Fes­tive sea­son bank­ing cau­tion

Weekend Argus (Saturday Edition) - - METRO - SHANICE NAIDOO [email protected]

THE SA Bank­ing Risk In­for­ma­tion Cen­tre (Sabric), on be­half of the bank­ing in­dus­try as well as the Hawks, has called on ev­ery­one to pro­tect their bank­ing in­for­ma­tion.

“Crim­i­nals are mas­ters at so­cial en­gi­neer­ing and know just how to ex­ploit hu­man vul­ner­a­bil­i­ties to per­pe­trate crimes, par­tic­u­larly over the fes­tive sea­son, when they tend to let their guard down,” said Sabric chief ex­ec­u­tive Kalyani Pil­lay.

Rob­beries where crim­i­nals fol­low a vic­tim af­ter a with­drawal at an ATM or from the bank re­main rife, as crim­i­nals know that at this time of year peo­ple re­ceive their stokvel pay­outs and bonuses.

Sabric urges bank clients to avoid car­ry­ing large amounts of cash.

Pil­lay high­lighted a scam, known as the “Money Bomb”, where the crim­i­nal drops a roll of pa­per cov­ered in gen­uine ban­knotes near the vic­tim af­ter they have trans­acted at an ATM.

The crim­i­nal then ap­proaches the vic­tim and sug­gests go­ing to a re­mote lo­ca­tion to share the money. At the re­mote lo­ca­tion, the vic­tim is robbed of the money they with­drew, of­ten vi­o­lently.

She added that peo­ple are still com­pro­mised be­cause of phish­ing, vish­ing or the in­stal­la­tion of mal­ware on to a vic­tim’s de­vice by hav­ing them click on a link, en­abling the crim­i­nal to steal suf­fi­cient per­sonal in­for­ma­tion to ac­cess their on­line bank­ing pro­file.

Sabric has also seen an in­crease in the hack­ing of so­cial me­dia pro­files, where a vic­tim’s so­cial me­dia ac­count is hi­jacked by hack­ing their ac­count, or by cre­at­ing a du­pli­cate ac­count us­ing stolen per­sonal in­for­ma­tion.

The crim­i­nal then ac­cesses the vic­tim’s con­tacts, fab­ri­cates a tragic story, and sends a mes­sage to their con­tacts re­quest­ing money.

The vic­tim’s con­tacts then un­know­ingly trans­fer money to the crim­i­nal.

Western Cape Hawks spokesper­son Cap­tain Phi­lani Nk­walase said the key is to al­ways make sure there are no added de­vices on the ATM that could be du­pli­cat­ing your card.

“When key­ing in your PIN, cover it – whether you are at a shop, restau­rant or ATM,” said Nk­walase.


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