CONSUMERS’ DOS AND DON’TS IN ELECTRONIC BANKING

MY colleagues and I have in the recent past done articles on the risks associated with Electronic Banking Channels with a view to improving public awareness.

While these are few and the efficiency of the channels is much higher, there are a few exceptions that need to be discussed. I again return to the subject given the unrelenting trends on Mobile Banking Platform fraud.

At first registration on an electronic channel, consumers are required to create a Personal Identification number popularly known as a PIN.

Change of Land

Unfortunately, most consumers resort to using their year or birth or combination of their birth date and year of birth.

Through use of social media platforms, physical forms and registers this information remains readily available to unscrupulous persons orchestrating fraud.

Social Apps are notorious for carrying birth dates of account holders which information is readily available in just seconds to anyone looking for it.

All that fraudsters require to do thereafter is to obtain phone numbers and replacement of SIM cards and attempt a combination of the digits representing your birthdate.

The success rate is, as you can image, is inordinately high and for this reason consumers are implored not to use birth dates an innocent obedient, rule abider or their nominated agent, and or simple number combinations ing child will remain that way in unless the consumers can prove such as 1234 when creating their the face of temptation arising negligence against their bankers, PINs. from peer pressure and the prosBanks seldom accept liability for

It is concerning for us that pect of having money, is very low. such drawings. physical records such as VisitaOne can safely argue that any You will in other words have tion Registers, Covid contact regvalue left invitingly available can no recourse on the Banks for any isters and Employee Attendance quickly change a person’s dispodrawings using your PIN. Registers in the majority of cases LUSAKA sition PROVINCE and cause PLANNING him to become AUTHORITY Long string codes are also requiring more information than a criminal. used to create commands on

P.O BOX 50063

is necessary for their purpose, reTherefore, when Bankers say certain platforms such as USSD

LUSAKA

main in use. consumers should not entrust or based channels. Each number

Aside for their secure storage divulge banking credentials and the consumer enters is in fact a being cumbersome and costly, information to third parties, this command to transact. This un

SECTION 53 OF THE URBAN AND REGIONAL PLANNING ACT , NO. 3 OF

there are parties that are willing is the risk that they see. derscores the need to be alert to pay for the information 2015 PUBLIC they NOTICE Another IN RELATION variant to TO the CHANGE foreOF when LAND interacting USE. with unknown contain. going is the persistent issue of persons on the phone.

With the proliferation of Phishing. In Phishing cases fraudOn liability, I wish to remind

Sader Ismail and Sader Sajeeda on Sub. A3 of Sub No. 13 of Sub. A of Farm No. 396a

phone cameras such information sters call consumers pretending readers that Banking services can be Makeni, sent around Chilanga the world District, in a intends to be calling to apply from for the planning consumers’ permission consumers for Change by accepting of Land the

Use from Agricultural to Mixed Use. The Farm in question is approximately 4212 Square

short space of time for intrusions bankers. terms and conditions of accessto happen from outside the borEither by long string codes ing Electronic Channel services,

Meters and is bordered by Sub. A2 of Sub No. 13 of Sub. A of Farm No. 396a to the North,

ders and proceeds drawn in forwhere they ask the consumer to expressly agree that they are lieign Sub. jurisdictions. A1 of Sub No. 13 of Sub. A enter of Farm a code No. interspaced 396a to the with West, AsSub. able A4 for of Sub any No. omissions 13 of Sub. related

A of Farm No. 396a to the South and a Road Reserve to the East.

Those impacted by such fraud terix and first two digits of a PIN, to divulgence/ compromise of incidents are often left to wonder random numbers, after which banking credentials, including why they were targeted; this is the the last two digits of the PIN are but not limited to PINs, Passreason. This Perhaps application it is time may to have begin significant also requested; environmental or by simply impacts askand/or words a significant and Cards. impact on to change the amenity culture of on adjoining the use properties. of

ing for the PIN after acquiring the Intending consumers are registers. consumers’ confidence, PINs are unable to register on these platElderly and less tech savvy inadvertently or wilfully divulged. forms if they do not accept the

The application may be viewed at Lusaka Province Planning Authority (opposite Ridgeway

consumers often entrust the creThe PIN being in most cases terms and conditions attendant. ation Post of accounts Office Entrance) and operation and submissions the validating or observations criterion on on such the application Seemingly may these be terms made and to conof Mobile Banking platforms platforms, once divulged allows ditions are not read until inci

the Planning Authority without charge. Submissions or Observations must be in writing and

to their children, dependents, the new holder to have full operdents occasion.

made within the period of 30 days beginning on the first date of the period for the

spouses, relatives, or friends. ation of the consumer’s account. As always, your feedback is

In publication doing so such of this consumers notice being 09/02/2022 They can and transfer ending funds on out, 10/03/2022. highly valuable, and this platform trust that the persons’ they allow obtain advances and loans, reoffers an opportunity for further knowledge of PINs and unfetceive deposits and check account engagement with members of

Signed : The Executive Secretary

tered access to account informaactivity. Given PINs are created the public on matters relating tion, On are behalf honest of and LUSAKA cannot PROVINCE deby the PLANNING consumer AUTHORITY. and are only to Commercial Banking. Please ceive them. known by the consumer, the platshare your feedback with us via

Date of erection of site notice 09/02/2022.

The nature of money is that it forms identify any user with a valE-mail: Mirriam.Zimba@baz. is pervasive. The likelihood that id credential as the account own- co.zm