Stay ahead of scammers this festive!

Correspondent | Tuesday December 20, 2022 06:00

This is also the time when fraudsters tend to prey more aggressively on unsuspecting victims.

There are many types of scams that no one individual should think they are above because fraudsters are continuously evolving their ways to try and outsmart their victims. Here are some safety types to help you stay ahead of the scammers this festive.

Protect your banking information Banks have seen the common types of fraud that customers fall victim to which are phishing, vishing and smishing fraud and involves fraudsters obtaining your banking log in and or card details. People should avoid responding to smses, phone calls or emails that ask you for such confidential information. FNB will never ask its customers for this information, including such things as your banking password, PIN or OTP. This is all information that should never be shared with anyone in order to ensure your bank account is safe.

Be vigilant at the ATM As we travel to our homes, we may find ourselves having to get cash from ATMs. When using an ATM, make sure you are vigilant and not allowing other people see you enter your PIN. There are instances when ATMs have been tampered with like in an example of placing a card skimming device over the card slot to copy the information once you insert your card. Don’t force your card in the slot if you notice it is struggling to go into the slot. Rather use another ATM. And never ask for anyone’s help at the ATM as you could be giving a scammer an opportunity to get your information.

Be aware of the latest scams The digital era has created space for new forms of cyber fraud, one of which is a growing type of fraud known as remote account fraud. This involves using sophisticated software programmes that give fraudsters access to your banking profile and control of your computer over the internet. An example is if a scammer calls a customer offering to help them block any fraudulent transaction by asking them to download and install “protective” software on their computer. Once the customer downloads the software, they are instructed to log on to their banking profile. After logging in, the customer’s computer goes blank, but shortly afterwards, they start receiving OTPs on their phone to confirm transaction they did not perform. The fraudster reassures the customer that those are fraudulent transactions and requests the customer to forward the OTPs to the fraudster so they can block them immediately. With access to the customer’s log in information and OTPs, the fraudsters have control over the customer’s bank account. If someone calls you and requests your personal banking details or to install remote access software, they should immediately end the call and contact their bank’s fraud contact centre.

Immediately report suspected fraud When transacting, consumers should always exercise caution to protect themselves from possible fraud. This can help prevent financial losses and the compromise of one's financial personal information. When you suspect that you have been a victim of fraud, you must immediately notify your financial institution. The FNB App allows customers to temporarily block, cancel or replace their cards if they suspect fraud. FNB customers can also immediately report any fraudulent transactions on the FNB App.

Protecting yourself is not simply limited to your bank card, but also includes being observant and practicing safe banking behaviour all round, whether it is online, at ATMs, or over the phone. To help prevent fraud, FNB has invested resources to inform, educate and support customers on how to bank safely without falling victim to fraud. Exercise caution and bank smarter and safely this festive season.