Avoid falling victim to online banking fraud
Here are tips to help you protect your bank account from fraudsters.
'Cyber criminals stole over R740-million from unsuspecting users through digital banking fraud in 2022,' reports IT Web.
Recently, people who have credit cards with First National Bank (FNB), Standard Bank, Nedbank, Capitec, and Absa fell victim to 'FACEBK' card fraud.
According to My Broadband, the users reported that 'large amounts have been deducted from their cards' with statements showing the transaction description containing the words “FACEBK”'.
The banks have asked users to be more vigilant.
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The scammers created fake advertisements on Facebook, which led to users entering their banking details, allowing the fraudsters to scam them.
To avoid falling victim to online banking fraud, it is important to do the following:
- Talk to your bank when setting up your account about some of the safety features they have for your online profile.
- Set up a password or PIN that would not be easy to crack.
- Do not log onto your baking account using a public Wi-Fi network. It is not secure, and a hacker can intercept the communication between your device and the bank's server.
- Avoid accessing your bank account in a public internet cafe.
- Ensure you log out of your profile when done banking.
- Never expose or share your PIN or password with anyone, including bank employees or anyone who contacts you claiming to be from the bank.
- Do not share your credit card details and CVC with people.
- Avoid writing your credit card details, including your PIN or password, on your computer, phone, or book. Someone can access the details and use them without your consent.
- Set up a multi-factor authentication for your online transactions.
READ: Fraudsters targeting insurance policy holders in South Africa
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