Santander Consumer Bank | Santander puts its foot in the cryptocurrency

Santander Consumer Bank |  Santander puts its foot in the cryptocurrency

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Santander customers can no longer trade cryptocurrencies using the bank’s “Handlekonto” card.

“Against the backdrop of increased fraudulent activity associated with cryptocurrencies, Santander will impose restrictions on this area of ​​use such that the card can no longer be used.”

The bank also confirms that fraudulent methods have become more sophisticated and thus it is difficult for consumers to detect an error.

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– Increased exposure to cryptocurrency fraud

Santander’s Nordic communications manager confirms they have imposed restrictions on the use of their cards.

-We have noticed that our customers are increasingly exposed to fraud in the cryptocurrency space. I can’t go into detail about the number, but the extent of fraud associated with so-called cryptocurrency is much higher than card fraud in general among our clients, Pedersen tells Nettavisen.

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– Stop all non-government cryptocurrencies

The decision was made while the bank was evaluating its internal guidelines for cryptocurrencies.

– Our credit cards were never intended to be used as a tool to finance financial speculation. We recently revamped our internal cryptocurrency policy, deciding to shut down all non-government cryptocurrencies.

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Hanisi Anenih

Hanisi Anenih

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