With the advancement of globalization, the popularization of the Internet, and the development of online payment technology, the convenience of cross-border payments has been greatly improved, and the demand for cross-border remittances has also sharply increased. At the same time, many illegal elements are also targeting the trend of cross-border payments - various types of online fraud are constantly emerging.

 

 

When committing fraud, criminals use the victims' cross-border consumption needs and unfamiliarity with overseas laws and regulations to deceive their personal information, and gradually guide the victims to complete the fraud behavior.

 

At the same time, with the development and improvement of new technologies such as blockchain, metaverse, and artificial intelligence, criminal tools and fraud techniques continue to be updated, and the concealment and confusion of fraud behavior also increase, making it difficult for consumers to effectively prevent it.

 

In the process of cross-border remittance, we need to be vigilant against various fraudulent means.

 

Today, Panda will introduce common types of cross-border remittance fraud, prevention measures, and reliable and convenient remittance services to help you better protect your own and family and friends' property security!

 

What are the Common Types of Fraud?

 

1. Counterfeiting financial institutions

Fraudsters impersonate well-known financial institutions to send false remittance links or emails, inducing victims to provide personal sensitive information, thereby stealing funds or identity information.

 

2. Fake shopping websites

By creating fake cross-border shopping websites, fraudsters lure victims to purchase goods and make payments through remittance, but in reality, no goods are delivered, resulting in the theft of the victims' funds.

 

3. Counterfeiting certification agencies

Scammers impersonate certification agencies and claim that a certain fee must be paid to complete cross-border remittance procedures. However, these fees do not exist, with the aim of defrauding the victims' money.

 

 

4. Fake investment

Scammers promote investment projects with high returns and ask victims to transfer money to overseas accounts to participate in the investment. However, the so-called investment projects do not exist or are Ponzi schemes, causing victims to lose all their funds.

 

5.Lottery scams

Scammers inform victims via phone, SMS, or email that they have won a big prize but need to pay fees or taxes to claim the winnings. Once the victim makes the payment, the scammers disappear, and the prize does not exist.

 

6.Impersonation of relatives and friends in need

The fraudsters impersonate the victim's relatives and friends, claiming to encounter emergency situations (such as unexpected accidents, detention, etc.) and requesting the victims to remit money to solve the problem. However, these seeking information are all false, with the aim of defrauding the victim's money.

 

 

How to Prevent it?

 

1. Be vigilant: Stay alert to potential scams and do not easily trust information and promises from strangers, without verification.

 

2. Don't disclose personal information: avoid providing personal sensitive information, such as bank account, ID card number, etc. on untrusted websites or platforms.

 

3. Regularly update password: Regularly change the account password and use strong password combinations, including letters, numbers, and special characters.

 

4. Confirm the authenticity of identity and information: If you receive suspicious phone calls, text messages, or emails, to verify the authenticity of the other party's identity and information, you can contact relevant institutions or individuals through other channels.

 

5. Do not click on links or download attachments at will: Avoid clicking on links or downloading attachments of unknown origin to prevent malicious software from infecting the device.

 

6. Pay close attention to accounts and transaction records: Regularly check bank accounts and transaction records, promptly detect abnormal transactions, and report to banks or relevant institutions in a timely manner.

 

7. Seek professional advice: If you encounter suspicious situations or suspect that you have become a victim of fraud, promptly consult professional institutions or local law enforcement departments for help and advice.

 

8. Handle cross-border transactions with caution: When conducting cross-border remittances or transactions, choose legitimate and trustworthy payment channels and platforms to ensure a safe and reliable trading environment. Just like Panda Remit - safe, reliable, and trustworthy!

 

In short, preventing fraud is crucial. By maintaining vigilance and adopting appropriate security measures, the risk of becoming a victim of fraud can be effectively reduced.

 

 

Safety Guarantee of Panda Remit

 

As a professional cross-border remittance service provider, Panda Remit is committed to ensuring the security of users' personal information and funds. The following are the safety measures provided by Panda Remit:

 

1. Strict identity verification

 

Panda Remit will undergo strict identity verification during the account opening and remittance process.

• When opening an account, in addition to information review and facial recognition, a dedicated customer service representative will also confirm their identity over the phone to ensure that the customer is the one who opened the account, in order to prevent personal information theft;
• When logging in to the account, Panda Remit protects the account security through both 【Set Password】 and 【Bind Phone Number】;
• During the remittance process, Panda Remit will also verify the information verification code multiple times to ensure that only legally authorized users can proceed with the remittance operation.

Reminder: Panda Remit staff will not request a verification code in any way, please do not disclose the information verification code to others.

 

2. Encryption technology protection

 

Panda Remit adopts multiple information review procedures to protect users' personal information and transaction data, and encrypts them during transmission and storage to prevent information from being stolen or tampered with; At the same time, Panda Remit uses state-of-the-art  fraud detection technology to prevent unauthorized programs from intruding into users' accounts.

