Absa South Africa is taking immediate precautionary action to warn customers about fraudulent phishing activity affecting internet and banking clients. In an effort to warn customers about these unlawful activities, Absa has sent communiqués and newsletters to all their internet banking customers, and constantly posting updated messages on their websites. For example, on the Absa Internet Banking logon page, there is a section titled “Important Notices” which contains relevant and current information on phishing. By clicking on it, customers can also view actual examples of phishing e-mails sent to Absa customers. Absa Group Limited is one of South Africa’s largest financial services organisations, serving personal, commercial and corporate customers in South Africa. The Group also provides products and services to selected markets in the United Kingdom, Germany, Singapore and Angola, Mozambique, Namibia, Tanzania and Zimbabwe in Africa.
According to Christo Vrey, Absa Group General Manager: Digital Channels: “Over the past few months, Absa’s customers have been the recipients of fraudulent e-mails requesting them to ‘verify’ their logon credentials including their password, and other personal information such as their e-mail address, cellphone number, and even their ATM PIN. The problem is that, at first glance, these e-mails appear to be authentic notifications sent by the bank, but they are not sent by Absa.
“The other problem which cellphone users are experiencing is what is known as a Sim swap. The Sim swap takes place after the fraudsters have received the customer’s logon details as a result of customers acting on Phishing emails.
“This occurs when the cellular provider transfers a client’s Sim card identity to that of a fraudsters Sim card, cancelling the previous Sim card in the process. The result is no signal on the old Sim card which means, the client cannot receive or make phonecalls or send SMS messages.”
The one time password which is sent to the customer then reaches the fraudster instead of the legitimate owner, and the fraudster is able to create and pay beneficiaries fraudulently.
Vrey adds that, Absa views these fraudulent activities in a very serious light and reiterates that under no circumstances would Absa, or any of the other major banks, ever request personal information such as account or logon details, via an e-mail.
“We continually communicate with our clients via the Absa website and other avenues, never to act on an e-mail requesting any sort of personal or financial information. Any sort of e-mail asking for personal, company or financial information is a phishing attempt.
“I can guarantee that no financial institution will ever ask for personal and bank account details or logon credentials through an e-mail message, specifically an unsolicited e-mail. “Fraudsters are using more sophisticated methods in these online phishing scams and are even targeting local companies directly, using the names, look and feel of the major South African companies.”
In an attempt to stay one step ahead of this criminal activity, Absa has complex systems in place to ensure the highest level of security using a world-class network, data and physical security systems to protect both its Internet and Cellphone Banking clients.
Absa’s digital channels are vigilantly monitored and stringent security measures are in place to mitigate any risk of potential online fraud, and to ensure a safe, secure and convenient online banking environment for its clients.
Absa recommends the following action:
- If a customer suspects that he is the recipient of a phishing e-mail, he should not click on any of the links in the e-mail or complete any of the information. The e-mail should be deleted immediately.
- A customer who falls prey to an unlawful SIM swap should contact his cellular service provider to find out why the phone has no signal. He should also immediately phone the Absa Internet Banking contact centre on 08600 08600 if the SIM swap has taken place to request that his Internet Banking service be suspended with immediate effect, to prevent fraudsters from gaining access to his service.
“At Absa, we continually remind our customers to be cautious and to keep their PIN numbers and passwords as safely as they would their own private home access,” concludes Vrey.
The Absa Group interacts with its customers through a combination of physical and electronic channels, offering a comprehensive range of banking services, (from basic products and services for the low-income personal market to customised solutions for the commercial and corporate markets), bancassurance and wealth management products and services. Absa has a responsibility to ensure the security of all their clients’ information when they are making any financial transaction via the internet. The clients also have a responsibility to take extreme precautions to safeguard their personal information, bank details and their money.
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