Internet banking fraud scammer trick warning

What should consumers do about corrupt employees at ABSA and MTN shops?
 
"ABSA gives more details about some of the tricks used by scammers to commit SIM swap and Internet banking fraud"

Is ABSA fuken stupid?? The same information has been provided by them over and over, I do not see how this is any more informative than the previous articles. Do they think everyone keeps on forgetting what they said every week, so they can repeat the same information over and over?

Stop blaming all of your customers and accusing them of falling for phishing attacks, the public already believes that some of them were not such attacks and rather inside jobs. Start finding your corrupt employees and send them to jail for theft and fraud. This is South Africa, are you ignorant of that fact? I am glad I do not bank with you.
 
Simple ABSA, stop using SMS as secure communication. It's not.

Ah but I guess it's to much hassle and costly to change your systems.

Let your clients suffer rather.
 
" lift daily transfer limits and move money around at will."

This should not be allowed unless you go into the bank with positive identification.
 
jes said:
Internet banking fraud scammer trick warning

ABSA gives more details about some of the tricks used by scammers to commit SIM swap and Internet banking fraud
Click to expand...

Here are some tricks to protect yourself against SIM swap fraud:
1: Open a Capitec account
2: Have Capitec transfer all your debit orders to your new account
3: Close your unsafe "sms protected" account (absa, fnb, std, ned)
4: If you need a credit card get a Virgin money card for free
5: Stop living in fear of being defrauded by the likes of absa
 
It seems like the main problem is the power of rogue employees. Would the following be possible to implement?

  1. Passwords and pincodes not be visible to bank employees
  2. To reset these parameters the client will need his/her bank card for verification

Sim swaps will render useless if fraudsters don't have access to pin and password. The client should then have control in keeping it secure
 
Species8472 said:
Here are some tricks to protect yourself against SIM swap fraud:
1: Open a Capitec account
2: Have Capitec transfer all your debit orders to your new account
3: Close your unsafe "sms protected" account (absa, fnb, std, ned)
4: If you need a credit card get a Virgin money card for free
5: Stop living in fear of being defrauded by the likes of absa
Click to expand...
What do you suggest I do if I need an overdraft facility?
 
One phishing scam that nearly caught me was an "ABSA Kredietkaart Rekening staat" email. You get them every month with an emc encrypted html attachment.

I've received one where it stated "ABSA Kredietkaart Rekening staat - Betaling gehef" and I thought, wtf, My CC is paid up, why are they deducting a payment ? This prompted me to open this asap.

Fortunately, I noticed that the attachment wasn't the encrypted .emc file.

I thought I could smell a phishing scam a mile away, but this one nearly got me (I of course would not have entered any sensitive info, but just opening the attachment itself is dangerous enough)

So, I'm not surprized that people get phished easily.
 
Seriously said:
Rather live within your means.
Click to expand...
Some people abuse these facilities. An overdraft is used only as a backup and can be very handy in certain situations or predicuments. Compare that to having credit cards and the associated high interests. Coincidently i dont have any credit cards. I'm very responsible with money and the only debt I have are 2 home loans.
 
The first thing which typically happens, said Vermooten, is that an Internet banking client falls for a phishing attack. This gives the scammer access to a client’s Internet banking details, including their username and password.
Click to expand...

Explain this one to me. Many victims claimed they did not experience this phase.
 
Species8472 said:
Here are some tricks to protect yourself against SIM swap fraud:
1: Open a Capitec account
2: Have Capitec transfer all your debit orders to your new account
3: Close your unsafe "sms protected" account (absa, fnb, std, ned)
4: If you need a credit card get a Virgin money card for free
5: Stop living in fear of being defrauded by the likes of absa
Click to expand...

this should be in the article. not everyone reads the forum discussions. :)
 
Species8472 said:
Here are some tricks to protect yourself against SIM swap fraud:
1: Open a Capitec account
2: Have Capitec transfer all your debit orders to your new account
3: Close your unsafe "sms protected" account (absa, fnb, std, ned)
4: If you need a credit card get a Virgin money card for free
5: Stop living in fear of being defrauded by the likes of absa
Click to expand...

