Are the banks involved – Inside Job?

Recently after opening a bank account, I have started receiving Phishing emails from that bank only. So why for some reason if you open up a bank account at a bank, most of the spam fraudulent emails come from that bank only and not other banks.

After speaking with a few colleagues and over 100 people, we were shocked to find out a very similar situation. Have a look at this:

“I have never had an email address before. I got one so that I could use it to receive my statement via email”. The only people who knew my email address was my bank”.

In addition part of the email has read the following:

“You recently opened a bank account with our bank”

Come on this can’t always be a coincidence. Something is not right. It can either be the banker who assisted in opening the account or the bank giving out the email address to 3rd parties. It can also be somebody with access to records.

How many times have you received email specials from different companies even after you specified not to be informed of any specials. This is not right. And have you ever tried reporting this? You wait on the phone for over 3 hours and then sent to 5 different people to speak to. You are not likely to ever find out what is happening.

The bottom line – Be careful when clicking on a statement – Some attachments are actually viruses and never login after clicking on an email link. Or even better, make use of your online banking but make sure you use a good anti-virus and firewall on your system.

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New SIM Swap Bank Fraud – Beware it can happen to you in your sleep

In the past few months, more and more people are becoming victims to what is known as SIM Card / OTP PIN bank fraud. Please have a look at the list below of some people who have been frauded out of a great sum of money:

Note which bank they all belong to

Rob Ermes…………………………..R180,000…………………Cell C………….ABSA
Mary-Anne Hattingh…………………R90,000…………………Cell C………….ABSA
Former ABSA employee……………R346,900……………….Cell C………….ABSA
Esmaré Weideman………………….R360,000……………….MTN……………ABSA
Murray Baxter……………………….R117,000…………………MTN…………..ABSA
Gail Peddie……………………………R67,500…………………MTN…………..ABSA
Susan de Klerk……………………..R159,000………………..MTN……………ABSA
Eugene Malan………………………..R97,000………………..MTN……………ABSA
Marco X……………………………….R50,000…………………MTN……………ABSA
Andro Nel……………………………..R19,150…………………MTN…………..ABSA
K Pillay………………………………..R44,000……………….Not reported…..ABSA
Eben van Heerden…………………R110,000……………….Not reported…..ABSA
Beaulinda Meyering…………………R15,000……………….Vodacom……..ABSA
Gerhard van Vuuren………………..R26,655……………….Vodacom………ABSA

Please feel free to add to this list if you have been a victim. Simply add your name, or initials, amount of money as well as the network operating and the bank name.

How it all works

1. Somebody finds out your banking log-in details either by:
a) Sending you a phishing email (not likely since we know by now and most of us are very careful). We also
have anti-phishing software running on our PCs most of the time.
b) Using stupid passwords (some of us still do this but not likely)
c) This leaves us with the sad part of somebody working inside the bank illegally getting your log in
credentials. Inside jobs are quite common in South Africa. It all boils down to security measures that
the banks take to protect your log-in details. It seems that most of these illegal transfers out of your bank
account happen to ABSA account users.

2. Your OTP (One time pin) is sent to your cellphone number so that you can enter it into your bank
account before the transaction takes effect. Now what these fraudsters do is go to a MTN store and simply
do a SIM swap and on the new SIM card, your number get’s copied. In other words, if they put their phone
on, and log into your bank account, they can do whatever they have full carte blanche with your bank
account and all your hard earned money.

Why out of all the OTP verification banks are some banks more common to this fraud than others? This is what some of our viewers think the problem might be. Remember you have the freedom of speech.

1. The bank does not have proper security measures to keep the users passwords safe and properly encrypted
2. There might perhaps be a backdoor somewhere in the banking system that people have figured out
3. Inside job / the bank attendant is watching as the person enters in their pin

It surely can’t only be blamed on phishing scams as otherwise all banks would have these problems !

How can I protect myself

1. Keep your savings in a closed account that no call-out can be done unless you sign papers inside the bank and takes a little while to get going.

2. Regularly check your bank account and keep up to date with what is going on.

3. Add SMS Alerts to all your transactions – Reporting this straight away can be sorted out in many cases

Disclaimer and Copyright:

The name ABSA, MTN, Vodacom and Cell C are all trademarks and belong to their respective owners. This is a free crime website with many contributors and the owners take no responsibility for what is said on this website.

 

 

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Deposit Refund Scam – Watch out!

This deposit refund scam is when criminals contact you telling you that an amount of money was deposited into your bank account by accident. Standard Bank warns against this new scam.

The idiot deposits a fraudulent / stolen cheque into your account and then calls you and claims that

  • funds were mistakenly deposited into your account or
  • the incorrect amount was paid into your account and you have been overpaid in respect of an order which you had in fact received.

The caller will ask you to refund the amount and will in turn fax a proof of payment to you. The ‘proof’ is either a copy of a deposit slip or an altered Internet banking payment confirmation. This is obviously very easy to do with today’s technologies.

If you look at your bank statement, it will show the transaction as a ‘Cheque Deposit’ and not an ‘Internet Banking Payment’. So after you have refunded the money electronically, you will never see it again following the reversal of the fraudulent deposit by the bank. Be very careful.

How you can avoid this:

  • Always make sure that deposited cheques are legitimate.
  • Request a special clearance on cheque deposits or wait until they have cleared completely.
  • Do not consent to the request.
  • Verify with your bank whether the transaction is valid.
  • Question whether the deposited cheque has been stolen.
  • Do not refund any monies until the cheque is fully paid/cleared.
  • Check that the proof of payment and your statement details add up and reflect the same reference details.
  • Never accept a notification of this nature as proof of deposit; rather obtain written verification from your bank before taking any action.

These scammers even have bank accounts with fake names. It just shows how corrupt some people in the actual banks can be to issue them with debit cards illegally and that is just one example. There was even a story where somebody opened an account with a copy of their id book and the other one had a fake id book which was all of a sudden overlooked by the bank staff member. After speaking to a bank manager, there are a few good ways to make sure the fake ID books will not work and to actually verify the person indeed is the one in the ID book.

Anyways be careful people and don’t forget to like our Face Book page on the right hand side of this website. The more people who know about us, the more this news can be spread.

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