New phishing campaign targets Monzo online-banking customers

• by Olivia Lawlor-Blackburn
• Industry News

Users of Monzo, one of the UK’s most popular digital-only banking platforms, are being targeted by phishing messages supported by a growing network of malicious websites.

Monzo is a 100% online banking platform with over four million customers and among the first to challenge the traditional financial managing system. The mobile-only platform offers a feature-rich app, debit Mastercards, and a comprehensive yet not completely flawless fraud-detection system.

In a new report, Thomas explains that the phishing process begins with the arrival of an SMS text showing Monzo as the sender’s name, asking the recipient to tap the provided link to reactivate their session or verify their account. The users are taken to a phishing site that displays a fake email login form and then requests information about their Monzo account, including full name, phone number, and the Monzo PIN.

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