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SAFETY
www.spotongmag.co.za
PROTECT YOUR MONEY THIS
FESTIVE SEASON Follow these tips from SABRIC
T
he South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry, would like to make the public aware of how they can protect their money this festive season. We share the following modus operandi to enable greater awareness:
Associated robberies, where criminals follow a victim after a withdrawal at an ATM or from the bank, remain rife, as criminals know that at this time of year, people receive their stokvel payouts and bonuses. We therefore urge bank clients to avoid carrying large amounts of cash and use alternate safer ways to transact. Bank clients are also still falling victim to fraud at ATMs where criminals interfere with them while they are carrying out a transaction, and SABRIC urges bank clients not to accept assistance from anyone, even if they say they are bank staff.
Clients are still compromised because of phishing, vishing or the installation of malware onto a victim’s device by having them click on a link, enabling the criminal to steal sufficient personal information to access their online banking profile. SABRIC urges consumers not to click on links or icons in unsolicited emails or SMSs. SABRIC has also seen an increase in the hacking of social media profiles, where a victim’s social media account is hijacked by hacking their account, or by creating a duplicate account using stolen personal information. The criminal then accesses the victims contacts, and posing as the victim, fabricates a tragic story, and sends a message to their contacts requesting money. The victims contacts then unknowingly transfer money to the criminal. SABRIC continues to stress that as a bank client, you are your money’s best protection, so read our tips and empower yourself.
Criminals are masters at social engineering and know just how to exploit human vulnerabilities to perpetuate crimes, particularly over the festive season, where people tend to let their guard down.
TIPS WHEN USING ATMs
In a scam known as the “Money Bomb”, the criminal drops a roll of paper covered in genuine bank notes near the victim after they have transacted at an ATM. The criminal then approaches the victim and suggests going to a remote location to share the “money”. At the remote location, the victim is robbed of the money they withdrew, often violently.
• Avoid ATMs that are dimly lit or surrounded by loiterers, and never allow your children to draw money using your card, since they’re the most vulnerable to perpetrators.
Digital platforms have also created social engineering opportunities for criminals to manipulate their victims into divulging their personal or confidential information.
• If you think the ATM is faulty cancel the transaction IMMEDIATELY, report the fault to your bank and transact at another ATM.
• Have your card ready in your hand before you approach the ATM to avoid opening your purse, bag or wallet while in the queue. • Be cautious of strangers offering to help as they could be trying to distract you to get your card or PIN.
