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Prevent fraudsters from taking over your PC and online banking this festive season

Prevent fraudsters from taking over your PC and online banking this festive season

The best way to beat a scam is to know the scam. Here’s how most typical online banking scams unfold.

While you may be enjoying your summer vacation, fraudsters might be remotely taking control of your PC over the internet and gaining access to your online banking profile. We don’t mean to alarm you, but rather be safe than sorry.

Most vacationers are getting ready to kick back and relax but unfortunately, during these last days of Christmas shopping, fraudsters are sending unsuspecting consumers fake emails notifying them that fraud has occurred on their respective bank accounts or credit cards. So keep an eye out – these are obviously fake.

Soon afterwards, the customer receives a call from a fraudster claiming to be from their bank and offers to help block any fraudulent transactions by first requesting the customer to install “protection” software on their computer, which allows the fraudster to gain full control of the computer remotely.

Kovelin Naidoo, Cyber Security Officer at FNB, says fraudsters are getting more cunning by the day and by employing carefully constructed scamming tactics that have the ability to trick even the most vigilant customer if they are not aware of the modus operandi.

Here is how the scam unfolds:

– The fraudster calls the customer and offers to help them block any fraudulent transaction by asking him/her to download and install “protective” PC software.

– The customer downloads the software, and with the help of the fraudster, installs it.

– Once the software is installed, the fraudster asks the customer to log into his/her personal online banking profile.

– After logging in, the customer’s computer goes blank. Shortly afterwards, he/she starts receiving OTP SMSs to confirm transactions he/she did not perform.

– The fraudster then reassures the customer that these are fraudulent transactions and requests that he/she forward the OTPs so that they can be blocked or reversed immediately.

– The fraudster then uses the OTPs forwarded to him/her to process the pending transactions and defrauds the customer.

“If someone calls you and requests your personal banking details or to install remote access software on your computer, end the phone call and contact your bank’s fraud contact centre. FNB will never ask you to share your OTP to reverse pending transactions or to block your banking profile,” cautions Naidoo.

Furthermore, never click links in emails, disclose sensitive information, such as your username, password, card and PIN details to anyone, not even a bank official. If you are a FNB customer, use Smart inContact on the FNB App as it prevents OTP fraud by delivering an Online Banking transaction confirmation to your verified banking app.

“As access to banking services through digital channels continues to grow, so does the prevalence of banking scams, therefore we urge consumers to always be vigilant and familiarise themselves with the different types of digital banking fraud, as well as the security measures provided by their respective banks,” concludes Naidoo.

 

June Spoil 2018


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