Phishing attacks on the rise

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As phishing fraud is expected to escalate towards the end of the year - Absa has urged its customers to become increasingly vigilant so they do not become victims of attempted phishing attacks. 

“Bank customers should educate themselves about the modus operandi of fraudsters and adopt safe online banking practices in order to avoid falling prey to phishing scams,” says Gavin Opperman, CE of Absa Retail Bank.

“Phishing is done via SMS, email or telephone and aims to get hold of your personal and banking details in order to fraudulently withdraw money from your account. Never divulge your banking details to anyone via any of these channels. Also, the golden rule to be remembered is that Absa will never send you an email requesting that you click on a link or attachment to upgrade your service or to confirm your logon details,” emphasises Opperman.

“Absa continually upgrades its security measures and monitors the latest online fraud tactics. This year, we have seen fraudsters becoming more sophisticated in their attempts,” adds Opperman.

He cautions against a relatively new scam known as ‘SIM swapping’ whereby fraudsters illegally replicate cellular SIM cards in order to obtain the passwords that customers utilise when conducting online banking.

“SIM swaps are normally done by using fraudulent ID books at cellular outlets. Though it is not always easy for the user to detect a SIM swap, a telltale sign could be the permanent loss of cellphone signal for no apparent reason, in which case it is important for one to contact their network operator and report the incident.”