We are victims of being preyed upon by criminals who want our money. They are creating ways and means to get information about us to enable them to access our bank accounts and credit cards.

Scamming is rife and becoming more and more sophisticated as the various security measures are improved to avoid them.

In most scams, there is a hook. Something that will get your attention and lure you into responding:

Updating information on you banking details
You’ve won money in a lotto
You’ve inherited from a distant relative
You are owed money from SARS

The vital information that the scam aims to get from you:

Banking details
Financial information
Passwords
CSV number at the back of your credit card
Cell phone number

With this information, the game is on to access your money quickly before you realise it.

Banks and financial institutions spend a lot of time and money tackling the problem. It is a moving problem as criminals learn to navigate through security systems as they are upgraded.

We need to be much more aware and diligent in the cyber world, recognising that scamming exists.

What can we do?

It stands to reason that we should never part with the information above. We should cross-check with the institution if we suspect we are being scammed. Phoning the security/fraud line before responding is that extra step which will avert being scammed.

Link your banking transactions to your cellphone. Every time a transaction is made against your credit card you get a message on your phone which you can take action on.

Some other ideas…

Blank out your CSV number on the back of your credit card and memorise it. This number is used for online purchases and is often obtained by criminals at the ‘point of sale credit card machines.

Be suspicious of any email with urgent requests for personal financial information

Avoid filling out forms in email messages that ask for personal financial information

Look more closely at the Logo and design of the letter or website. Often there are grammatical errors which are not consistent with professional companies.

There is a lot more that can be done on our part. Be aware that the criminal is on the prowl.

If in doubt opt-out…..