Scammers are always finding new ways
to trick you, but many scams are based
on an existing one, so being aware of the
different types of scams is the best way
to spot new ones. Though banks are
trying their best by investing heavily in
technology and cyber-security in order
to beat the best of hackers, there are
some lawbreakers that can still use some
stratagem in an attempt to obtain
money from your bank account at an
ATM Station but the most wow about
such incident, it might have happened
while you are relaxing in your bedroom
with your ATM card carefully kept in the
brief-case beside you. It was difficult to
prove to the bank it wasn’t you since all
the details were supplied to the banking
payment system tallied with yours.
to trick you, but many scams are based
on an existing one, so being aware of the
different types of scams is the best way
to spot new ones. Though banks are
trying their best by investing heavily in
technology and cyber-security in order
to beat the best of hackers, there are
some lawbreakers that can still use some
stratagem in an attempt to obtain
money from your bank account at an
ATM Station but the most wow about
such incident, it might have happened
while you are relaxing in your bedroom
with your ATM card carefully kept in the
brief-case beside you. It was difficult to
prove to the bank it wasn’t you since all
the details were supplied to the banking
payment system tallied with yours.
We agree that the percentage of scams
were reduced by 85 per cent through the
introduction of the token-text
authentication system and chip-pin
cards but it can't be eradicate totally,
scammer also have new tools to ensure
you either make the payments or
willingly ‘share’ your banking details as
they are more knowledgeable than the
average ATM card holder.
were reduced by 85 per cent through the
introduction of the token-text
authentication system and chip-pin
cards but it can't be eradicate totally,
scammer also have new tools to ensure
you either make the payments or
willingly ‘share’ your banking details as
they are more knowledgeable than the
average ATM card holder.
The best way you can prevent this is to
be fully aware of the possible dangers
that lurk in cyberspace.
Below are the most common banking
scams you need to know as a bank
customer; a list originally posted on
be fully aware of the possible dangers
that lurk in cyberspace.
Below are the most common banking
scams you need to know as a bank
customer; a list originally posted on
» Stolen chips, cheap passwords
If your wallet or bag gets stolen, chances
are that your ATM will be close to your
ID card. Fraudsters can easily withdraw
with your card if you are the type that
use cheap passwords like date of birth as
your PIN.
The best way to prevent this is to use
more secure passwords. In case you lose
your card, don’t wait till you begin to
receive alerts, report to the bank
immediately.
are that your ATM will be close to your
ID card. Fraudsters can easily withdraw
with your card if you are the type that
use cheap passwords like date of birth as
your PIN.
The best way to prevent this is to use
more secure passwords. In case you lose
your card, don’t wait till you begin to
receive alerts, report to the bank
immediately.
» Phishing – Some ‘fake’ banks need
your password to upgrade
While pretending to come from an
original bank, they send out emails
designed to lure you into revealing your
banking/personal password, token pins
or text codes which is then used to access
your bank accounts online. Such mails
comes with link which if clicked,
redirects you to a cloned site (fake site
that looks like your bank's site) where
your data will be captured by the
fraudsters.
No bank will need your password details
for any upgrade. Ignore any email
requesting such. Avoid clicking on such
links and avoid using public computers
for personal banking transactions.
When you spot a phishing scam, report
it to the bank immediately. This allows
the bank to take the necessary actions
that get the website blacklisted, banned
or taken down.
your password to upgrade
While pretending to come from an
original bank, they send out emails
designed to lure you into revealing your
banking/personal password, token pins
or text codes which is then used to access
your bank accounts online. Such mails
comes with link which if clicked,
redirects you to a cloned site (fake site
that looks like your bank's site) where
your data will be captured by the
fraudsters.
No bank will need your password details
for any upgrade. Ignore any email
requesting such. Avoid clicking on such
links and avoid using public computers
for personal banking transactions.
When you spot a phishing scam, report
it to the bank immediately. This allows
the bank to take the necessary actions
that get the website blacklisted, banned
or taken down.
» Text Fraud
With the emergence of text messaging
systems which allow users to send bulk
SMS while customising the name of the
sender, fraudsters can dupe you if your
business relies more on alerts systems
(email or text).
With the emergence of text messaging
systems which allow users to send bulk
SMS while customising the name of the
sender, fraudsters can dupe you if your
business relies more on alerts systems
(email or text).
"James (not real name) is a
car dealer who told a
customer to go on and
make payment at the bank
while he waited patiently
for a text message. No
sooner had he received the
text message from the
‘bank’ than he released the
car only to realize later
that the text message from
the ‘bank’ was fake. He had
clearly fallen victim of
advanced text fraud
car dealer who told a
customer to go on and
make payment at the bank
while he waited patiently
for a text message. No
sooner had he received the
text message from the
‘bank’ than he released the
car only to realize later
that the text message from
the ‘bank’ was fake. He had
clearly fallen victim of
advanced text fraud
While most bulk texting gateways are
already taking precautions to vet
messages before they go out, always try
to confirm payment independently from
your account officer, your bank balance
on your ATM, online banking channel or
through systems created by the bank. Be
wary of a credit alert that doesn't show
your account balance.
already taking precautions to vet
messages before they go out, always try
to confirm payment independently from
your account officer, your bank balance
on your ATM, online banking channel or
through systems created by the bank. Be
wary of a credit alert that doesn't show
your account balance.
» Withdraw at gun point
Some crooks especially at nights, force
their victims to withdraw cash from an
ATM by threatening them with a gun.
Use only bank ATM machines in well-lit,
high-traffic areas. ATMs inside busy
supermarkets are considered safer.
Don’t use ATM machines that are remote
or hidden, such as being located behind
buildings, behind pillars, walls, or away
from public view. Beware of obvious
hiding places like shrubbery or
overgrown trees.
Avoid ATMs where people are lurking
around. Since you cannot return the
money to the ATM, don’t waste time
counting money at night.
If the precautions above been take
properly, those crooks won't find it easy
to obtain your money from your bank
account.
their victims to withdraw cash from an
ATM by threatening them with a gun.
Use only bank ATM machines in well-lit,
high-traffic areas. ATMs inside busy
supermarkets are considered safer.
Don’t use ATM machines that are remote
or hidden, such as being located behind
buildings, behind pillars, walls, or away
from public view. Beware of obvious
hiding places like shrubbery or
overgrown trees.
Avoid ATMs where people are lurking
around. Since you cannot return the
money to the ATM, don’t waste time
counting money at night.
If the precautions above been take
properly, those crooks won't find it easy
to obtain your money from your bank
account.
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