Protect your cash this festive season
The South African Banking Risk Information Centre (SABRIC) said criminals continue to utilise this time of relaxation to ‘exploit human psychology by using malicious social engineering tactics to steal personal or confidential information to defraud people’
HOLIDAYMAKERS and consumers have been warned to be vigilant and protect their hard-earned cash this festive season.
The South African Banking Risk Information Centre (SABRIC) said criminals continue to utilise this time of relaxation to ‘exploit human psychology by using malicious social engineering tactics to steal personal or confidential
information to defraud people’.
The scams found to be prevalent during the festive season include holidaymakers being tricked into paying for
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 are then unable to make further arrangements with the agent, who has simply disappeared.
‘An offer that seems too good to be true should make you suspicious,’ said Susan Potgieter, SABRIC’s Acting CEO.
The organisation also cautioned bank clients to be vigilant when withdrawing cash at ATMs.
‘Criminals continue to attempt to steal bank cards and PINs by interfering with people while they are carrying out a transaction, and SABRIC urges bank clients not to accept assistance from anyone, even if they look well-dressed or
appear legitimate.
‘Interference also goes beyond accepting assistance, as it has been noted that scammers use deceitful tactics such as telling people that the ATM machine needs to be programmed or serviced immediately after they have inserted their ATM card.
Clients must be aware of these tricks and call security if needs be,’ Potgieter said.
SABRIC also encouraged the public not to carry large amounts of cash, but rather find safer ways to transact, such as cellphone banking or internet transfers.
‘Criminals know that people receive their bonuses and that stokvels pay out at this time,’ said Potgieter
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