Home Business Standard Bank warns of new scams targeting customers in South Africa

Standard Bank warns of new scams targeting customers in South Africa

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Online banking scams have increased during the Covid-19 pandemic. New types of scams continue to emerge in which fraudsters lure you into providing confidential info – often via email, SMS, phone call, malware or remote access. Anyone can be a target, banks warn.

Financial institutions continue to update their systems to stay ahead of criminal activity; however, it is ultimately up to consumers to be proactive around potential online criminal activity. These types of activity will often see criminals using psychological tricks to scam consumers.

An example would be a trick where criminals get people to pay for holiday accommodation that doesn’t exist. This scam sees criminals preying on people’s anxiety about booking a last-minute holiday.

Victims are lured with what seems to be a really good deal, pay for the holiday in full, and cannot make further arrangements with the agent who has disappeared.

“An offer that seems too good to be true…

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