Is Your Bank Account at Risk From Rising Scams?
Discovery Bank Warns of Rising Scams in South Africa
Discovery Bank alerts South Africans to increasing scams targeting bank accounts. Learn how to protect yourself from fraudsters.
Hey there! Discovery Bank has recently raised the alarm about a surge in scams targeting South Africans. Fraudsters are getting more creative, using methods like phishing, vishing, smishing, and pharming to trick people into revealing sensitive information.
What Are These Scams?
- Phishing: Fraudsters send emails that seem to be from trusted sources or companies, often promising a reward or refund, to deceitfully obtain your personal information including passwords, identity number, login details, and credit card details.
- Vishing: Also known as voice-phishing, this scam is similar to phishing in that the objective is to obtain personal information fraudulently. Vishing tricks people into disclosing information over a phone call, rather than visiting a website.
- Smishing: Smishing is a form of phishing where an attacker uses a compelling SMS message to trick targeted recipients into clicking a link and sending private information to the attacker or downloading malicious programs to a smartphone.
- Pharming: This is a cyber-attack intended to redirect a website’s traffic to a fake site that aims to steal your information or your money. In a pharming attack, the criminal hacks into the site you have opened and redirects you to an imposter site.
How to Protect Yourself
- Verify Sources: Always double-check the legitimacy of any communication you receive. If you’re unsure, contact your bank directly using official contact details.
- Be Skeptical of Urgency: Scammers often create a false sense of urgency to pressure you into making hasty decisions. Take the time to evaluate the situation calmly.
- Never Share Sensitive Information: Legitimate banks will never ask for confidential information such as your PIN, password, or one-time PIN (OTP) over the phone or via SMS.
- Reject Requests for Authorisation: Do not approve in-app authorisation messages or load beneficiaries unless you initiated the transaction and are certain of its legitimacy.
- Monitor Your Accounts: Regularly check your bank statements and transaction history for any unauthorised activity.
- Report Suspicious Activity Immediately: If you suspect fraud, contact your bank immediately using official channels to secure your account and report the incident.
Stay Informed
Discovery Bank is committed to keeping you informed about the latest scams and fraud trends. They’ve even added a dedicated Fraud Alerts channel to their app to provide tips and updates.
Your Thoughts?
Have you encountered any of these scams? How did you handle it? Share your experiences in the comments below. Let’s help each other stay safe!
