How to stay safe while managing your money 🔐

Your financial safety and security are our top priorities. Financial fraud and scams have become increasingly sophisticated, and staying informed is essential to protect yourself. We believe that knowledge is power, and in that spirit, we want to empower you with valuable insights on staying safe while managing your money.

Below, we've compiled some useful information to help you recognise scams and take appropriate action if you suspect you've been targeted.

Three things you should never share

  1. Your NALA password and passcode: Your login credentials are like the keys to your financial world. Never share them with anyone, and ensure they remain confidential.
  2. Your card PIN and CVV: The three-digit CVV on the back of your debit card should never be shared with anyone. Likewise, your PIN should be kept secret.
  3. Your account information with an unknown caller: Legitimate organisations, including NALA, will never ask you to divulge personal account information over the phone. If you have doubts about the integrity of a caller, hang up and reach out to your bank or financial organisation directly (Mama NALA is available 24 hours a day via in-app chat).

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Common payment scams

Five things to look out for:

  1. Someone pretending to be NALA: Scammers may send emails, make phone calls, or send text messages that appear to be from NALA. Rest assured, NALA will never ask you to share any information via text or phone call.
  2. Investment Scams: Be cautious of individuals or entities promising high investment returns. NALA is not involved in any investment schemes and will never request for you to invest in anything.
  3. Phishing Scams: Fraudsters may use deceptive emails or texts that look genuine, prompting you to click on a link and provide sensitive information like passwords or account numbers. Always check the email address; if in doubt, contact us via in-app chat!
  4. Pretending to be Authorities or Charities: Scammers might impersonate the police, utility companies, charities, or others you trust to pressure you into making payments to "avoid legal action." Always verify the authenticity of such requests.
  5. Romance Scams: In these cases, fraudsters pose as romantic interests to manipulate your emotions and persuade you to send them money. Be cautious when engaging with strangers online.

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What to do if you suspect you've been scammed

If you ever doubt the legitimacy of a transaction or suspect that you've fallen victim to fraud, please take these steps:

  1. Contact Us: Immediately send an email to mamanala@nala.com to report your concerns.
  2. Avoid Social Media: Do not share details of suspected scams or suspicious transactions on social media, as this can compromise your security. Instead, reach out to us directly via email or the chat feature on your NALA app.
  3. Temporary Account Restriction: In cases of suspected fraud, we may temporarily restrict your account to safeguard your funds while we investigate your report.

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How NALA protects your money

At NALA, we employ multiple layers of security to keep your money safe, including:

  1. Biometrics and Passwords: To ensure it's you accessing your NALA account, we ask for either a password or biometrics (facial recognition) when using the mobile app.
  2. 24/7 Transaction Monitoring: Our vigilant monitoring system is active around the clock to safeguard your account from potential fraudsters.
  3. Industry-leading Security: We work with governments and banking partners around the globe, to ensure the safest product possible.

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Remember, NALA will never contact you over the telephone to disclose your personal information.

We hope these insights help you stay vigilant and secure while managing your finances with NALA. Your safety is our priority, and we're here to support you every step of the way.

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