SAPS warns of new fraud trend as victim loses R70k
Should you be caught in this scam, the bank will not be able to assist you in recovering your loss if you provide the suspect with your One Time Password (OTP).
![](https://images.caxton.co.za/wp-content/uploads/sites/49/2021/04/pexels-tara-winstead-7111956-780x470.jpg)
RESIDENTS have been urged to refrain from revealing their One Time Password (OTP) to people claiming to be from the Banks Fraud Division.
According to Captain Govender from SAPS Office of the Provincial Commissioner, Eastern Cape, criminals are using a new trend to defraud innocent people of their hard earned savings. One victim has since lost R70 000.
“In the cases that have been reported thus far, the caller will identify himself as an individual working in the Banks Fraud Division. He states that a transaction has taken place on the victim’s account. The suspect has all personal particulars and profile of the victim, including details of bank accounts, linked accounts beneficiaries etc,” said Govender.
She said the suspect then states that a transaction has appeared on an account which appears suspicious and enquires from the victim if they have approved a transaction for a large amount of cash from their account, furnishing account details and when the victim replies in the negative, the caller informs the victim that he will reverse the charge if the victim can go onto their banking app.
ALSO READ: Durban Mayor commends progress on backlogged disciplinary cases
“Once the victim has logged onto their banking app, the suspect tells the victim to supply the One Time Password (OTP) that was sent via SMS to their cell phone so that the transaction can be reversed. As soon as the OTP is given to the suspect, the suspect starts to transact on the account, increasing limits, adding beneficiaries and making payments and draining the account. Do not respond and do not supply the OTP, this is when the suspect has full control of your account,” added Captain Govender.
The community is urged to take heed of the following: Do not respond to these calls. Cut the call immediately and contact your bank on their toll free numbers if you are uncertain.
You can check your account privately. Do not give any OTP (One Time Password) over the phone to any individual. Your bank will not ask you for your passwords or an OTP.
ALSO READ: DUT staff member jailed for insurance fraud
“Losses amounting to nearly R70 000 have been reported from one victim alone. Should you be caught in a scam such as this, the bank will not be able to assist you in recovering your loss, as you have furnished your One Time Password (OTP) to the suspect and allowed permission to the suspect to transact on your account,” said Captain Govender.
* Notice: Coronavirus reporting at Caxton Local Media aims to combat fake news
Dear reader, As your local news provider, we have the duty of keeping you factually informed on Covid-19 developments. As you may have noticed, mis- and disinformation (also known as “fake news”) is circulating online. Caxton Local Media is determined to filter through the masses of information doing the rounds and to separate truth from untruth in order to keep you adequately informed. Local newsrooms follow a strict pre-publication fact-checking protocol. A national task team has been established to assist in bringing you credible news reports on Covid-19. Readers with any comments or queries may contact National Group Editor Irma Green (irma@caxton.co.za) or Legal Adviser Helene Eloff (helene@caxton.co.za)
Do you want to receive news alerts via Telegram? Send us a message (not an sms) with your name and surname to 060 532 5535.
You can also join the conversation on Facebook, Twitter and Instagram.
PLEASE NOTE: If you have signed up for our news alerts you need to save the Berea Mail Telegram number as a contact to your phone, otherwise you will not receive our alerts
Here’s where you can download Telegram on Android or Apple