Be Aware of Banking Scams

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There are many ways in which criminals steal money from bank accounts. Learn how smishing, vishing and phishing works and you could win with BONA

What is smishing

  • When criminals use SMSs that look as if they were sent from your bank.
  • In the SMS you are asked to call a toll-free number or message them your personal details, like an ID number, or banking details, like your account number, PIN or online banking password.

What is vishing

  • Criminals can phone you and claim that they are phoning from your bank. They then ask for your details, hoping you’ll give it to them.
  • They may ask you for personal information like your ID number or ask for banking details. These banking details include your account number, PIN and online banking password.

SEE ALSO: 5 ways to achieve a comfortable retirement

What is phishing

  • This is when criminals target you through an email that looks as if it is from your bank.
  • In the email, you are asked to click on a link to verify your personal and banking information. This information includes your ID number, bank account number, PIN, and banking passwords.

Safety tips

  • Keep all your personal details (like your ID number) and bank details (like your PIN, password, and account number) safe and don’t share them.
  • Never phone the toll-free numbers on SMSs asking for your details and also never answer the SMS.
  • Don’t use public computers for internet banking and always log out when finished.
  • Create strong passwords.
  • Don’t click on any link that asks you to verify your information.

To learn more about banking scams and keeping safe, visit WalletWise.