Man takes the bait and loses R5 000 in a banking scam

Unfortunately, despite all the steps taken by banks to ensure their customers’ safety, people are still falling for bank scams.

On February 8 a resident from eMalahleni lost R5 000 because a woman who introduced herself as a woman working for a bank fraudulently transferred the money out of his account. 

“A woman phoned me and said there are transactions taking place on my account and in order for her to stop it; I needed to follow the instructions. I did what she required and transferred R5 000,” the man said.

The man said he even received an SMS with a case number related to the incident.

But when he went to the bank to enquire, he was shocked to find out that he had been scammed.

“Unfortunately, the number of people falling victim to bank scams has continued to rise. People must safeguard their hard-earned money by educating themselves about the different scams the fraudsters are using,” police spokesperson Captain Eddie Hall said. 

 

“I learned a hard lesson. I will not be caught a second time,” the victim said. 

 

Standard Bank warns customers to be careful of these scams.

“New types of scams continue to emerge in which fraudsters lure you into providing confidential info – often via email, SMS, phone call, malware or remote access. Anyone can be a target. Ultimately, it’s up to you to stay informed about scams and think twice before sharing your personal details online or over a phone.”

Capitec Bank shared the following on their website 

• Report the suspected fraud

As soon as you notice that something has been charged or money has been debited from your account, contact our Client Care Centre. If you let us know soon enough, we may be able to block the illegal transactions so that no money is lost. Remember, the sooner you let the relevant people know what is going on, the better your chances of getting your money back.

•  Contact the police

Open a case with the South African Police Service (SAPS). Reporting a crime is free of charge and a police officer will assist you with all the necessary paperwork. Once the case has been opened, it will be investigated by the police, who will arrest any suspects.

•  Check all your accounts

Go through your statements and check all your accounts to determine the number of illegal transactions performed. To make sure no unauthorised transactions are taking place, this is also good practice if you do a lot of online shopping. 

• Contact a credit bureau

If any of your accounts have been compromised, you should ask your bank to help you contact a credit bureau to put a credit freeze on your name. This will stop criminals from opening new lines of credit in your name. There are four main credit bureaus in South Africa: Experian, TransUnion, Compuscan and XDS.

First National Bank is strict and said, “Don’t take the bait.” 

Victims often get lured into a scam through an email, SMS, fax or phone call.

They shared some tips on their website: 

Do

• Forward a copy of the scam email to the internet service provider (e.g. report@yahoo.com)
• Be cautious of company names with web-based email addresses e.g. junkmail@yahoo.com, @hotmail.com, @gmail.com, @ymail.com
• Always enter the full website address, e.g. https://www.fnb.co.za

Don’t

• Don’t reply to scam texts or emails.
• Don’t make refunds without first verifying with the bank that the deposit that has been made into your account is
• Don’t give potential buyers/sellers money for anything else except for the item that interests you.
• Don’t expect to be selected as a winner if you haven’t participated in the lottery or other competitions.

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