CNS reporter
3 minute read
25 Nov 2016
9:51 am

Beware of digital banking fraud – FNB

CNS reporter

Cybercrime is becoming increasingly sophisticated, as fraudsters constantly find new ways of carrying out their unlawful conduct.

Picture: AFP

As the festive season draws near, cyber criminals will pull all kinds of tricks to cheat people out of their hard-earned cash.

Cybercrime is becoming increasingly sophisticated, with fraudsters constantly finding new ways of carrying out their unlawful conduct, especially during busy periods like the festive season,” said Yolande Steyn, head of innovation at FNB.

“Consumers should therefore be extra vigilant with their banking information and login details.”

While the rapid growth of technology presents us with boundless opportunities, it also requires vigilance to prevent consumers and business being vulnerable to cybercrime, Rekord East reported.

“As a responsible financial services provider, we have, therefore, taken upon ourselves the obligation to constantly educate and inform consumers about the many ways fraudsters use the internet to try and rip them off,” she said.

Steyn shared the following tips on how consumers could protect themselves against digital banking fraud this festive season:

– Always keep your pin and password secure. If you think your pin or password has been compromised, change it immediately.

– Remember to change your passwords and pins regularly.

– Never use the same username and password for banking as you use on other apps and websites like social media and email.

– Never save usernames, passwords or pins on your cellphone or computer as it may allow others to access your banking without your permission.

– Keep track of your accounts and transactions and have additional security with you 24/7.

– Log on to your bank’s website by typing in the web address yourself instead of accessing it via Google search, as this may lead you to a spoofed site.

– Always do internet banking on a secure computer that you regularly use at home or work. Never do online banking in public areas such as internet cafes or shared computers, as you never know what software is loaded that may compromise your transactions.

– Download free antivirus programmes for your computer and/or smartphone.

– Update your smartphone and computer with the latest software and app updates.

– Monitor your cellphone reception. If you have lost signal for an unusually long time, you may be a victim of Sim swap fraud.

– Never open suspicious or unfamiliar emails or attachments, and never click on links in emails or SMSs. Criminals make emails and SMSs look legitimate and often bait you with scare tactics to confirm your account details or to login to prevent your account from being closed.

– Criminals may sometimes call you and pretend to be from your bank, service provider or a reputable retailer. During this conversation they may ask you to verify personal and banking information. It will be safer for you to hang up and call the company directly to verify if the call is legitimate.

– Only make online purchases with your card on reputable websites that are verified as secure sites (look for the lock icon in your browser and ensure the address starts with https://).

Steyn said although the above tips were by no means conclusive, they would go a long to ensure consumers kept their money safe over the festive period.

“We urge our customers to familiarise themselves with the content of our security pages.”

“Taking the necessary measures to protect yourself against online banking fraud can give you peace of mind knowing you can have a stress-free festive season with your loved ones.”

– Caxton News Service