So­cial me­dia scams to look­out for in the New Year

“Avoid shar­ing per­sonal in­for­ma­tion, such as ID, pass­port, driv­ers li­cence, pay slip, bank state­ment, mu­nic­i­pal or ac­count state­ment son so­cial me­dia .”

Inner City Gazette - - Finance tips -

As so­cial me­dia con­tin­ues to gain promi­nence amongst South African con­sumers, plat­forms like In­sta­gram, Youtube, Face­book and Twit­ter have also be­come a plat­form where fraud­sters at­tempt to catch un­sus­pect­ing con­sumers off guard.

Kovelin Naidoo, Chief Cy­ber Se­cu­rity Of­fi­cer at FNB, says although so­cial me­dia scams in

South Africa are not yet preva­lent, com­pared to our global coun­ter­parts; the re­al­ity is that they do ex­ist.

“Given that the pop­u­lar­ity of so­cial me­dia is set to re­main for the com­ing years, con­sumers are en­cour­aged to con­stantly ed­u­cate them­selves and their loved ones about the lat­est meth­ods that fraud­sters use to get hold of their vic­tims’ per­sonal in­for­ma­tion,” adds Naidoo:

Black­mail – never share per­sonal pho­tos or videos on so­cial me­dia that por­tray you in a com­pro­mis­ing po­si­tion as scam­mers can use these against you by threat­en­ing to send them to close fam­ily mem­bers or up­load them on pub­lic plat­forms.

Phish­ing - beware of fraud­sters pre­tend­ing to rep­re­sent your bank on so­cial me­dia plat­forms. Your bank will never ask for your credit or cheque card, ac­count num­ber, on­line bank­ing lo­gin de­tails or pass­word or One Time PIN (OTP) on so­cial me­dia plat­forms.

Help and favours - be on high alert when asked for special fi­nan­cial favours or ur­gent as­sis­tance by strangers, no mat­ter how car­ing or per­sis­tent the in­di­vid­u­als may seem.

Never share your bank­ing de­tails with strangers and think twice be­fore send­ing money to some­one you re­cently met on­line or haven’t met in per­son yet. Dat­ing and ro­mance scams - con­sumers who use so­cial me­dia plat­forms to meet com­pan­ions or their life part­ners should look­out for fraud­sters that play on emo­tional trig­gers to scam peo­ple out of their hard earned cash.

Dat­ing and ro­mance scam­mers of­ten lower your de­fences by ap- peal­ing to your com­pas­sion­ate side in or­der to take ad­van­tage of you.

Iden­tity theft – avoid shar­ing per­sonal in­for­ma­tion, such as ID, pass­port, driv­ers li­cence, payslip, bank state­ment, mu­nic­i­pal or ac­count state­ments on so­cial me­dia.

Fraud­sters can steal your in­for­ma­tion and use it il­le­gally by im­per­son­at­ing you. Money laun­der­ing – scam­mers of­ten trick peo­ple through so­cial me­dia plat­forms by claim­ing to have large sums of cash that they need to de­posit ur­gently through a for­eign bank ac­count.

Do not al­low your ac­count to be used by an­other per­son to de­posit or trans­act on.

This can put you in se­ri­ous trou­ble with au­thor­i­ties as al­low­ing pro­ceeds of crime to be laun­dered through your bank ac­count, know­ingly or un­know­ingly, is a crim­i­nal of­fence.

Fur­ther­more, never open a bank ac­count in your name on be­half of a per­son you have met on so­cial me­dia plat­forms, ir­re­spec­tive of the cir­cum­stances.

“When all safety pre­cau­tions are taken into ac­count, so­cial me­dia re­mains one of the best plat­forms that con­sumers can use to keep up to date with the lat­est news and trends, in­ter­act and catch up with friends and fam­ily,” con­cludes Naidoo.

Kovelin Naidoo, Chief Cy­ber Se­cu­rity Of­fi­cer at FNB

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