Fraud and scam tips

Phishing is when an attacker sends you a fraudulent email, pretending to be a trusted source like an established company or a bank. They aim to trick you into sharing sensitive information like your ID number, banking details, online banking login credentials, PIN, password, OTP, or cellphone number.

Look out for these suspicious-looking emails and don't click on links that ask you to provide login information.

Fraudsters try and make you:

Click on malicious links or open malware-containing attachments
Disclose sensitive information such as account passwords

Warning signs:

Absa will NEVER send emails with links or attachments redirecting you to a login page that requests you to share your username and password, or passcode
Make sure your emails are coming from a verified email address and not from a spoofed email address
Check for grammar and spelling errors
Always validate URLs for legitimacy
Don't download remote access software or grant strangers access to your devices
Be cautious of emails promising unreal rewards, competitions that you never entered, or urgent threats
No reputable institution, especially a bank, will reach out to you for sensitive information

Vishing is when a fraudster calls you directly and pretends to be a bank representative. They aim to trick you into sharing sensitive information like your ID number, banking details, online banking login credentials, PIN, password, OTP, or cellphone number.

They will encourage you to act urgently and pretend like your account is at risk of being hacked or exposed if you don't.

Protect yourself:

Never share PINs, passwords, passcodes, or card CVV numbers with someone on the phone
Beware of fraudsters diverting numbers, especially if they ask you to call back
If calls or OTPs cease unexpectedly, contact your service provider to check for SIM swapping
Do not provide a received OTP to anyone; report such incidents to the bank
Avoid downloading software from suspicious sources

Fraud scenario:

Caller requests personal information that Absa would never ask for
Caller presents unlikely issues, like a blocked or hacked account
Caller prompts a call back with false validation, accompanied by an OTP not initiated by you

SMiShing is when a fraudster sends you urgent, deceptive text messages, threatening that your account will get blocked if you do not react. They aim to trick you into sharing sensitive information like your ID number, banking details, online banking login credentials, PIN, password, OTP, or cellphone number.

Absa will never send you an SMS with a link on it. Report any suspicious SMS activity and delete the SMS.

How to identify SMiShing:

Shortened URLs, especially using bit.ly
Requests for personal information a bank would never ask for
Differences in style and sign-off compared to legitimate messages from Absa

A fraudster can perform an illegitimate SIM swop with your cellphone service provider. If a fraudster has a false copy of your identity number or has all of your personal details available they can manipulate your cellphone number to receive SMSes that should be going to you, for example, an OTP.

This means that they are one step closer to logging into your account. This is why you must never share personal information like your ID number, banking details, online banking login credentials, PIN, password, OTP, or cellphone number with strangers or suspicious digital sources.

Protect yourself:

Activate app authentication on your mobile banking app to stop fraudsters from using SIM swopping to access your account
Protect your personal, bank account and cellphone account information when you are talking to strangers or busy online
Immediately investigate when you notice that you are not receiving calls and messages
Keep your phone switched on – otherwise, you will not notice when your SIM card has been swopped

Tips to prevent cheque fraud:

Wait for clearance
If you are accepting a cheque as payment, wait for it to clear before handing over goods or issuing a refund
Beware of overpayment
Be cautious if you receive a cheque exceeding the owed amount (scammers might ask you to deposit it and return the excess, indicating potential fraud)
Report lost cheques
Immediately report lost, stolen, or missing cheques
Do proper cheque filling
When filling out a cheque, avoid leaving space before the payee's name or amount (cross out unused spaces)
Keep your chequebook secured
Keep your chequebook in a safe place at all times and don't let strangers have access to it
Avoid blank cheques
Never sign a blank cheque that does not have an amount and all other information filled in
Reconcile regularly
Make sure you are checking your bank and cheque statements regularly
Use 'Not Transferable'
Mark cheques with "Not transferable" between two transverse lines for intended beneficiary assurance
Use secure mailing
When posting a cheque, use a non-transparent or dark envelope without staples/paper clips and make sure your mailing service provider is reliable
Reject faxed deposit slips
Never accept faxed bank deposit slips as proof of payment
Look for handwriting
Make sure that there is consistent handwriting and pen use on cheques received
Look for alterations
Verify that your cheques received do not have any visible alterations

Prevent supplier fraud by always verifying changes received from suppliers, and always ensuring that supplier/beneficiary banking details are authentic; be cautious of diverted correspondence.

If you suspect fraud, report it to your relationship executive immediately, or contact Absa Customer Service at 0800222333. Reporting to the police is also highly recommended.

What to watch out for:

Counterfeit documents
Beware of scanned company letterheads with blurred logos on counterfeit invoices
Email discrepancies
Watch for confirming emails from nearly identical addresses, differing by a single easily overlooked letter
Bank changes
Always verify requests to change bank details with your regular contact
Invoice scrutiny
Train staff to check invoices for irregularities and report suspicions to a known contact
Designated contacts
Consider setting up single points of contact for regular payments to specific companies
Secure Disposal
Shred business and supplier documents containing letterheads
Private banking details
Avoid publishing bank account details online to prevent fraudulent use
Review change requests
Scrutinize past requests to change account details to ensure authenticity
Client awareness
Warn clients about potential fraudulent instructions, safeguarding them from acting on false information

How to prevent tech support scams:

Update software
Keep software current with the latest security patches
Avoid unexpected calls
Never grant computer control to an unexpected third party
Doubt caller ID
Don't solely rely on caller ID for authentication, as numbers can be spoofed
No financial info
Never provide passwords, credit card details, or financial information to unsolicited tech support claims