We all hear about scams and to be careful.
We are going to look at how does these scams work and how they look.

Content in this blog cover the following info:
General ways these fraudsters go about
ABSA –  Fraud Samples and Best practice
Capitec –  Fraud Samples and Best practice
FNB –  Fraud Samples and Best practice
Nedbank –  Fraud Samples and Best practice
Standard Bank –  Fraud Samples and Best practice
(Click on the Bank name to visit there web-site)

We listed the banks in alphabetical order.
Please note – the sequence does not imply the vulnerability of the bank or it’s systems.
Fraud and scam samples were sourced from the internet.

Test to see if it is a scam
All scams have a few things in common, if you look at the list and can check more than 2 boxes it most probably is a scam.

  • It sound to good to be true
  • You must click on a link or open an attachment to get the money
  • You have limited time to respond
  • You are not expecting any money
  • The money is from a person / organisation / business unknown to you
  • The money is from a well known organisation / business

If 2 or more of the above is present in the sms, Whatsapp, e-mail or on a web-site. STOP

Many threats can be stopped even before you see them.

Virus Protection and Internet Security

A good and reputable Anti-Virus and Internet Security Software solution must always be installed on your Smart Phone, Tablet and Computer. eScan offers all you need. Click here to see more and download a free 30 day trial version. We sell the full software solution for R350 incl. VAT for a year’s protection.

DO NOT phone any number or respond to any e-mail address or link, supplied in the message
Look-up the number for yourself, go to the local branch or ask a trusted person / business (i.e Auditor / Financial Adviser) to verify the message or contact details. Contact the relevant organisation / business and confirm it.

Here are some examples of SMS’s.

Congratulations, your mobile number have been awarded …………

Congratulations on winning the OMO competition. You have won ……..

Your number have been drawn in the ……….. and you won…….

If you did not enter a competition, you are not able to win it.
Finish and Klaar

Here is a list of scamming methods.

Phishing scams
Fraudsters often send out emails claiming to be from Absa (or other reputable organisations) – commonly known as ‘phishing’ – many of which look very authentic as they make use of the Absa logo and corporate colours to convince you that the email is legitimate.

Often, the email makes reference to your account being suspended, and the only way you can stop this suspension is to click on the link supplied and update your personal details. Although this link does not link to the real Absa website, these websites are usually designed to look exactly like the Absa site, and it becomes difficult to differentiate between this site and the real site.

Delayed phishing attacks
In some cases, fraudsters may obtain your access credentials long before any attempt is made to defraud your account. It is very important to change your banking logon information such as your PIN and password regularly to prevent delayed phishing attacks.
Vishing scams
Vishing is a combination of “voice” and “phishing”. As with phishing scams, the fraudsters use social engineering to gather confidential information, such as your ID number, banking details and the login details to your internet banking or cellphone banking. This is done either via your cellphone or your landline.

The fraudster will pretend to be a bank representative or other authoritative person that needs your information to solve a problem or to prevent your account from being closed. Once they have the information, they will defraud you before you realise that you have been scammed.

You should never trust any caller asking for personal information.

SIM swapping
If a fraudster has a false copy of your identity document, they can perform an illegitimate SIM swap with your cellphone service provider. The fraudster now has full use of your cellphone account and will receive messages intended for you. They will also receive the confidential banking notifications and approval SMSs that the bank sends to customers.

If they have already tricked you to give them your personal and account details, they can transfer money from your account without you knowing. If Absa becomes aware of a SIM swap, a temporary hold is placed on your account to allow you to authenticate yourself.
If the SIM swap was legitimate, you can wait out the 36 hours or authenticate yourself by calling our Contact Centre. Once you have been verified as the actual Absa customer, the hold will be lifted.

Watch out for this cellphone scam that enables fraudsters to port your number and gain access to your accounts.

Fraudsters port the victim’s number from one cellphone service provider to another. Some cellphone service providers send SMSs for the account holder to confirm that they are transferring to another service provider. When these confirmation messages are ignored, the porting goes through and the fraudsters have access to the victim’s cellphone messages, including the approval SMSs that the bank sends to customers.

If they have already tricked you into giving them your personal and account details, they can transfer money from your account without you knowing. Always keep your cellphone switched on and don’t ignore messages from your service provider.

Twin SIM
Be aware and pay special attention to all messages received from your network service provider regarding Twin SIM functionality. Please notify your  bank’s Fraud Hotline immediately.

Do not switch off your phone. Take note of any logon notifications when you are not logging on to Absa Online yourself

419 scams
If you receive an email with an offer that seems too good to refuse, it probably is a 419 scam.

We have all received those badly-spelled, lengthy emails that tell you in detail how you have won the lotto; or that they will give you large sums of money in return for helping them; all they need are your bank details or some cash. It may sound like an opportunity you can’t miss – but be wary of offers like these.

What is a 419 scam?

A 419 scam usually consists of a letter, email, SMS or fax that tells the intended victim that they will receive a large sum of money due to something like winning the lottery, a job offer, a joint venture or an inheritance. The sender then requests your bank account information so that they could transfer the money into your account, with the additional request that you send money to “help the transfer along”. Many people send thousands before they realise that they have been taken in by a scam.

What does a 419 scam look like?

If you receive an SMS or email, and you are not sure if it is a 419 scam, there are some markers that you can look out for:

  • There are large amounts of money promised, usually in dollars or pounds, for your help.
  • The letters are usually sent by someone claiming to be on a high level of authority (a prince, lawyer, bank official, doctor, or government official).
  • There is often emotional bribery involved, with an illness or a death being mentioned as motivation to help.
  • You will generally be asked to communicate by email.
  • Authenticity is often boosted by the presence of attachments such as tax clearance certificates.
  • They are generally full of grammar and spelling mistakes; and if they contain links to websites, these are generally also full of spelling mistakes and non-standard language (such as using all capital letters).

I have received a 419 scam email – what do I do with it?

Firstly, do not reply. These emails are sent out in bulk to a number of email addresses in the hope that someone falls for the scam. You can then either forward the email to the South African Police Services, or delete them.