security
Company
Genome reaches a milestone in security and personal data protection with ISO 27001 and 27701
When it comes to enhancing the security of the Genome platform, our team never stops. Our team is well aware of all the pitfalls when it comes to running and maintaining the safety of financial services, which is why we are always on top of the latest security-related solutions in the industry. And, the team is happy to see that our efforts in this field paid off! Genome is now ISO 27001 and ISO 27701 certified, meaning we apply effective security measures to protect our clients’ data up to the highest of industry standards. What is ISO 27001? ISO 27001
Money and you
Is Black Friday worth it? A financial guide
Originally a U.S. post-Thanksgiving shopping event, Black Friday has transformed into a global retail frenzy. The promise of huge discounts and exclusive Black Friday deals excites people’s minds from all over the world. Savvy shopping requires smart financial services, like we have in Genome, to optimize spending during sales and get the best deal on Black Friday. Find out more in the article below. Understanding Black Friday deals A Black Friday deal is a time-limited discount that allows huge savings from the original price. These deals are often heavily advertised, targeting high-demand products to attract as many people as possible
Security
Love is scammed: what is romance fraud
Have you recently received any random messages professing eternal love for you? Well, don’t be in a rush to respond – this is likely a primitive romance scheme. But sometimes, this type of fraud is not so obvious. Let Genome help you figure it out. In this article, we uncover the meaning behind romance scams and explain how these can be avoided. What is a romance scam? Like in many other fraudulent cases, the criminal creates a fake identity and starts surfing dating sites or social media. There, the fraudster starts corresponding with people, trying to quickly establish a “romantic
Security
What is loan fraud? When all participants risk being deceived
Not all fraud types are created equally, so to speak. Some are decades old, others are very simplistic, and even those that require deeper knowledge of technology. Loan fraud also has some specific characteristics. Its complexity is mainly due to the types and involvement of different parties. But don’t let us at Genome get ahead of ourselves. Let’s take on the topic one step at a time to better understand the risks of loan fraud and how to prevent it. Loan fraud: definition of the term In general terms, loan fraud (sometimes called lending fraud) is a fraudulent activity when
Security
What is an account takeover: how to protect your personal data
The internet is too much sometimes: you answer emails, browse the web, scroll social media, get messages, and so on. All these can make you let your guard down, which is what scammers want. Especially when it comes to account takeover fraud. However, there are ways to prevent it, and Genome‘s team is ready to share our insights. What is an account takeover? An account takeover (ATO) occurs when a malicious actor gains unauthorized access to someone’s personal account, varying from social media to a banking app. After that, the scammer steals the individual’s money or personal information. How serious
How to's
The importance of 2FA: why the biometric authentication is preferable to the SMS one
The article was updated on 18.09.2024 Did you know that Genome offers one of the quickest and most secure authentication methods for your log-ins – biometric authentication? To enable biometric authentication, you just need to: If you don’t have the Genome app, don’t worry. You can easily download it for free for your iOS or Android-based device, giving you instant access to its powerful security features. You might wonder – what is a big deal about additional authentication steps when managing finances online? Unfortunately, even with multiple advanced security solutions, the internet still remains a place where fraudulent scams and
Security
Pharming scams: how to avoid them and protect your finances
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
Security
Prevent wire transfer fraud: Genome’s tips for businesses
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
Security
Prevent card-not-present fraud: tips for individuals and businesses
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