Financial services providers are continuously ramping up efforts to combat fraud with cutting-edge technology, but despite this effort, end-users of financial products should actively participate in fraud prevention to make it difficult for criminals.
“The simplest way for consumers and businesses to support fraud prevention is to pay attention to fraud education and updates from service providers,” said Giuseppe Virgillito, FNB head of digital banking.
“Keeping up to date on the latest scams can be difficult for an end-user, so it makes sense to use tips that financial services providers share on a regular basis. For example, at FNB, we monitor scams on a daily basis, and we use digital channels such as the FNB App and Online Banking to alert our customers on what to look out for and how to avoid being scammed.”
To help consumers and businesses avoid being scammed, Virgillito shares some of the current scams and tips to help protect yourself:
- Lost/stolen device: The fraudster sends a message to the victim in order to ‘assist’ them in locating their recently stolen device. The fraudster usually claims that by clicking on the embedded link provided by the fraudster, the victim will be able to locate the device. If your device is lost or stolen, the first step is to delink your device from your App, block your banking profile, and contact your bank for assistance.
- Remote access: Be wary of random requests to install software on personal or business…