4: Capitec now also offers a MasterCard CreditCard facility for online purchases. I registered mine last week. The CC # is already printed on your gold bank card in the format xxxx-xxxx-xxxx-xxxx. There must be funds in your account to use the facility - which is better for security in my opinion.

Info - https://www.securecode.com/capitecbank
 
Last edited:
Franna said:
4: Capitec now offers a MasterCard CreditCard facility for online purchases. I registered mine last week. The CC # is already printed on your gold bank card in the format xxxx-xxxx-xxxx-xxxx. There must be funds in your account to use the facility - which is better for security in my opinion.

Info - https://www.securecode.com/capitecbank
Click to expand...

I prefer to keep it seperate (Capitec Meastro/ Virgin CC with very low limit) so that ABSA-tillpoint-purchase/Capitec late transaction thing from January cannot happen to me, it only affected the the mastercard type debit cards, not the old style ones.
 
Franna said:
4: Capitec now also offers a MasterCard CreditCard facility for online purchases. I registered mine last week. The CC # is already printed on your gold bank card in the format xxxx-xxxx-xxxx-xxxx. There must be funds in your account to use the facility - which is better for security in my opinion.

Info - https://www.securecode.com/capitecbank
Click to expand...

I agree 100%. Since I replaced my old Capitec card with one of the new chip cards I have not touched my VM credit card. But it is good to know that if **** happens I have a bit of credit available, something you don't get with the Capitec card.

visrot said:
What do you suggest I do if I need an overdraft facility?
Click to expand...

I also feared not having an overdraft, my absa account had a nice R5000 buffer for those idiot debit orders that happen a day early over public holidays (only happened once to me).

What I did was move all my debit orders to a few days after payday. At least that way I cannot get a debit order "just before" my salary.

Point is, try to keep a bit of money in your account for the unforeseen debit order, other than that if you need credit you can either use a credit card (many nice options out there, Woolworths, Virgin Money, Discovery, etc) or get a personal loan.
 
Mr.Jax said:
One phishing scam that nearly caught me was an "ABSA Kredietkaart Rekening staat" email. You get them every month with an emc encrypted html attachment.

I've received one where it stated "ABSA Kredietkaart Rekening staat - Betaling gehef" and I thought, wtf, My CC is paid up, why are they deducting a payment ? This prompted me to open this asap.

Fortunately, I noticed that the attachment wasn't the encrypted .emc file.

I thought I could smell a phishing scam a mile away, but this one nearly got me (I of course would not have entered any sensitive info, but just opening the attachment itself is dangerous enough)

So, I'm not surprized that people get phished easily.
Click to expand...

Yea, I had the same one this morning and it was a first for me. Luckily for me with all the stories going around I paid extra attention, so I didn't even click on it. But still, the text and everything was exactly the same, only the attachment that differs. The scammers are definitely upping their game.
 
Phishing scam

Mr.Jax said:
One phishing scam that nearly caught me was an "ABSA Kredietkaart Rekening staat" email. You get them every month with an emc encrypted html attachment.
Click to expand...

I don't respond to any kind of bank e-mails. my bank homepage is bookmarked in my browser and I use that to visit the website.

But I was caught by a twitter phishing scam a few months back, something about one of my followers (e-mail had his user name and his profile pic) posting a picture about me.

Fortunately after I typed in my password I wasn't able to log on, I then had a look at the URL and realised how stupid I had been, I changed my password immediately. A few days later got an e-mail from twitter saying someone tried to access my account.

A good wakeup call for me since I always considered myself "Tech savvy" and not one to fall for such scam.
Just show you how easily you can get caught in such an attempt with a moments inattention.
 
Species8472 said:
Point is, try to keep a bit of money in your account for the unforeseen debit order, other than that if you need credit you can either use a credit card (many nice options out there, Woolworths, Virgin Money, Discovery, etc) or get a personal loan.
Click to expand...
Interest on these are too high
 
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