Tips to protect yourself from scams this festive season

With the festive season nearing, the South African Banking Risk Information Centre (SABRIC) is advising the public to remain alert to the increase in banking scams, fraud, and related crimes.

Criminals exploit the holiday spirit and increased spending during this period to defraud unsuspecting individuals.

Common Threats to Be Aware Of

SABRIC CEO Kalyani Pillay highlights several scams bank customers should be cautious of:

1. Lost and Stolen Card Fraud: Criminals target ATMs to steal or swap cards. Shoulder surfing enables fraudsters to access PINs and use stolen cards immediately. Customers are advised to:
   • Decline assistance from strangers at ATMs.
   • Set daily withdrawal limits to minimize risks.
   • Avoid poorly lit or isolated ATMs.
2. Online Banking and Identity Theft: The convenience of digital platforms has created opportunities for criminals. They steal personal information like ID numbers, addresses, and passwords to impersonate victims. Tips to protect yourself include:
   • Verify requests for personal information before sharing.
   • Avoid using personal data like birthdates for passwords or PINs.
   • Regularly update antivirus software and secure devices.
3. Phishing and Vishing Scams: Fraudsters use fake emails, websites, or phone calls to trick victims into revealing sensitive details. Best practices include:
   • Avoid clicking on unsolicited links.
   • Never share confidential information over the phone or via email.
   • Contact your bank immediately if you suspect a scam.
4. Internet and Mobile Banking Risks: Public Wi-Fi and compromised devices increase vulnerability. To stay safe:
   • Avoid using public or shared devices for banking.
   • Use Virtual Private Networks (VPNs) and secure websites with HTTPS encryption.
   • Regularly change passwords and ensure they are complex.

Practical Tips for Secure Banking

To minimize risks, SABRIC recommends the following:

• ATM Use: Memorize your PIN, shield the keypad, and immediately report suspicious activity or retained cards to your bank.
• Card Transactions: Always keep your card in sight during transactions, review account statements regularly, and report any discrepancies.
• Online Transactions: Only shop on secure, reputable websites and avoid sharing card details via email.

How to Avoid Being Scammed

Scammers know South Africans are hunting for deals during the festive season, making it easy to target shoppers who let their guard down. Here are the top five scams to watch out for:

1. Fake Delivery Notifications
Scammers send fake delivery notifications hoping to catch you off guard. If you’re expecting a package, always verify the tracking details yourself and avoid clicking on links in unsolicited emails or texts.

2. Fake Shopping Sites and Sellers
Scammers often set up fake online stores, offering hard-to-find items at irresistible prices. South Africans shopping for high-demand items should always research new sites and sellers before making a purchase to avoid disappointment and identity theft.

3. Fake Gift Cards and Vouchers
Scammers often use fake gift cards, vouchers, and coupons to lure victims. Never pay for anything solely with gift cards. If someone asks you to, it’s a scam.

4. Fake Charities
During the holiday season, scammers pose as charities to take advantage of your goodwill. In South Africa, this includes fake appeals for local causes. Always research charities before donating to ensure your money goes to a legitimate cause.

5. Fake Travel Offers
Scammers often create fake travel deals, especially around the holidays. Many South Africans book travel during this time, so double-check any offers that seem too good to be true.

6. Fake Property Sellers
The Seeff Property Group highlights growing property fraud, including fake emails, cloned listings, and fraudulent money requests.

Business Tech reports that buyers, sellers, and renters must verify details, avoid upfront payments, and ensure funds are handled through trusted channels like attorneys’ trust accounts. Confirm ownership before making payments, and be wary of deals that seem too good to be true.

How to Protect Yourself

To stay safe this festive season, South Africans can follow these simple tips:

• Be Suspicious: Always approach unexpected requests and too-good-to-be-true offers with caution.
• Do Your Research: Use local review sites like HelloPeter to check the legitimacy of unfamiliar sellers or websites.
• Choose Payment Methods Carefully: Use credit cards or trusted payment sites like PayFast or PayPal for added protection against fraud.

Stay Informed

By following these steps, South Africans can enjoy a safer and more joyful festive season, free from the risks of scams and fraudulent activities.