During the festive season, there is a need to empower people with information to ensure that they bank safely, according to https://www.sanews.gov.za.
SABRIC says fraudsters take advantage of the fact that consumers receive bonuses, spend more money and are generally more relaxed because they are in holiday mode.
The festive season typically sees an increase in the use of online banking and card transactions and it urged bank clients to take note of the latest crime trends so that they do not become victims.
Although, the advent of digital technology has seen an increase in electronic banking crimes, SABRIC still urged consumers to remain aware of other modus operandi at play, such as card fraud and phishing, both of which are on the increase.
By interrupting or interfering with a bank client while he or she is transacting, cards are stolen, swopped or trapped in the ATM to be retrieved later by the fraudster.
“By covering the PIN when punching in the numbers, bank clients will be able to mitigate their risk, even if they are the unfortunate victims of card theft.
“Bank clients are urged not to accept any assistance or allow anybody to interrupt or interfere with them at ATMs while transacting,” said SABRIC’s chief executive officer, Kalyani Pillay.
Although fraudsters still make use of phishing, there has been an increase in what is known as vishing, which is the telephone equivalent. A fraudster phones their victim posing as a bank official or service provider and uses social engineering skills to manipulate them into disclosing confidential information, while at the same time, leading them to believe that they are speaking to the bank or service provider. This information is then used to defraud the victim. Read more