Fraud Tips

Debit and Credit Card Fraud


DO’s

• Keep your card in a secure place
• Memorise your PIN
• Sign card on the signature panel
• Treat your card as cash
• Ensure that you get your own card back after every purchase

DONT’s

• DO NOT share a PIN
• DO NOT keep your PIN in your wallet, Mobile phone or any place that another individual can access.
• DO NOT send your card details to strangers i.e. internet
• DO NOT send e-mails that quote your account number and expiry date
• DO NOT loss sight of your card at any given time.

Cheque fraud

Cheque fraud is one of the largest challenges facing businesses and financial institutions today. With the advancement of computer technology it has become increasingly easy for criminals, either independently or in organized gangs, to manipulate cheques in such a way as to deceive innocent victims expecting value in exchange for their money.

DO’s

• Complete the beneficiary/ payee details in full.
• Provide your account number when making deposits.
• Use the appropriate crossings i.e. ‘Payee Account Only/ Non Negotiable
• Familiarise yourself with the layout of the cheques issued by different banks, especially in business environment.
• Use alternative methods of payment such as electronic payments.
• Bank statements and chequebooks are required to be locked away at all times.
• Reconcile your paid cheques to your bank statement as soon as possible. On daily basis, check that there are no missing cheque leaves.

DON’TS

• Do shred any cancelled cheques and make note of it.
• Do not use abbreviations or acronyms as beneficiary details e.g. B. Mary.
• Do not print cheque with pale toner/ribbon/ink
• Do not leave gaps before words and figures
• ‘Word boxes’ make alteration easy
• Do not cross “cash” cheques.
• Do not mail cheques.
• Do not release goods without checking with your bank, even if a bank cheque is presented.
• Do not advertise your banking details or provide it to unknown individuals.
• Do not throw any cheque leaves or payment information in the dustbin.

When receiving a cheque, look out for:

• Check the payee details, the amount in words and figures and the date carefully for alterations
• Be on the look out for stamps that are placed over areas that could conceal alterations
• Cheques issued using a black Koki pen should raise suspicion
• Spelling mistakes on the printed areas of the cheques such as the name and account number details of the client and the bank branch name
• Tampering with the MICR Code line
• Black shaded areas may be an indication that the original details were obliterated and replaced
• Be suspicious if the cheque appears faded, as chemicals could have been used to remove information
• Shaky signatures could indicate that the signature was traced

Identify Theft and Identify Fraud

Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain. 

Common ways of committing identity theft or fraud

• shoulder surfing
• dumpster diving
• mail
• internet

How to Avoid Being A Victim Of Identity Theft?

S- Be STINGY about giving out your personal information to others unless you have a reason to trust them, regardless of where you are.
C- CHECK your financial information regularly
A- ASK periodically for a copy of your credit report.
M- MAINTAIN careful records of your banking and financial accounts.

Just remember the word:
"SCAM"