We are all aware of an increasing number of people becoming victims of small-scale fraudulent activities (scams). I would like to offer you some basic suggestions to protect yourself against becoming the next victim:
- Never click on any ‘links’ in a text message or e-mail. If you receive any text messages that are different or new, reach out to that company by telephone to confirm that they sent you the message.
- If the bank’s “fraud department “ calls you, immediately put the phone down and phone back into the bank’s fraud department, confirming whether they were indeed reaching out to you. More often than not, the scammers are imitating the bank, asking for your account details, and OTP’s over the phone to supposedly prevent fraud from happening.
- Before making any payments online to a new beneficiary, try to stick to the following rules:
- Phone the business/company you are paying and confirm the bank account number over the phone. Often, invoices have been intercepted, and bank account details have changed.
- When possible, choose the relevant beneficiary from the ‘pre-approved beneficiaries’ lists on the online banking profile. (Investment platforms, municipalities, etc)
- When making a large payment, I always suggest first paying R100 to that account, and only once they have confirmed receipt and you know that you have used the correct banking details, you can pay the rest.
- Try not to log onto any FREE WIFI, typically offered in a mall, airport, etc.
- Make sure you activate the multi-factor-authentication when you are logging into important websites/profiles. Multi-factor authentication is when you log into your online bank or other important accounts where, in addition to your password, they require another form of confirmation — like sending a code or text message to your mobile phone. Most accounts give you the option to add multi-factor authentication, which we will urge you to do.
- Something we are all guilty of—using easy-to-guess passwords. We encourage you to add symbols where possible (ie #%@).
- Track your transactions—make sure you get a sms when a transaction takes place in your account. That way you can immediately get notified if someone is using your account to make payments.
- MOST IMPORTANT: If your gut tells you something is off, rather don’t say or do anything.
List of Fraud Departments for South African Banks (Open 24/7). Please save your FRAUDLINE on your cellphone:
- ABSA: 0860 557 557
- Investec: 0860 110 161
- FNB: 087 575 9444
- Nedbank: 080 011 0929
- Standard Bank: 0800 222 050
- Capitec: 0860 10 20 43
Update your e-mail account password regularly
One of the simplest yet most effective measures you can take to protect your personal and professional information is to periodically reset your passwords, especially your e-mail account password.
- Change Passwords Regularly: Aim to update your passwords every 3 to 6 months, if not more regularly.
- Use Strong Passwords: Combine uppercase and lowercase letters, numbers, and special characters.
- Avoid Common Words: Refrain from using easily guessable information such as birthdays or common phrases.
- Employ Two-Factor Authentication (2FA): Add an extra layer of security by enabling 2FA where possible.
How can you test whether your e-mail has been compromised? Log onto the following website to find out:
Stay safe
—oOo—
