transbank

SMiShing (SMS Text Phishing) is a type of fraud that has become widespread internationally. Taking advantage of the widespread use of mobile phones for sending and receiving messages, there has been an increasing trend of deception, cyber fraud, and attacks on personal information. In response, we provide the following warnings and recommendations.

1. Be cautious with messages received via phone – Carefully verify links and messages from unknown numbers before opening or responding. Only engage if you are confident about the sender.
2. Do not click on suspicious links – Avoid opening links from unknown or doubtful sources as this is an important step to protect your information.
3. Be careful when scanning QR codes – Even if the source seems trustworthy, always verify and confirm the destination address before proceeding.
4. Keep your device and applications updated regularly – Updates improve security and help prevent attacks.

The bank will never request you to provide confidential information such as your internet banking username or password. If you receive such a request, it is crucial to verify the authenticity of the sender’s official email address and phone number to protect yourself from potential risks.

Cybersecurity starts with your responsibility.

According to Resolution No. 66 of 2025 by the Financial Regulatory Commission, starting from August 1, 2025, a new regulation has come into effect requiring mortgage loan borrowers to obtain life insurance exclusively through long-term insurance companies.

Under this new regulation, individuals who are taking out a mortgage loan for the first time, as well as those whose current insurance contracts have expired and need to be renewed, will be required to enroll in long-term life insurance products.

Currently, borrowers typically choose standard insurance services, which only provide coverage for accidental death. However, the main causes of death among people are illness-related, and common conditions such as stroke and cancer are not covered by the insurance.

The financial risk for mortgage borrowers is directly linked not only to stable income but also to health. If a borrower dies due to illness and is unable to receive compensation, the remaining loan balance must be paid by the co-borrower. Furthermore, if repayment is not possible, the property may be repossessed, placing the borrower’s family under financial strain and risking homelessness.

In contrast, long-term life insurance is a life insurance product that provides compensation equal to the outstanding loan balance if the borrower faces a risk during the validity period of the insurance contract. Specifically, according to the contract, if the borrower dies or suffers a permanent disability of 70% or more due to any illness – including chronic diseases, cancer, or sudden accidents – the insurance company will fully cover the remaining loan balance, protecting you from potential financial risks.

This insurance is reinsured by a foreign company, which ensures reliable claim payments. In addition, it provides 24/7 worldwide protection without any time or geographical restrictions. Furthermore, you have the option to pay the insurance premium either as a one-time payment or annually, according to the terms that suit you best. The premium is uniquely calculated based on your age, gender, loan term, and other factors, making it personalized just for you.

TransBank has launched a Customer Information Update Campaign across all its branches with the aim of protecting customers from potential financial risks.

In accordance with applicable laws and regulations, commercial banks are required to update customer information on a regular basis. By updating your information, you will be able to receive uninterrupted and efficient banking services, and protect yourself from potential risks such as third-party fraud, cyberattacks, and other financial crimes.

The Customer Information Update Campaign will run until August 31, 2025. We kindly ask both individual and corporate customers to visit the nearest TransBank branch in person with valid identification documents to update and verify their information.

Customer information to be updated includes:

If any of the information mentioned above has changed, or even if it has not changed, you are required to update your information at least every 3 to 5 years.

For more details, you can visit any of our branches near you or contact our Customer Service Center at 1800-9999.

Note: Please be advised that electronic references or certificates of identification issued through any online sources (such as E-Mongolia, HUR, etc.) will not be accepted. Bank staff will only accept copies made directly from the original physical documents.