THE South African Banking Risk Information Centre (SABRIC) has cautioned the public about bank crimes that could be prevalent this festive season. According to SABRIC, lost and stolen card fraud is still on the increase. Bank customers are urged not to accept any assistance while transacting at ATMs.
“Criminals are always looking for opportunities to defraud their victims, particularly at this time of year when they know that people are winding down for the holidays, and spending their bonuses,” SABRIC CEO Kalyani Pillay said on Tuesday.
By interrupting or interfering with a bank customer while transacting, cards are swapped, stolen or trapped in the ATM, only to be used later by the fraudster.
PINs are easily acquired by shoulder surfing (spying on the user of an ATM), enabling the fraudster to utilise the card immediately.
Read also: Glenhills resident warns of ATM thieve’s techniques
Pillay urged customers to prioritise the setting of daily withdrawal and transaction limits, according to their needs.
“Not only should customers be cautious when transacting at ATMs, but when online as well. Digital banking platforms have made transacting much more convenient, but have also created opportunities for criminals to defraud people,” said Pillay, who warned customers to be extremely vigilant when it comes to giving out personal and confidential information.
Examples of personal information include identity documents, driver’s licences, passports, addresses and contact details, whereas confidential information includes usernames, passwords and PINs.
Criminals can use this information to assume a person’s identity, creating opportunities for them to be impersonated and to commit fraud.
Read also: Man robbed, R30 000 outside Durban North ATM
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