Banks|A product called Turvatili offered by Danske Bank can confuse customers. We asked the bank if the confusing name could expose its customers to scams.
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Danske Bank’s savings account called Turvatili can confuse customers. The police and the Ministry of Finance have warned about security account scams and emphasized that bank security accounts do not exist.
Heli Pieninkeroinen, the bank’s director responsible for day-to-day services, says that changing the Turvatili name is currently being considered.
According to Danske Bank, it is not known that its customers have fallen victim to a security account scam.
Finns this year has been diligently tried to cheat with the “security accounts” of the banks.
Bank scams have increased at an accelerating pace. Mixed police that representing banks Finanssiala ry have warned Finns about these security account scams on several occasions.
They have emphasized that there are no bank security accounts of any kind.
In a security account scam, a fraudster posing as a bank tells the victim of the scam that the money in the bank account is at risk and promises to help transfer the funds to the bank’s “security account”. In reality, the money goes to the scammers.
This one therefore, it can be confusing that Danske Bank has a product called Turvatili. It is a savings account that the customer can open for himself.
There was news about this earlier this autumn MTV. According to it, to the former CEO of the Bank of Finland Erkki Liikasen targeted fraud may have been just a security account type scam in the name of Danske Bank.
Liikanen has not commented on the matter. His suspected to have lost 40,000 euros to the fraudsters in the crime of fraud, some of which has been recovered.
Is it Has the name of the security account caused confusion among Danske Bank customers recently?
“We understand that the name may raise questions. There have been some inquiries from our customers about it, but nothing major”, replies the director responsible for daily services at Danske Bank Heli Pieninkeroinen.
Are you worried that the customer could more easily fall for a security account scam and think that the fraudsters’ contact is coming from the bank, if he himself has a savings account called Turvatili in his own bank?
“Customers who have a Turvatili product are well aware that it is not an account intended to protect against fraud, but a savings account, the opening and terms of which they have agreed with the bank. We never offer customers a Turvatili by contacting them, but the opening of the account is agreed upon when the customers are in contact with the bank,” says Pieinkeroinen.
As such, according to him, the bank is concerned about the significant increase in scams and constantly strives to advise customers on how they can protect themselves from scams and transact safely.
“For example, we try to remind that the bank never calls the customer and asks for account information or identification, for example,” says Pieninkeroinen.
Have your customers fallen victim to security account fraud at all?
“I know of no such cases.”
Danske Bank started offering a savings account called Turvatili ten years ago. At that time, security account scams like today were not yet known in Finland.
Have you considered changing the name of the Security Account now that the name of the account may have become a burden?
“We are currently considering changing the name of the Turvatili product. In general, we are constantly evaluating the names of different products to make them as clear as possible for customers.”
Pieninkeroinen does not want to estimate how quickly the name could be changed.
According to him, there have been no calls from the authorities to change the name.
According to Pieninkeroinen, the savings account was once called Turvatili, because it describes the purpose of the account. It is intended especially for saving the everyday buffer of consumers’ own finances.
According to Danske Bank’s recommendation, it would be good to save an amount in the account that corresponds to a few months of mandatory expenses.
It is not a fixed-term deposit account, but you can make a few withdrawals from the account during the year. Interest also accrues on savings.