Bank frauds it’s one of the most prevalent types of frauds because innovation in the banking sector can be accompanied by threats of online banking fraud. Given the prevalence of banking scams who can you trust with your finances when resolving a scam.
Well just as when it comes to your finances and who to trust with your finances a bank comes to mind. Your bank should also come to mind as to who to trust with your finances when resolving a scam.
Should you fall victim and you’ve paid money to a fraudster, contact your bank immediately. They can assist by either stopping any payments or blocking your cards. Just as if your card is retained by an ATM. Lost or stolen or if you receive an OTP on your phone without having transacted yourself.
Or debit order fraud a situation when some companies process debit orders from your bank accounts without your consent. It may likely being prompted by a fraudster using your personal information.
And because fraudsters know that your bank will be the first person you trust to watch out for some of these tactics that scammers use to access your banking details as reported by the Payment Association of South Africa.
- Be watchful when entering into contracts, verbally, electronically or in writing.
- Don’tprovide or confirm account information if you’re not certain what exactly it will be used for.
- Check your bank statements on a regular basis and verify your statements against contracts you’ve signed.
- Refrain from sharing personal information over the telephone or through e-mail or social media.
Remember, the bank will never ask for your username, password or PIN in an email, SMS, social media or phone call. Never select a link to a bank’s website that was sent via email. It is better to type out your bank’s web address than to click on a link.