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Security & Fraud Protection at Neno

Security & Fraud Protection at Neno

Your financial security is a top priority. This article explains the security measures protecting your Neno account and what to do if you suspect unauthorized activity.

How Your Account Is Protected

Fund Safeguarding

Your funds are held by our banking partner, a licensed electronic money institution regulated by the ACPR (French banking regulator). EU e-money regulations require that customer funds are kept in segregated accounts at partner banks, completely separate from operating funds. This means your money is protected even in the unlikely event of financial difficulty.

Strong Customer Authentication (SCA)

Under the EU's PSD2 regulation, sensitive actions on your account require Strong Customer Authentication — a multi-factor verification step. SCA is triggered when you:

  • Initiate a transfer above certain thresholds

  • Add a new beneficiary or account member

  • Log in after a period of inactivity

  • Change sensitive account settings

When SCA is triggered, you'll receive a confirmation prompt that you must approve before the action proceeds.

Card Security Features

  • 3D Secure (3DS) — Online card payments may require additional verification to confirm you authorized the purchase

  • Contactless limits — Contactless (tap) payments have per-transaction limits for protection

  • Instant card blocking — Block your card immediately from the dashboard if it's lost or stolen

  • PIN protection — Physical card payments require your personal PIN

Transaction Monitoring

Transactions are monitored for unusual patterns and suspicious activity. If something looks unusual, the system may temporarily hold a transaction for review or ask for additional confirmation.

What to Do if You Suspect Fraud

If you notice unauthorized transactions, unexpected account access, or any suspicious activity, take these steps immediately:

1. Block Your Cards

Go to Cards in the sidebar and block all active cards. This prevents any further card-based transactions.

2. Review Your Account

Check your account for any changes you didn't make (new members, new beneficiaries, changed settings).

3. Contact Support

Reach out through the chat or email support@neno.co with "URGENT: Fraud" in the subject line. Provide:

  • The transactions you believe are unauthorized

  • When you first noticed the suspicious activity

  • Any relevant details (unfamiliar device login, phishing email received, lost card, etc.)

4. Do Not Approve Unknown SCA Prompts

If you receive SCA confirmation requests for actions you didn't initiate, do not approve them. This is a strong indicator that someone is attempting to use your account.

Your Rights Under SEPA Regulation

Under SEPA regulations, you have specific rights regarding unauthorized transactions:

  • Unauthorized card transactions — Report within 13 months for potential reversal

  • Unauthorized direct debits — You can request a refund within 8 weeks, or within 13 months if the debit was not authorized by a mandate

The sooner you report unauthorized activity, the better the chances of recovery.

Protecting Yourself

Best practices for keeping your account secure:

  • Never share your PIN or SCA codes with anyone — Neno will never ask for these

  • Be cautious of phishing — Always access your account through app.neno.co directly, not through links in unexpected emails

  • Keep your contact details current — Ensure your email and phone number are up to date so you receive security notifications

  • Review your transactions regularly — Check your transaction history for any unfamiliar entries

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