Protect Yourself from Digital Wallet Scams
By May 9, 2025 Fraud information
Digital wallets make life easier — no more digging for cards or carrying cash. But as this technology grows in popularity, so do the scams that target it. At Topside, we want to make sure you’re one step ahead of the fraudsters trying to sneak into your wallet — even the digital one.
What’s a Digital Wallet Scam?
Digital wallet scams often start with a text message or email that looks like it’s from someone you trust — maybe your bank, a mobile carrier, or even a government agency. The message might ask you to confirm your account, verify a transaction, or “secure” your card by clicking a link.
Here’s the catch: that link leads to a fake website that looks real. Once you’re there, you may be asked to enter your card details. Then, a one-time passcode (sometimes called a Secure Access Code or Token) gets sent to your phone — and the scammers convince you to share that too.
With both your card details and the one-time code, the fraudster can load your card into their own digital wallet on a phone or smartwatch — and start spending your money.
How to Spot and Stop the Scam
Here are a few simple ways to protect yourself:
🔒 Never share one-time passcodes. Even if someone claims to be from your bank, no legitimate company will ever ask for these codes.
🔗 Don’t click suspicious links. If you get a text or email asking you to log in or verify your card, go straight to the official app or website instead.
📲 Keep your device secure. Use strong passwords or biometrics (like fingerprint or face recognition) and keep your phone’s software up to date.
🔍 Double-check the sender. Scam messages often look legit at first glance. Look closely for spelling errors, strange URLs, or unexpected requests.
🛑 Trust your gut. If something feels off, it probably is. It’s always okay to pause and check in with us directly.
Topside is Here to Help
If you ever receive a suspicious message or think you may have accidentally shared your information, don’t wait — contact us right away. We’re here to help you stay safe and secure. We’ve got your back — on every device.
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