Eight steps to avoid being a fraud victim
Phishing occurs when fraudsters send you a link that directs you to a fake website where you enter your financial or personal information.
![fraud](https://images.caxton.co.za/wp-content/uploads/sites/22/2021/12/fraud.jpg)
Giuseppe Virgillito from FNB shared steps on how to prevent online scams and keep your accounts safe.
Lost/stolen device
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The fraudster sends a message to the victim to ‘assist’ them in locating their recently stolen device.
The fraudster usually claims that by clicking on the embedded link provided by them, the victim will be able to locate the device.
If your device is lost or stolen, the first step is to delink your device from your app, block your banking profile and contact your bank for help.
Remote access
Be wary of random requests to install software on personal or business devices as this tactic can be used to install malicious software to access your banking profiles.
This is known as a “remote access” scam, and if you suspect you are a victim, block your profile immediately and contact your bank.
SIM-swap
A SIM swap occurs when a fraudster transfers your phone number to another service provider to control your SMS notifications.
This enables them to control notifications such as a one-time PIN (OTP) to commit fraud. It is critical to never share your OTP.
SMS scam
Fraudsters are sending SMSes asking customers to share their banking credentials (username and password) to deactivate their online or app banking profile and advise customers to only share this with the “bank consultant” assisting you with reversals. Banks will never ask you to share your banking credentials with them.
Social engineering
This is the umbrella term used for a variety of malicious attempts deployed through human interaction to manipulate and trick people into making security mistakes or giving away sensitive information by working on their emotions. Some of these include vishing and phishing.
Vishing
This is a type of fraud in which fraudsters pose as employees of a financial institution and attempt to persuade you to share your personal and banking information over the phone.
The golden rule is that a reputable financial services provider will never ask you to share information, such as your PIN or passwords over the phone or through any other channel.
Financial institutions will also never ask a customer to perform a transaction to reverse a transaction. End such calls right away.
Phishing
Even though this is one of the most common scams, many people still fall for it.
Phishing occurs when fraudsters send you a link that directs you to a fake website where you enter your financial or personal information.
If you must visit a financial institution’s or a service provider’s website, type their web address into the URL rather than clicking on links.
Social media scams
Fraudsters use social media to offer low-interest rate loans or crypto investment opportunities with high returns.
They request your banking details and use these to defraud you. Never share your banking credentials. Use reputable service providers and beware of unsolicited offers.
Source: Giuseppe Virgillito, FNB head of digital banking.
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