FNB warns its clients about scammers targeting their account

FNB has increased the number of warnings sent to clients about fraud and scams amidst a global increase in banking fraud, whereby scammers try to access your bank account.

This is according to FNB Corporate Affairs Executive Jacqui O’Sullivan, who told Daily Investor that the bank has proactively increased the warnings sent to its customers about the dominant fraud scams currently targeting customers. 

“We also use our banking channels, FNB Security Center and our various communication channels to educate customers on how fraud is perpetrated and to help customers spot the fraud scams so they can protect themselves from falling victim to these criminals,” she said. 

“We also regularly engage media through traditional channels and our social media platforms to help customers and general consumers stay ahead of the ever-changing fraud risk.” 

She said that, globally, there has been an increase in Authorised Push Payment (APP) Fraud. 

APP fraud is when a criminal convinces a payer to authorise a payment under false pretences. Common examples are from incidents that have occurred because of ‘phishing’ or ‘smishing’. 

Smishing is a type of cybercrime in which fraudsters send out text messages accompanied by links requesting sensitive information such as login credentials, passwords, PINs, card details, CVV, and One-Time Pins (OTPs).

Phishing is a type of cybercrime in which people are duped into providing sensitive information such as login credentials, passwords, PINs, card details, OTPs, or ID numbers by using deceptive techniques such as fake emails and websites.

O’Sullivan said common scam examples currently seen in South Africa include messages claiming to be from a bank, asking for the user to update their personal information “for FICA”, or messages claiming to be from courier companies,  asking for small online payments of “tax” to ensure the “parcel” is delivered. 

“Fraudsters and scammers use this tactic to try to capture sensitive personal information,” O’Sullivan warned.

She advised FNB customers to take several steps to protect themselves against financial fraud and scams. These include:

• Keep abreast of the latest fraud trends and tactics used by criminals through media and your banking partner’s communications.
• Using strong, unique passwords that would be difficult for criminals to decipher. Avoid using the month and year, birthdays, names of loved ones and anything that could potentially be mined from your social media and overall online profile.
• Always use two-factor authentication when purchasing online or on e-commerce platforms.
• Be cautious of Phishing and Vishing. Vishing is voice “phishing,” where criminals make calls pretending to be from one’s bank or mobile operator, for example. Never share confidential information or respond to unsolicited requests for personal information. She said FNB will never ask you to share any sensitive information via email or phone.
• Do not ever provide OTPs to any caller. Like an ATM pin, these pins should never be shared and should be kept entirely confidential.
• Exercising caution on any request for a change of banking details as that must be verified by contacting the requestor using contact details sourced from sound historical records.
• Another helpful step in protecting yourself is using the Verify Owner tab on Online Banking to ensure the account holder’s name corresponds with the account number provided.
• Never release payment of goods or services before checking your bank account.
• Never release payment of goods based on a copy of a deposit slip or copy of an EFT Advice provided – rather, contact your bank to validate the deposit.

“If a customer suspects that their credentials may have been compromised, they can immediately access the FNB App to change their PIN, password, and temporarily block or cancel their cards,” O’Sullivan said. 

“Customers can also report the incident on our fraud hotline. It is critical that customers act on the fraud as quickly as possible to ensure any further attempts of a fraudulent transaction can be prevented.”