With the advancement of technology in the financial space comes also the advancement of digital fraud and theft.
Over the past 3 years, we have monitored our systems and seen how some villains have tried to game our systems. There's a more detailed article about some of their actions on our blog here
The victims of this many times are accounts with weak passwords and PINs that are easy to guess based on known information about the owner. This is why we always advise against the use of the same passwords across different platforms as well as weak passwords like your phone number, date of birth or any other easily guessed information about yourself.
Fortunately, we have been able to curb many actions of these thieves and scammers that might pretend to be you and try to access your account. Now we have built our systems to automatically identify irregular actions/transactions and block them before any damage can be done to your account. In addition, we have deployed a more secure authentication process to access any account (2FA) as our next level of action to protect you and your funds on Cowrywise.
If your account is flagged, it means we noticed a couple of irregular transactions on your account.
Always remember, your security is our priority at Cowrywise 💙