With the festive season fast approaching, criminals are also gearing up for a shopping spree of a different sort. With this in mind, Standard Bank is urging people to be extra vigilant.
The bank's Fraud Risk Management team says criminals are sharpening their skills and using different methods at ATMs, preying on vulnerable individuals like the elderly or those unfamiliar with other languages.
Head of Fraud Risk Management at Standard Bank Athaly Khan, warned that a common scam picked up, was where languages are changed on the actual ATM itself.
"While another sees fraudsters activating the 'cardless function' to disorient customers.
"A frequent tactic, especially during busy periods like Easter, Black Friday, and the festive season, is jamming card slots or PIN pads to steal cards or money. These methods are designed to create confusion and make it easier for fraudsters to steal people’s cards or money," Khan added.
She also warned about 'shoulder surfing' where someone watches the person input their PIN, regardless of whether at the bank or at a shop where a person has to enter their pin to make payment.
"A growing concern is victims approving one-time passwords (OTPs), which gives fraudsters access to their accounts. We advise customers to never share their credentials or transfer money at anyone's request, even if they claim to be from their bank," Khan stated.
Tips to keep you safe:
Trust your instincts: If an ATM seems faulty or suspicious, cancel the transaction, check your card, report it to your bank, and use another machine.
Choose safe locations: Use ATMs in well-lit, busy areas. Avoid isolated, poorly lit spots.
Be cautious of strangers: Don't accept help from strangers at ATMs. Fraudsters often use distractions to steal your card or money.
Protect your PIN: Always cover your PIN when entering it, and only enter it when prompted by the machine. Be aware of anyone looking over your shoulder.
Keep your card secure: Never leave your card unattended and store your PIN separately.
Limit cash exposure: Avoid carrying large amounts of cash, especially during busy periods like the festive season.
Stay alert: Never share your card details, OTP, or PIN over the phone or text. Legitimate banks won’t ask for this information. Hang up if you receive such a call.
Register for My Updates: Ensure your cards are registered for My Updates to receive alerts on all transactions.
Don’t engage: If someone claims you're being defrauded, don't follow their instructions. Legitimate banks will handle suspicious activity on their own.
Stop your lost or stolen cards: You can do this immediately at our ATMs and on the Banking App.
seanne.rall@iol.co.za
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