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Law, Tax, Compliance

Online fraud: vigilance remains the first line of defence

Published on 03 August 2025

Luxembourg’s banks and LuxTrust certificates remain secure, but clients must stay vigilant. That was the core message shared in an interview with RTL Télé Lëtzebuerg on 1 August, where Jerry Grbic, CEO of the ABBL, explained how recent fraud cases highlight the need for strong awareness and prevention.

Summary

    Sophisticated fraud schemes

    Fraudsters are using increasingly advanced methods, such as fake websites designed to mimic technical issues. Under pressure, victims may re-enter their credentials, including LuxTrust access, giving criminals the ability to carry out transactions on their behalf.

    He praised those victims who came forward publicly, noting that their testimonies play a key role in alerting others and reducing the stigma of being targeted.

    There are no breaches in the banking or LuxTrust systems. The weak point remains the human element. That is why awareness and prevention are essential.

    Jerry Grbic

    CEO, ABBL

    Key precautions to follow

    The ABBL reminds clients of essential good practices:

    • Banks will never request confidential information during evenings, weekends or public holidays.
    • Always use your bank’s official app or manually type the web address instead of clicking links.
    • If you suspect fraud, immediately call the 4910-10 hotline, available 24/7, to block your LuxTrust certificate.
    • Inform your bank without delay and file a complaint with the police to support investigations and potential insurance claims.

    A growing threat

    The challenge is significant: cyberattacks in Luxembourg rose by 75% in the first quarter of 2025 alone, according to the Police. This underlines the urgency of staying alert and prepared.

    Linked to the Don’t Click campaign

    This warning comes shortly after the launch of the national “Don’t Click” campaign, led by the ABBL and the Luxembourg House of Cybersecurity under the patronage of the Ministry of the Economy. The campaign equips individuals and organisations with clear advice, prevention tools, and direct access to the 4910-10 hotline via cyberfraud.lu.

    The ABBL remains committed to working with partners across the public and private sectors to ensure that Luxembourg’s financial centre continues to combine security, trust and innovation.