Stay vigilant, stay financially safe

As we move toward the last quarter of the end of the year, there is normally an increased trend in fraudulent activities. Fraudsters have become more sophisticated in their operations as clients migrate to digital channels and have become very persuasive in the way they get information out of the people they intend to defraud. “When you get a call from someone who says they are calling from your bank and they need information from you, or from someone saying they need your banking details to deposit money that you’ve won, you should immediately be suspicious”, says Mr Johnny Truter, Manager: Forensic Services at Bank Windhoek, “end the call immediately or ask them for their name and telephone num​ber and offer to call them back.” The caller themselves are likely to end the call because you became suspicious. Remember, your bank will never ask for your personal or banking details over the telephone.

For fraudsters to gain access to your account they need very specific information. They will need your bank account number, card number, PIN, username and password, and they will skillfully extract this information from you. They will offer to assist with an upgrade to your phone so that you can have access to your funds or claim that you have won some money and they need your banking details to make the deposit. The latest tactic is to ask for the PIN, claiming to extend the expiry date on cards, or to upgrade your internet connection speed. Always keep this information safe and confidential. This information, particularly your PIN, is the key to your hard-earned money and must never be shared with anyone.

“Remain vigilant when taking calls from people you do not know and as a rule, never trust strangers with any of your personal information”, adds Truter, “and remember, you are the only person who should know your PIN. Not even your bank knows what your PIN is, and neither should they,” he concludes. Please remember that your PIN authenticates and approves any form of transaction on your account. 

When asked to enter the card PIN number when paying for shopping, cover the pad with your hand to prevent anyone from seeing your PIN number. The PIN is also used to register for bank products such as a banking Mobile App which may allow the fraudsters to get access to and transact on your bank account. Please make sure your bank has your correct phone details on record otherwise you may not receive transaction notifications. Remain vigilant and share this news with your family and friends.

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