 

3. Real time risk monitoring

 

Panda Remit has established a comprehensive risk monitoring system, implemented strict risk control management, encrypted and monitored all transactions 24/7, and was able to monitor remittance behavior in real time, detect abnormal transactions in a timely manner, and take corresponding measures; Once abnormal transactions are detected in the backend, Panda Remit will lock the transaction and verify the situation with the user over the phone, fully ensuring the safety of the user's funds.

 

4. Process transparency and visualization

 

The remittance process of Panda Remit is fully completed online, and services are provided 24/7 to help users make payments with peace of mind.

• The entire remittance process is visualized and traceable, and users can check the remittance status in real-time on the mobile app;
• Users can also check the remittance progress through online customer service;
• Timely notification of receipt status through SMS/email/WeChat.

 

5. Protecting customer privacy

 

Panda Remit adopts Symantec's security solution, with industry data standards and no blind spots in information protection; At the same time, Panda Remit strictly adheres to local regulations to keep user data confidential, ensuring the maximum security of the remitter's information. The private data submitted by users is encrypted by Norton Secure Site SSL Certificates, always protecting the security of user information.

 

6. Authoritative institutional guarantees

 

Ping An Insurance, the largest insurance group in China, provides a fund security insurance of 50,000 CNY for each transaction, allowing each remittance to receive more security protection; Moreover, a leading global law firm, King & Wood Mallesons, provides legal services for Panda Remit. Panda Remit's business flows are strictly reviewed and evaluated by King & Wood Mallesons to ensure full compliance with all relevant regulations. This means that every money transfer made through Panda Remit is fully compliant, ensuring that your transfer will arrive safely and securely.

 

7. Legal and compliant processes

 

Panda Remit has obtained PCI DSS certification and passed nearly 300 audit indicators covering 6 major fields and 12 specifications, including network security, application, and system security. This means that the company's payment ability and technology have reached an international leading level;

 

As an international company, Panda Remit's remittance business covers the world. In different countries/regions, Panda Remit has passed compliance regulations and obtained corresponding remittance licenses. Specific information can be viewed on the webpage（ https://www.pandaremit.com/en/compliance）.

 

8. 7 * 24-hour customer service support

 

Panda Remit provides 24-hour customer service support. Users can contact the customer service team at any time when they encounter problems or have doubts, and promptly help you answer your questions and provide assistance.

 

It is crucial to understand common types of fraud and choose safe and reliable remittance service providers when conducting cross-border remittances. Panda Remit, with its strict security measures and high-quality customer service, provides users with a safe and convenient cross-border remittance experience. Let's stay away from fraud together and enjoy the convenience of global capital flow with peace of mind! Panda Remit, safeguarding your funds!

 

About Us - Panda Remit

Panda Remit is a cross-border remittance online platform, which is committed to providing global users with safer, more convenient, reliable and affordable online cross-border remittance services. With user-friendly interface and advanced security features, Panda Remit is the best solution for anyone looking for a hassle-free way to make global remittance.

 

Panda Remit has the following features:

 

1. High safety degree - One of the key features of Panda Remit is its advanced security measures

All transactions are encrypted and monitored 24/7 to ensure the safety of your funds. What's more, Panda Remit uses state-of-the-art fraud detection technology to prevent unauthorized access from your account.

 

2. Convenient transfer environment - Panda Remit is equipped with currency calculator

The platform is available on Panda Remit official website or Panda Remit app, so that you can easily access your account and make transactions on-the-go. And users can transfer money in a variety of currencies,including US dollars, euros, HK dollars, pound, yen, etc,. Furthermore, it is also worth noting that Panda Remit provide 24/7 Chinese customer service, providing a familiar and intimate environment for overseas Chinese.

 

3.Simple operation process - Panda Remit has a user-friendly interface that makes it easy to navigate and use

Moreover, whether you need to pay bills or send money to friends and family in other countries, you just need to simply follow the operation tutorial provided by Panda Remit to create an account, link your bank account or credit card, and then you're ready to tranfer money globally. With just a few clicks, you can successfully send money to anyone, anywhere in the world you want.

 

4. Instant transfer - Panda Remit provides a quicker way to transfer money globally

Panda Remit is not only secure and convenient, but it is also fast. It allows for instant transfers between Panda Remit users, eliminating the need for waiting periods or processing times as much as possible. This feature is especially beneficial for people or businesses that require quick and efficient cross-border remittance.

 

5. Low handling fee - Panda Remit offers a range of exchange rates benefits to users

Panda Remit also offers competitive price compared to traditional remittance methods and other apps of the same kind. Thus, users can enjoy low transaction fees and competitive exchange rates and get high amount received when transferring money globally, which makes Panda Remit a cost-effective solution for individuals and businesses alike. Plus, the system would give coupons to first-time users.

 

In conclusion, Panda Remit provides a simpler and efficient online gloabl remittance way that offers a range of features and benefits to users. Nowadays, Panda Remit have opened global remittance service for more than 30 countries or regions worldwide, and helped users save nearly 100 million dollars in fees, which deeply recognized and trusted by millions of users around the world.

 

Panda Remit is the perfect solution for you to make cross-border remittance.

Please visit the Panda Remit official website or download the app, Panda Remit, for more detail information.