Fraud is becoming increasingly popular across the globe. More people are taking their chances by coming up with creative and more sophisticated ways of stealing from individuals, companies and government institutions.
Common types of fraud in South Africa include:
Tech Support Call Fraud
Dubbed the “cold calling technical support scam”, this scam allows fraudsters to clean out your bank account in seconds. How it works:
Unsuspecting victims are called by fraudsters posing as software company technicians and are told that they need to “sort out a problem” with their PC. The criminals then gain remote access to the target PC and load malware to get access to the victim’s banking details.
Faulty Credit Card Machine
Credit card fraud is on the rise in South Africa, with Gauteng, Western Cape and Kwazulu-Natal showing the most prevalence. The faulty credit card machine scam is the most popular type. So how does it work?
A person with a company’s card machine tells the customer that the device is not working. He/she fetches another one, which is actually programmed to steal bank card information. The skimming software records card information and your PIN. This is often used by waitrons in the restaurant industry to scam unsuspecting victims.
Ways to avoid falling victim to this scam:
- Always follow your card
- Report any suspicious behaviour
- Make sure that you check for any foreign objects attached to a card machine
- Always check your bank statements for suspicious transactions
Bank phishing emails
Phishing scams are becoming some of the most common types of fraud in South Africa. These emails often look like an official communication from the bank. By clicking on links in the emails, it may make the PC vulnerable to malware or take the victim to a fake baking website, which will capture their bank account details when entered.
Make sure that you don’t click on every link you come across. Your bank will never ask you to send your passwords or personal information by email. Stay alert to anything that seems suspicious.