Banking Fraud South Africa

Sourced from Pure Cloud Solutions To prevent becoming the victim of fraudsters, it’s vital to be on guard, especially when using transactional, card-based accounts linked to cheque and savings accounts. Vijay Naidoo, CIO at Old Mutual Finance, pointed out that “…transactional accounts are among the most commonly used accounts, which means they are prime targets for scammers.” “Scammers are continually finding new ways to gain access to personal banking information and use it to defraud unsuspecting customers. So, banks need to continually upgrade their security systems, while consumers need to be informed and alert.” Phishing involves sending what appears to be an official email notification from an institution. If you open the message, malware is installed on your computer and account inf...