At Montonio, we are deeply committed to upholding the highest standards of consumer protection against financial fraud. This commitment is rooted in the principles and recommendations set forth by leading regulatory bodies, including the Bank of Lithuania, ensuring robust financial oversight and consumer communication.
Our comprehensive approach to fraud prevention includes:
Robust Security Measures: We implement advanced internal fraud detection and prevention systems, continuously monitoring for suspicious activities. We offer and strongly recommend the use of Two-Factor Authentication (2FA) for accessing our systems, providing an enhanced layer of security for your accounts.
Strong Customer Authentication (SCA) / 3-D Secure (3DS): For all online payments, we adhere to SCA requirements, which often involve 3-D Secure (3DS) protocols. This adds an essential layer of verification, dynamically linking payments to specific amounts and recipients, significantly reducing the risk of unauthorised transactions.
Data Security: We adhere to strict data security protocols to protect sensitive information, ensuring its confidentiality and integrity.
Proactive Prevention: We emphasise early detection and robust measures to prevent fraud before it occurs, constantly adapting to new fraud schemes and trends.
Consumer Empowerment Through Education: We are dedicated to empowering our users. We strive to provide clear, timely, and actionable information, such as this FAQ and other resources, to help you identify, avoid, and report fraudulent schemes.
Transparency and Clarity: We aim to communicate fraud risks and prevention strategies in an understandable and accessible manner, avoiding technical jargon to ensure broad comprehension.
Collaborative Defense: We work in conjunction with regulatory bodies and law enforcement agencies to share information and combat organised criminal activity, strengthening the overall financial ecosystem against criminal enterprises.
Rapid Response and Support: We ensure mechanisms are in place for swift action and comprehensive support when fraud is suspected or occurs, aiming to minimize consumer harm and facilitate recovery, including adherence to legal requirements for reimbursement of losses.
These principles ensure that our consumer protection efforts are comprehensive, effective, and aligned with the overarching goal of fostering a secure and trustworthy financial environment for all our users.
Relevant source
Relevant source
FRAUD PREVENTION GUIDELINES, accessed on June 10, 2025, https://www.lb.lt/uploads/documents/docs/45487_33a75af37e84f861c6009f2cba304e9a.pdf
8 Types of Financial Fraud to Look Out for in 2025 - Sumsub, accessed on June 10, 2025, https://sumsub.com/blog/8-types-of-financial-fraud-to-look-out-for-in-2025/
Consumer Fraud Awareness and Prevention | OCC, accessed on June 10, 2025, https://www.occ.gov/topics/consumers-and-communities/consumer-protection/fraud-resources/types-of-consumer-fraud.html
Phishing, Smishing, and Vishing..Oh My! | University Information Security Office, accessed on June 10, 2025, https://security.georgetown.edu/csam-2020/phishing-smishing-and-vishing-oh-my/
Phishing Vs Smishing Vs Vishing: 6 Critical Differences - SentinelOne, accessed on June 10, 2025, https://www.sentinelone.com/cybersecurity-101/threat-intelligence/phishing-vs-smishing-vs-vishing/
Fraud Resources | OCC, accessed on June 10, 2025, https://occ.treas.gov/topics/consumers-and-communities/consumer-protection/fraud-resources/index-fraud-resources.html
Information on fraud I The Bank of Lithuania, accessed on June 10, 2025 https://www.lb.lt/lt/sukciavimas
Useful links
Knowledge test, educational material and general information on Fraud prevention, shared by the Bank of Lithuania: https://www.lb.lt/lt/sukciavimo-prevencija.
If you have additional questions and need our help, feel free to contact our support team via the chat in the bottom right corner.