New online merchant fraud modus operandi
FNB warns consumers about new fraud modus operandi involving online merchant fraudsters.
As Covid-19 continues to drive e-commerce activity, customers are urged to use trusted and secure merchants to avoid being defrauded by merchant fraudsters when shopping online.
Chris Labuschagne, CEO of FNB Card, said in recent months they have seen a rise in a new fraud modus operandi targeting unsuspecting online shoppers.
“The latest modus operandi involves methods such as ‘enumeration’ and ‘account testing’, where online merchant fraudsters use automated scripts or software to attempt transactions or payments.
“Consumers need to maintain high levels of awareness as fraudsters regularly evolve their methods,” he said.
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Trish Ramdhani, head of Fraud at FNB Card, said, “To help minimise the risk of fraud, we recommend consumers use trusted websites for online shopping. Consumers can identify the security of a website through ‘https’ or the padlock icon on the URL. We also encourage citizens to use their virtual card for online shopping to minimise the risk of fraud.
“Virtual cards have a dynamic card verification value (CVV) security number that changes every hour. Furthermore, customers can temporarily block, cancel or replace their bank apps if they suspect fraudulent activity.”
The bank shared additional safety tips that consumers should practice to protect themselves and their card details against fraudsters:
• Do not click on links in emails or third party websites when shopping online, rather type in the website address yourself.
• Never disclose personal information such as passwords and PINs to anyone.
• The bank will never ask you to process a transaction to reverse fraud.
• The bank will never ask you for your OTP or confidential information such as your banking password.
• Check your bank statement regularly and thoroughly for any unauthorised transactions/withdrawals.
• Use up-to-date software to perform regular anti-virus and malware scans on your devices.
• Never send emails that contain your account number, card number and expiry date.
• Use a secure connection and avoid public Wi-Fi
• Only enter card details when finalising the purchase.
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