Discovery Bank has highlighted a popular “too good to be true” scam to its customers, joining a long list of financial service providers. <\/p>\n\n\n\n
In a message to customers, Discovery Bank said that shopping for cheap online specials can be costly. <\/p>\n\n\n\n
Discovery said that customers should beware of very low-priced offers. <\/p>\n\n\n\n
“If it seems too good to be true, it probably is. Protect your money this holiday season.” <\/p>\n\n\n\n
Discovery Bank offered the following safety tips:<\/p>\n\n\n\n
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Not the first <\/strong><\/p>\n\n\n\n Discovery Bank is not the first bank to highlight the rise of scams during the festive period. <\/p>\n\n\n\n For instance, Standard Bank\u2019s Fraud Risk Management team has observed several ways criminals try to deceive ATM users, especially vulnerable individuals like the elderly or those unfamiliar with other languages.<\/p>\n\n\n\n A common scam sees ATM language settings altered to confuse users, while another sees criminals activating the \u201ccardless function\u201d to disorient customers.<\/p>\n\n\n\n A frequent tactic during busy periods like the festive season is jamming card slots or PIN pads to steal cards or money.<\/p>\n\n\n\n \u201cThese methods are designed to create confusion and make it easier for fraudsters to steal people\u2019s cards or money,\u201d said Athaly Khan, Head of Fraud Risk Management at Standard Bank.<\/p>\n\n\n\n “Shoulder surfing,” where a criminal watches someone enter their PIN to steal it, is another common tactic. <\/p>\n\n\n\n \u201cIt\u2019s not just at ATMs \u2013 beware anywhere you use your\u00a0bank\u00a0card or enter sensitive information.\u201d<\/p>\n\n\n\n Khan said customers to always be aware of signs of tampering on ATMs or point-of-sale devices, as card skimming incidents have been reported.<\/p>\n\n\n\n Khan also highlighted the risk of vishing, which sees fraudsters use phone calls or voice messages to trick people into sharing personal information, including\u00a0bank\u00a0details or passwords.<\/p>\n\n\n\n This scam often targets vulnerable individuals, with scammers posing as bank officials, tax agents or investment firms.<\/p>\n\n\n\n Scammers trick victims into jeopardizing the safety of their\u00a0bank\u00a0accounts, often claiming that the account is at risk and urging them to transfer their money to a different account for \u201csafekeeping\u201d.<\/p>\n\n\n\n \u201cA growing concern is victims approving one-time passwords (OTPs), which gives fraudsters access to their accounts. We advise customers to never share their credentials or transfer money at anyone\u2019s request, even if they claim to be from their bank,\u201d said Khan.<\/p>\n\n\n\n
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