BANKING SCAMS
Phishing scams are all about tricking you into handing over your personal and banking details to scammers. The emails you receive might look and sound legitimate, but genuine organizations like a bank or a government authority will never expect you to send your personal information by email or online.
Scammers can easily copy the logo or even the entire website of a genuine organization. So don’t just assume an email you receive is legitimate. If the email is asking you to visit a website to ‘update’, ‘validate’ or ‘confirm’ your account information, be skeptical.
Delete Phishing Emails
They can carry viruses that can infect your computer. Do not open any attachments or follow any links in phishing emails.
Fake Fraud Alerts
A fake fraud alert is similar to a phishing scam. The scammer will contact you by email or phone and tell you there is a problem with your account. To fix the problem or upgrade the security of your account, they will ask you to confirm all your personal details. Scammers have been known to make up all sorts of stories to trick their victims.
Some people are told that their credit card has been used to make a suspicious purchase in a foreign country and others have simply been told that their details are needed for a security and maintenance upgrade.
Banks and financial institutions will often contact people to alert them to suspicious activity on their account, but they will never ask you to provide your details online or over the phone. If in doubt, ring the bank yourself.
Card Skimming
Card skimming is the copying of information from the magnetic strip of a credit card or ATM card. Once scammers have skimmed your card, they can create a fake or ‘cloned’ card with your details to make charges on your account. Or they may simply photocopy your card and use the details.
Be suspicious if a shop assistant insists on taking your card out of your sight to process your transaction or tries to swipe your card through more than one machine. If the machine doesn’t look right to you, don’t use it.
Remember
- A legitimate bank or financial institution will never ask you to click on a link in an email or send your account details through an email or website.
- Never send your personal, credit card, or account information by email or enter it on a website that you are not certain is genuine.
- Don’t give out your personal, credit card, or account details over the phone unless you made the call and the phone number came from a trusted source.
Think
Are the contact details provided in an email correct? Telephone your bank or financial institution to ask whether the email you received from them is genuine. Use a phone number that you know is legitimate, from an account statement, the phone book, or the back of your ATM card—do not rely on the contact details provided in the email.
Ask Yourself
Are the contact details provided in an email correct? Telephone your bank or financial institution to ask whether the email you received from them is genuine. Use a phone number that you know is legitimate, from an account statement, the phone book, or the back of your ATM card—do not rely on the contact details provided in the email.