As families prepare for the Easter holidays, a troubling trend is emerging: bank card fraud syndicates are ramping up their operations, preying on unsuspecting consumers eager to find deals and discounts. With the rise of cyber-crime, it has never been more critical for shoppers to be aware of potential threats lurking online and in their wallets.
Athaly Khan, the head of Fraud Risk Management at Standard Bank, has sounded the alarm regarding these fraudsters and their increasingly sophisticated tactics to steal personal information. “One of the modus operandi we’ve identified over the past couple of years is how these criminals specifically target online shopping and fraud,” Khan explained. “Customers enticed by advertised specials often unknowingly click on malicious ads designed to capture their information.”
The scam unfolds as consumers search for the best deals, typing in keywords to find promotions. This data enables criminals to exploit algorithms, driving targeted ads directly to the customer’s device. Once a shopper clicks on such an ad, they risk exposing their personal and banking information to dangerous cybercriminals.
- ATM tampering: Criminals are continuing to tamper with ATMs, installing skimming devices that steal data from unsuspecting users.
- Card cloning: This not only involves physical cards but also targets digital banking methods used during online transactions.
Khan emphasised the importance of vigilance, especially during busy shopping periods like Easter. “You need to be very careful and ensure that any link you click or advertisement you follow is trustworthy. Fraudsters are clever; they design these ads to look legitimate,” he asserted.
As the excitement of shopping may overshadow concerns about security, consumers must remain vigilant and practice caution when making online transactions. Here are a few tips to help safeguard personal information:
- Look for HTTPS in URLs, which indicates a secure site.
- Be wary of clicking on ads that appear related to discounts or promotions.
- Regularly review bank statements and account activity for any fraudulent transactions.
- Consider using strong passwords and two-factor authentication for online banking.
With Easter just around the corner, the stakes are high, but so too is the opportunity for consumers to educate themselves about potential fraud.