December 8, 2021

FNB warns of new banking scam targeting customers

Monetary providers agency FNB is urging customers to make use of trusted and safe retailers to keep away from being defrauded by service provider fraudsters when purchasing on-line, amid a rise in e-commerce exercise introduced on by the Covid-19 pandemic.

Chris Labuschagne, chief government of FNB Card, stated the financial institution has seen an increase in a new fraud modus operandi targeting unsuspecting internet buyers in latest months.

The newest modus operandi entails ‘enumeration’ and ‘account testing’, the place on-line service provider fraudsters use automated scripts or software program to try transactions or funds.

“Fortunately, our fraud detection measures have been effective in preventing many of these attempts, and we immediately block merchants for this activity. However, consumers need to maintain high levels of awareness as fraudsters regularly evolve their methods,” he stated.

Trish Ramdhani, head of fraud at FNB Card, stated to assist minimise the chance of fraud, shoppers ought to use trusted web sites for on-line purchasing.

She stated that buyers may establish the safety of a web site by way of ‘https’ or the padlock icon on the Uniform Useful resource Locator (URL).

“We additionally encourage our customers to make use of their Digital Card for on-line purchasing to minimise the chance of fraud.

“Our Virtual Card has a dynamic Card Verification Value (CVV) security number that changes every hour. Furthermore, our customers can temporarily block, cancel or replace their FNB or RMB Private Bank cards via the FNB or RMB Private Bank Apps if they suspect fraudulent activity,” stated Ramdhani.

Beneath FNB shared further security suggestions that buyers ought to observe to guard themselves and their card particulars towards fraudsters:

  • When purchasing on-line, don’t click on on hyperlinks in emails or third social gathering web sites; fairly, sort within the web site handle your self.
  • By no means disclose private info corresponding to passwords and PINs to anybody.
  • The financial institution won’t ever ask you to course of a transaction to reverse fraud.
  • The financial institution won’t ever ask you on your OTP or confidential info, corresponding to your banking password.
  • Examine your financial institution assertion repeatedly and completely for any unauthorised transactions/withdrawals.
  • Expend-to-date software program to carry out common anti-virus and malware scans in your private gadgets.
  • By no means ship e-mails that comprise your account quantity, card quantity, and expiry date.
  • Use a safe connection and keep away from public Wi-Fi.
  • Solely enter card particulars when finalising the acquisition.

“Through our trusted digital platform, we continue to educate our customers against the latest fraud scams and use these fraud prevention methods,” stated Ramdhani.

“We advise consumers to familiarise themselves with the new ways that criminals are using to defraud unsuspecting victims. More importantly, we urge consumers always to protect their personal information and to use any of our banking interfaces to report any suspicious transactions on their bank accounts immediately.”

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