First National Bank (FNB) has warned banking customers not to compromise their personal banking information as more people turn to mobile banking for convenience.
In a message to its customers and other who use mobile banking, the enterprise listed a number of scams which users should be aware of.
“The first step in the safekeeping of personal banking information is to never disclose a login in PIN, user ID, password or One Time Pin (OTP) to anyone,” said Dione Sankar, head of cellphone banking and messaging for FNB.
Sankar added: “Fraudsters continually try new approaches to gain confidential banking information that will allow them access to defraud a customer via mobile or online banking channels. Avoid falling victim to such scams by being extra vigilant.”
Phishing is a fraudulent technique, which deceives the customer into compromising their sensitive information through email.
The fraudulent email can also take the form of a pop-up window featuring official-looking bank logos.
The email might also include web links to online banking platforms such as FNB.mobi or FNB Online Banking.
It may pose as a security alert or a rewards statement requesting personal information.
The email may also be presented as a notice of payment or deposit together with a link for payment verification.
Smishing is another form of phishing, but deceives banking customers into exposing their information via SMS, which is usually randomly sent by a fraudster in anticipation of a response.
The SMS may suggest the details of the customer in question have been compromised, thus the bank needs the sensitive information to stop the fraud.
Vishing is yet another way of tricking banking customers into divulging their information and can take the form of a phone call or SMS.
According to FNB, the latest vishing trend involves fraudsters pretending to be South African police officers instead of a bank official, who then threaten customers into disclosing their personal details or face being arrested.
SIM swaps are also the latest means by which fraudsters steal funds from bank accounts. A fraudster will call the SIM card’s corresponding mobile operator, pretending to be the customer and reports the phone stolen.
The old SIM card is deactivated and all communications will go to the fraudster’s new SIM. The fraudster may also impersonate a mobile operator, requesting the user to switch their mobile phone off for maintenance purposes.
“As custodians of our client’s money, safety and security is of paramount importance. As a bank we can only fight the battle against fraud if customers assist us be keeping personal information safe as well as always being weary of possible scams,” concluded Sankar.
