Money Doesn't Sleep & So Do Criminals



SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry released its annual crime stats in 2018 that the public should pay special attention to, as these stats have risen serious concerns to consider in 2019.

The stats reflect that criminals will take every opportunity to take advantage of bank customers’ money. How do you as a consumer protect yourself and your money? Here are the most efficient tips to use, as suggested by SABRIC:

Tips to prevent Phishing and Vishing

  • Do not click on links or icons in unsolicited e-mails.
  • Do not reply to these e-mails. Delete them immediately.
  • Create complicated passwords that are not easy to decipher and change them often.
  • Banks will never ask you to confirm your confidential information over the phone.
  • If you receive an OTP on your phone without having transacted yourself, it was likely prompted by a fraudster using your personal information.
  • Do not provide the OTP telephonically to anybody. Contact your bank immediately to alert them to the possibility that your information may have been compromised.

Tips when using ATM’s

  • 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.
  • ONLY punch in your PIN once prompted by the ATM.

Tips for protecting your Personal Information

  • Don’t disclose personal information such as passwords and PINs when asked to do so by anyone via telephone, fax or even email.
  • Don’t write down PINs and passwords and avoid obvious choices like birth dates and first names.
  • Don't use any Personal Identifiable Information (PII) as a password, user ID or personal identification number (PIN).
  • Don’t use Internet Cafes or unsecured terminals (hotels, conference centres etc.) to do your banking.
  • Use strong passwords for all your accounts.

These tips are only a few of what you need to know about protecting yourself, assets and funds from cybercriminals. It is advisable to always be cautious and be aware of your surroundings and what happens on your devices at all times.

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