FNB warns against new online banking scam

 ·12 Dec 2017

FNB has warned customers against a new banking scam whereby fraudsters remotely take control of your PC over the internet, and gains access to your online banking profile.

“Fraudsters are sending unsuspecting consumers fake emails notifying them that fraud has occurred on their respective bank accounts’ or credit cards,” the bank said.

“Soon afterwards, the customer receives a call from a fraudster claiming to be from their bank and offers to help block any fraudulent transactions by first requesting the customer to install ‘protection’ software on their computer, which allows the fraudster to gain full control of the computer remotely.”

Kovelin Naidoo, cyber security officer at FNB, said that the fraudsters are employing carefully constructed scamming tactics that have the ability to trick even the most vigilant customer if they are not aware of the modus operandi.

Customers should therefore be extremely careful and not let their guard down, especially now are we approaching the festive season, he said.

How it works 

Naidoo fully unpacked how the fraudsters use this software to defraud customers:

• The fraudster calls the customer and offers to help them block any fraudulent transaction by asking him/her to download and install “protective” PC software.
• The customer downloads the software, and with the help of the fraudster, installs it.
• Once the software is installed, the fraudster asks the customer to log into his/her personal Online Banking profile.
• After logging in, the customer’s computer goes blank. Shortly afterwards, he/she starts receiving OTP SMS’ to confirm transactions he/she did not perform.
• The fraudster then reassures the customer that these are fraudulent transactions and requests that he/she forwards the OTPs so that they can be blocked or reversed immediately.
• The fraudster then uses the OTPs forwarded to him/her to process the pending transactions and defrauds the customer.

“If someone calls you and requests your personal banking details or to install remote access software on your computer, please end the phone call and contact your banks’ fraud contact centre. FNB will never ask you to share your OTP to reverse pending transactions or to block your banking profile,” said Naidoo.

Furthermore, never click links in emails, disclose sensitive information, such as your username, password, card and PIN details to anyone, not even a bank official. If you are a FNB customer, use Smart inContact on the FNB App as it prevents OTP fraud by delivering an Online Banking transaction confirmation to your verified banking app, the bank said.

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