FRAUD TACTICS TO WATCH THIS FESTIVE SEASON
As the festive season draws near, Standard Bank urges consumers to be extra vigilant as fraudsters are
intensifying their tactics. The Bank’s Fraud Risk Management team has observed several methods used
to deceive ATM users, particularly vulnerable individuals like the elderly or those unfamiliar with other
languages.
One common scam involves altering ATM language settings to confuse users, while another sees
fraudsters activating the “cardless function” to disorient customers. A frequent tactic, especially during
busy periods like Easter, Black Friday, and the festive season, is jamming card slots or PIN pads to
steal cards or money. “These methods are designed to create confusion and make it easier for
fraudsters to steal people’s cards or money,” explains Athaly Khan, Head of Fraud Risk Management at
Standard Bank.
Khan also warns about “shoulder surfing,” where someone watches you enter your PIN to steal it. “It’s
not just at ATMs – beware anywhere you use your bank card or enter sensitive information.”
She also advises customers to always check for signs of tampering on ATMs or point-of-sale devices,
as card skimming incidents have been reported.
Vishing on the Rise – Targeting Vulnerable Consumers
Khan warns that during the festive season, fraud rises across the board, including ATM fraud, credit
card scams, and especially vishing. Vishing involves fraudsters using phone calls or voice messages to
trick people into sharing personal information, like bank details or passwords.
This scam often targets vulnerable individuals, with fraudsters posing as bank officials, tax agents, or
investment firms. They trick victims into taking actions that jeopardize the security of their bank
accounts, sometimes claiming that the account is at risk and urging them to transfer their money to a
different account for “safekeeping”.
“A growing concern is victims approving one-time passwords (OTPs), which gives fraudsters access to
their accounts. We advise customers to never share their credentials or transfer money at anyone’s
request, even if they claim to be from their bank,” adds Khan.