MOSSEL BAY NEWS - An elderly couple from Hartenbos Heuwels were defrauded of in excess of R100 000 recently due to online banking fraud.
According to SABRIC (South African Banking Risk Information Centre), internet banking fraud relies on a series of crimes in order to be successful.
Susan Potgieter, general manager of the information hub at SABRIC, said upon enquiry from the Mossel Bay Advertiser regarding this specific case, that there were various ways in which criminals compromised usernames and passwords of their victims, but that phishing still remained the most prevalent.
"Sometimes victims, even in hindsight, struggle to remember how they were tricked into clicking on a hyperlink and disclosing their confidential information. This is because they genuinely believe they were communicating with their bank at the time.
Criminals are not able to fraudulently transfer funds from their victim's profile if they do not also have the necessary One Time Password (OTP) to release the transaction. This is why they do a fraudulent SIM swop."
SABRIC CEO Kalyani Pillay emphasises the importance of bank customers protecting the device which they bank. "You wouldn't leave your house open; so why should you be careless with your banking devices," she said.
Pillay urged bank customers to protect their banking devices such as mobile phones and tablets, in order to wipe out cybercrime.
"Although banks are constantly updating their software to ensure their customers are not easily duped by criminals and to mitigate the risk of cybercrime, it is important that the consumer is also empowered in avoiding compromising their cybersecurity."
SABRIC is also involved in training of law enforcement and bank personnel on criminals' modus operandi to ensure they are better informed.
To protect themselves, consumers are encouraged to follow the tips below:
- Secure your smartphone by enabling the lock screen and security function, be it a pattern password or fingerprint screen lock.
- Where possible don't save any sensitive personal information and bank account details on your electronic devices
- Think before you download apps to your mobile or tablet.
- Do not bypass built-in security measures by "rooting" your device.
- Download and install the security software provided by your bank (e.g. Trusteer).
- Disable any wireless connection settings (e.g. Bluetooth, WiFi and NFC) when you're not using them.
- Disable your push notification settings on mobile devices if not needed.
- Use strong passwords for all your accounts and change them regularly and never share them with anyone else.
- Be wary of email attachments and free software from unknown sources.
- Always set the privacy settings on your social media profile to the highest level possible.
"We advise consumers to always ensure they have two numbers on their mobile phones. That of your bank's fraud department and also your cellular provider. When your mobile phone is not connecting to the network in an area where you, generally speaking, should be connected, do not take this lightly.
"Make an enquiry to your cellular network provider immediately," Pillay told the Advertiser during a telephonic interview.
ARTICLE: CORNELLE CARSTENS, MOSSEL BAY ADVERTISER JOURNALIST
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