Bankers send fraud alert

THE Bankers Association of Zambia (BAZ) has warned the public to be attentive during the current difficulty economic times under the Covid-19 dispensation as fraudsters have taken advantage of the situation.

The public should immediately report any suspicion or intimidation received on phone or any other media platform to the bank or state police, says BAZ Fraud Prevention and Security Committee Member, Vitalis Hamusonde.

Mr Hamusonde observed that fraudsters had now resorted to using excitement and fear to get customers to respond positively to their demands.

“The art of excitement appeals to your immediate emotional, material and monetary needs. In these difficult economic times under the Covid-19 dispensation, any news of winning a lottery or some gambling game is good news,” he said in a write-up on Beware of Manipulative Tactics of Fraudsters!

Fraudsters, he explained, were always researching for new techniques to avoid new security systems and to dupe customers through intellectual manipulation.

Mr Hamusonde said over time fraudsters had mastered and perfected the art of marketing and public relations even when most of them may have no formal education.

He warned that fraudsters had also started employing marketing strategies to lure customers to disclosing their personal banking details.

“For instance, the fraudster will call customers, by phone, to tell them that they have won a prize,” Mr Hamusonde said. Mr Hamusonde had therefore urged the public to always endeavour to verify information received, from whatever source, with their bank saying “if you can, make a personal visit to your bank before responding to any request involving your finances.”