Among a plethora of online fraud and scams, some are more obvious than others. Unfortunately, this is not the case for the one we want to warn you about in this article. This fraudulent scheme is called pharming, which can have devastating consequences for companies and individuals. The reason is that many people don’t even suspect that anything is wrong when encountering the pharming scam.  Genome’s team is here to help you stay vigilant – find out more about pharming and how you can recognize it below. Pharming: definition of the term If the word “pharming” reminds you of another

Here’s your friendly reminder – Valentine’s Day 2024 is upon us! And, in many cases, it can bring a bit of chaos into your life. Yes, you know exactly what we mean: a search for presents, coming up with exciting ideas, planning, etc.  The preparation one needs to undergo for this holiday can somewhat ruin the mood. But here’s an important question you need to ask yourself: do I need to stress about Valentine’s Day that much? Well, let the Genome‘s team help you determine that! Let’s go through the main things you need to consider before the celebration so

The breakneck growth and development of the banking industry leads to the emergence of amazing products. Our team believes that multi-currency accounts are among the best features there are. They are simple, straightforward, and allow a lot of flexibility for clients.  So, what is a multi-currency bank account? Find out below and learn how to start a multi-currency account inside Genome.  Multi-currency bank account: the definition The definition of a multi-currency bank account is easy to decipher based on the name alone.  In a nutshell, it is a banking account that allows clients to maintain balances in various currencies simultaneously,

Learn about the best practices in wire transfer fraud prevention from Genome’s Džeineta Dalia Pumputytė – Head of KYC, Deputy Head of AML, and Compliance. For additional information, check our one-pager on the matter. Do you want to know how to keep your information and funds safe from the most common types of fraud? Check Genome’s security page, where we list our advice. What is wire transfer fraud?  It is a type of fraud that involves the misuse of any electronic money transfer services by malicious actors for their personal gain. To commit wire transfer fraud, scammers first use a variety

Let’s be honest: the holiday season can be stressful, piling up on top of other worries you might have had during the year. Thus, it is crucial to take care of yourself to enter the new year well-rested and full of energy. Genome’s team is all about this mindset! We have gathered some of the tips on what you can do to feel refreshed in 2024. In small and grand ways!  Visit other countries This is an obvious one, but it is simply too good not to be included! If you have time and means – why not experience other

Winter holidays, for all their cheerfulness and magnitude, can be quite chaotic, especially when they creep up on you unexpectedly. It’s just like that: you are all caught up in your work, family life, and daily errands, and it hits you – the celebration time is near! To ease the stress, it is better to plan some things ahead of the holidays. And Genome has suggestions to help you better navigate your life before the upcoming celebrations! #1. Vacation time, of course!  No explanations are needed here – you had a year filled with either work, chores, family matters, or

Genome’s team is back with yet another article that dives into different types of fraudulent financial situations that people and businesses can face. And this time, card-not-present fraud is on the agenda. Want to know how to avoid scams associated with card-not-present transactions? We gathered some tips below. What is a card-not-present transaction?  Before we get to the fraud part, let us first explain what card-not-present transactions are in general.  Card-not-present transactions (also known as CNP transactions) are the type of payments a person makes with their debit or credit card. Such payments happen remotely, meaning that the card and

A business bank account is a necessity for any company. However, you may wonder, “Can I have 2 business bank accounts?”. The short answer is yes, you can.  But our team at Genome also wants to explain why you might need more than one business bank account and the benefits of having multiple business accounts. Business bank account: the fundamentals of your financial journey A business bank account is an account you can open in a brick-and-mortar bank or other financial institution. The account is in your company’s name, and you can use it for corporate financial operations. Simply put,

Most people with bank accounts will undoubtedly want a card as well. After all, debit and credit cards allow for quick payments in most parts of the world and online.  However, when selecting a card, you may wonder which option is better – physical or virtual.   Genome is here to help you clear things up. In this article, we describe the difference between virtual and physical debit cards and explain various types of cards in general.  What is a virtual card?  It is all in the name, really! A virtual card is a payment card that banks and financial institutions

The article has been updated on 29.08.2024 Financial security and financial independence are things that most people strive for. But achieving these is not that easy, especially if you don’t have a plan or have enough worries in your life as is. Still, you can do it in 10 steps and by being consistent.  This article will cover essential actions, from cash budgeting and debt management to investing wisely and saving for retirement, helping you build a solid foundation to be financially secure. What is financial security? So, what is financial security in terms of your personal finance? Financial security