Luminor bank expands digital security services to combat fraud

Luminor bank is expanding its ‘Saugu+’ service to combat the increasing sophistication of online fraud. As financial activities move to digital spaces, scammers are using increasingly professional methods, such as creating fake websites and impersonating well-known brands to exploit urgency and trust.

Mindaugas Kutkaitis, head of fraud prevention at Luminor, notes that victims often fall prey to scams due to emotional pressure or haste rather than technical vulnerabilities. To mitigate these risks, the bank is adding cyber incident insurance to its ‘Saugu+’ offering. This service is designed to assist private clients facing digital threats, including identity theft and cyberbullying.