Be cautious when using bank cards

According to a press release issued by First National Bank (FNB) about 3 600 cases of identity theft were reported last year.

Because it is International Fraud Awareness Week you can avoid falling victim to having your identity stolen, by taking extra precautionary measures to protect your bank cards.

It is believed criminals use a stolen ID document and after changing the photo they open bank accounts using that ID. They also buy on credit and take out loans, without, of course, ever repaying them.

Here are a few tips to avoid criminals gaining access to your personal information:

• Dispose expired ID items so they cannot be reused. This includes IDs that have been reported lost or renewed/temporary driver’s licenses or passports.

• When you receive a new bank card, sign it immediately and link your banking to your cell phone, so you are notified and kept up-to-date if there are any transactions made.

• Report any fraud on your accounts to your bank immediately, so that whoever has your card will not have access to it.

• Keep a list of all your card numbers separate from your cards, in case your wallet or purse is stolen.

• Never write your PIN number on your cards or where they are stored.

• Cut up and get rid of expired cards because if someone gets hold of the card they can use it in conjunction with a fake ID to get a new one.

• Never leave your ID documents in the open where they can be stolen – banking fraud is not the only thing that you are exposed to.

• If your phone access is suddenly terminated, this could be the result of a fraudster suspending your phone contract so you don’t receive texts about your bank activity.

• If you get numerous calls from an unknown number, call your service provider to check if they have not received instructions to do a sim swap. Fraudsters apparently organise sim swaps by repeatedly calling you and hanging up in the hope you will switch off your phone so the swap can be executed.

Have you been a victim of bank fraud? Let us know.

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