Be extra cautious when shoping online
Be extra vigilant when shopping online
The restrictions in physical shopping activity since the start of the lockdown and consumers’ awareness about personal safety have increased the drivefor online shopping in recent months.
In line with the upsurge, fraudsters have also increased their attempts to defraud consumers through card-not-present shopping activity.
“The latest modus operandi is that criminals contact consumers to deceive them into willingly compromising their card details and one-time pin (OTP).
“In such cases, criminals will call pretending to be from your bank of choice, informing you that there’s been fraud detected on your account while offering help to reverse the transactions.
“They then ask you to read out the OTP you have just received, which simply enables them to fraudulently purchase goods using your card details online.
“Most people unknowingly read out their OTP and as a result fall victim to fraud,” says Senzo Nsibande, head of card fraud at FNB.
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An OTP is a dynamic number generated by your bank to authenticate transactions when shopping online.
Nsibande provided a few important tips you can use to protect yourself against fraud:
“Be alert and aware of individuals contacting you pretending to be from the bank.
“Fraud departments or any official from a bank will never ask you to disclose your PIN or OTP.
“Protect your card details and ensure you shop via secure platforms or websites.
“Register for inContact, a free instant SMS service that notifies you when your card is swiped or when cash is withdrawn from your account.
“Do not disclose your OTP to anyone, including family, friends and ‘bank officials’.
“Protect your OTP the same way to protect your card PIN.? Never send emails quoting your card number, expiry date and CVV number.
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“Verify any information presented on a suspicious call by checking your transaction history through the banking app or the contact centre using the number on the back of the card.
“Should you suspect any fraudulent activity, immediately report the incident through the banking app.
“Online shopping continues to rise across the world and with Covid-19, the upward trend is likely to continue.
“While we continue to encourage the use thereof, we advise consumers to familiarise themselves with the new ways criminals are using to defraud unsuspecting people.
“More importantly, we urge consumers to always protect their personal information,” says Nsibande.
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