CNP fraud<\/a>, the bank said delivery apps, e-hailing, video on demand, and online shopping are commonplace in the digital age.<\/p>\n\n\n\nConsumers often rely on online platforms with targeted online ads when shopping, but this convenience has also led to the rising threat of CNP fraud.<\/p>\n\n\n\n
\u201cAs digital transactions grow, banks are detecting more opportunistic attempts by cybercriminals to exploit online platforms,\u201d said Athaly Khan, Head of Fraud Risk Management at Standard Bank.<\/p>\n\n\n\n
CNP fraud happens when card details are stolen and used for online purchases and subscriptions\u2014no physical card is required for these transactions.<\/p>\n\n\n\n
Fraudsters will also exploit vulnerabilities in e-commerce systems to steal card numbers, expiry dates, and card verification values (CVVs).<\/p>\n\n\n\n
CNP fraud is common on platforms with malicious pop-up ads, and e-commerce sites are seen as prime targets because they store sensitive data for ease of use.<\/p>\n\n\n\n
Some victims will also enter their details on fake or cloned websites, which gives fraudsters easy access to their information.<\/p>\n\n\n\n
\u201cMany false ads, particularly promoting scams, Ponzi schemes, and fake investments, are funded using stolen card details,\u201d said Khan.<\/p>\n\n\n\n
Digital and social media platforms also allow users to pay for Ad campaigns virtually, which are particularly vulnerable when card details are stolen.<\/p>\n\n\n\n
Standard Bank also warned its customers about a fraudulent WhatsApp group, which falsely associates itself with Standard Bank, SBG Securities, and SBG Securities Online Share Trading. <\/p>\n\n\n\n
Standard Bank said that the information in the group is fraudulent, noting that customers must be vigilant to stay safe from phishing scams.<\/p>\n\n\n\n
<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Standard Bank has highlighted another scam making the rounds on social media in South Africa. <\/p>\n","protected":false},"author":95,"featured_media":659259,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[1334,499],"class_list":["post-822902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-fraud","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/822902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=822902"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/822902\/revisions"}],"predecessor-version":[{"id":822915,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/822902\/revisions\/822915"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/659259"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=822902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=822902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=822902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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