Quick scam test

  • Someone contacted me on social media and is offering me big returns in a short time frame by trading forex, binary options or currencies.

  • My trader/broker is asking me to pay for a “cost of transfer”, taxes or any other fee in order to access my “profits”.

  • I’m encouraged to recruit more people into an investment programme, as I’ll earn an income from their investment.

  • I met someone online romantically, and they’ve asked me to send them money.

  • Someone famous is giving away cryptocurrencies if I send them a small amount first.

If any of this sounds familiar, you are possibly being scammed. Your money is at risk and we recommend you do not continue sending money.

What we don’t do

  • We do not give financial or trading advice and we will not manage your account for you. Anyone doing this and claiming to be from Luno (or partnering with Luno) is trying to scam you.

  • We will never (seriously, never ever) ask for your password, 2FA codes or One-Time-PIN. Please don’t share these with anyone – even if they say they work at Luno.

  • We do not ask customers to share their screen for assistance.

  • We currently do not have a phone number you can call us on (beware of fake technical support).

  • We cannot reverse cryptocurrency transactions as they are “irreversible” by design, unlike credit card transactions. In other words, you won’t get your money back.

  • There are no costs involved to take your money out of Luno or to manage your account except for low processing fees that are automatically applied.

What you can do to stay safe

  • Be extra careful (even paranoid) and verify the person or organisation you are dealing with by doing extensive online research and asking them specific questions about their business.

  • Scammers are very persuasive and take advantage of people who are still learning about cryptocurrencies. Don’t be afraid to terminate a conversation and walk away.

  • Do not take loans and borrow money to buy and send cryptocurrency to someone.

  • Avoid brokers, account managers, traders, sponsors, agents and other people that offer to trade cryptocurrency on your behalf.

  • Luno is open to everyone and easy to use, so invest directly using your own account and do not share your details with anyone.

Useful links for online research