Remote Access Scams On the Rise
Along with the very harsh 3rd wave of the pandemic a new wave of scams has been hitting SA banking consumers. Criminals are now trying to get consumers to install software onto their phones and laptops that allow them remote access (they can use it without your permission). Once these apps or files are downloaded onto your device it will allow them to “see” what is on your screen (including things like your passwords).
FNB Warn Clients
Giuseppe Virgillito who is the FNB head of digital banking says: “With remote access scams, fraudsters will call to offer you help to ‘block a fraudulent transaction’ by downloading and installing ‘protective’ software on your devices. Once you download the remote access software, they’ll ask you to log into your personal online banking profile.
‘fraudsters will call to offer you help to ‘block a fraudulent transaction’ by downloading and installing ‘protective’ software on your devices’
“Once you’ve logged in, your device will go blank and shortly afterwards you will start receiving OTPs to confirm transactions that you did not perform. The fraudster then reassures you that these are fraudulent transactions and request you to either approve or send them the OTPs for them to block the transactions. Meanwhile, they are the perpetrator using the OTP to process the fraudulent transaction.”
‘A One Time Pin cannot be used to reverse a fraudulent transaction‘
Mr Virgillito confirms this. He says: “Never share your OTP – FNB will never ask you to share your one-time PIN under any circumstances”. That would also include any type of supposed fraudulent transaction on your accounts. It will never happen. If someone is telling you that you need to give them your one time pin then you are dealing with a scammer.
He also says that: “An OTP cannot be used to reverse a transaction and never approve Smart inContact requests for transactions you did not initiate. If you receive a Smart inContact for a transaction you did not initiate yourself do not select ‘approve’ – this will allow the money to be moved out of your account.”
To give you a taste of how common scams are these days in just the first 3 months of 2021 Standard Bank had to get 5000 fake Standard Bank websites shut down to protect consumers. And that’s just the ones pretending to be Standard Bank in 3 months never mind all the other banks where scammers are doing the same thing.
As fast as the various banks can shut them down new ones are popping up. Millions of emails are sent monthly to consumers trying to scam them into entering their banking login and password.
Please be careful!
If there is one takeaway from this article it is this:
A One Time Pin cannot be used to reverse a fraudulent transaction no matter what anyone tells you.