[GRI FS16] The problem of fraud or embezzlement in which bank clients are the injured parties pertains to the entire banking sector in Poland and across the globe. Since client awareness is of key significance in each such case in terms of safely using online financial services, banks, and that includes Bank Millennium, intensively educate their clients in collaboration with the Polish Bank Association and unilaterally, reminding clients about the online risks they face and the need to comply with security rules. Bank Millennium publishes security warnings and recommendations on the rules of safety on its website. Whenever the Bank obtains information about a new method of fraud, it promptly sends out the pertinent warnings to clients describing the method of operation applied by criminals and explaining how to avoid the threat in question. Bank Millennium also pursues many preventive measures and responds to every signal that may be an attempt at deceptively obtaining client information or funds.
The number of fraudulent attempts using electronic channels has grown markedly since the outset of the pandemic. From that time we have strengthened our communication by adding educational content for clients, we have refreshed the website regarding safe banking on the Bank’s portal (we also published a series of educational film clips on the safety of payments and cybersecurity to make the message more attractive) and we expanded the topical section in the mobile application.
Educational campaigns for clients are delivered using various channels:
Campaigns are refreshed regularly and the communication is additionally strengthened whenever new operational methods employed by perpetrators of fraud are observed or their attacks on clients grow more intense. Communication plans and content are created as a result of cooperation between several departments, chiefly the Security Department, the Electronic Banking Department, the Quality Department and the Client Knowledge Department. Campaigns target clients in general and selected groups based on risk profiles. These campaigns enjoy extensive client interest that is growing from month to month.
The Bank organized a training webinar for the employees of financial departments in local government entities in December 2021. It was devoted to best practices to raise the safety of digital processes and the methods of counteracting fraudulent attempts. The Bank’s experts on transaction banking and the risk of fraud based on examples of the methods used by criminals showed how to identify attempts at fraud to avoid financial losses.
Bank Millennium supports clients through its educational activities and the distribution of information regarding important changes affecting how business is done. The Bank publishes a monthly bulletin presenting macroeconomic information, discussing tax changes and describing new product and system-related solutions to support clients. The other educational activities focused on two communities supported by the Bank: chief financial officers and family companies. The Bank’s experts appeared during direct and online meetings of the CFO Club to share knowledge about tax changes, legal regulations regarding sustainable development, the impact of macroeconomic changes on business development and the soft skills needed by a CFO. In turn, meetings held with the Family Companies Forum were an opportunity for the Bank’s experts to share their experience in client analytics and building client experience in digital channels.
In 2021, 12 regular webinars were held for Prestige/Private segment clients and a selected group of Retail segment clients. These were meetings on investment issues (market, current events) and providing information about the Bank’s products and services. The events were also attended by experts who introduced the participants to the principles of safe banking, market trends, technological innovations, environmental and economic topics.
The Bank is systematically expanding the group of clients targeted by online meetings. In December Bank Millennium together with Millennium TFI organized a webinar for Retail clients – the main topic was inflation and ways to protect against its impact on the value of savings. In addition, Millennium TFI regularly publishes podcasts about key market trends.
