Possible Fraud?

[Kayoss]

My dad (who knows nothing about technology) received 91 calls from a private number today before finally turning his phone off.

When he gave me his phone to assess, I noticed there was no signal. I realised that a sim swap must've been done and I phoned Vodacom right away off my line. they confirmed that a sim swap was done, even though it's a business account and thus requires paperwork for the swap to be approved.

Here's the thing.. He's 63 and doesn't believe in internet banking. He refuses to sign up to it (thank goodness for that right now!) but I cannot work out why they would target him in such a scam. I phoned his bank and they confirmed that this scam is targeted at internet banking, and that these scammers tend to have your login details before they go for the sim swap.

Any idea what could be going on here? What could the possibly do with his phone number, if he has no internet banking? He also has a credit card that he never even got around to activating, so he only has his savings accounts and his business accounts (without any credit/debit cards).

 

[HavocXphere]

That does sound like an attempted sim swap fraud yes...

I'd suggest double checking with the bank anyway - perhaps they somehow managed to activate online banking.

 

[Kayoss]

That does sound like an attempted sim swap fraud yes...

I'd suggest double checking with the bank anyway - perhaps they somehow managed to activate online banking.

Thanks

I did phone the bank, yes. He has accounts at ABSA, FNB, and Standard Bank. Both ABSA and FNB assured me that nothing could happen as he has no online banking or active credit cards. Standard Bank's fraud department were nothing short of useless as they said that because it's a business account, he can only phone at 8 am. Their fraud department only deals with online banking/credit cards.

Regarding activating online banking, presumably that is something that requires paperwork? I mean, if he never signed up to online banking, surely it could only get activated by going into a bank and signing papers, etc.. If that's the case, then the bank would have some explaining to do if a fraudster is able to walk into their bank and sign up somebody to a service that they do not have!

 

[supersunbird]

It could also be as simple as them targeting the wrong cellphone number (by 1 incorrect digit) for a bank account that they had phised somehow with poor information.

Still, the SIM swap should be investigated on its own value, and the person who did the transaction identified and dealt with.

And yes, if online banking is enable, then that's the banks problem.

 

[Arthur]

Thanks

I did phone the bank, yes. He has accounts at ABSA, FNB, and Standard Bank. Both ABSA and FNB assured me that nothing could happen as he has no online banking or active credit cards. Standard Bank's fraud department were nothing short of useless as they said that because it's a business account, he can only phone at 8 am. Their fraud department only deals with online banking/credit cards.

Regarding activating online banking, presumably that is something that requires paperwork? I mean, if he never signed up to online banking, surely it could only get activated by going into a bank and signing papers, etc.. If that's the case, then the bank would have some explaining to do if a fraudster is able to walk into their bank and sign up somebody to a service that they do not have!

Some years ago a brother had a very large sum cleaned out of his ABSA account through an online banking fraud.

The fraud was only picked up several weeks after it occurred, when the bank phoned him to say that his account balance was negative and that he needed to make a deposit.

The bank said that the funds had been depleted through an internet banking transaction. However, my brother had never had a computer in his life and had never applied for or used an online banking facility.

An investigation quickly uncovered a number of corrupt bank employees who scanned accounts for large balances and then used internal processes to steal the money by creating false internet banking application forms.

So, yes, it is possible for your dad's money to be stolen. Sometimes the crooks work for the bank.