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Simply put, it refers to any type of fraudulent online transaction carried out by a fraudster. This is most common with card-not-present transactions, which carry higher risks because it is more difficult to verify the card holder’s identity. For this reason, you should take steps to implement online fraud prevention solutions;

  • Keep Financial Data Separate: Use a dedicated workstation for all company banking activity for business users in particular. Access the Internet and conduct non-banking business on other computers. When it comes time to retire the computer that was used to access company banking, make a backup of all sensitive data and erase the hard drive before recycling it
  • Protect Your Computer: With cyber-attacks on the rise, installing antivirus software on your computer or network is more important than ever. It is also critical to run and update this software on a regular basis to prevent viruses from infecting your computer. Furthermore, installing and activating the following software programs will assist you in combating malicious cyber activity:
    • Anti-spyware software: Blocks the installation of spyware on your computer, which can monitor or control your computer use and send you pop-ups or redirect you to malicious websites
    • Anti-spam software: Helps prevent spam and junk email from entering your inbox, which helps guard against phishing emails
    • Firewall: Helps prevent unauthorized access to your computer through viruses and malware
  • Know Who’s Asking: Banks, as a general rule, do not send emails or text messages requesting personal information such as account and/or PIN  numbers. Banks will not ask you to verify account information in this way. Never send personal information via email or text,  account numbers, or login and password information. If you must send sensitive information to the bank via email, use secure mail within the bank’s secure online banking platform.

    Emails that appear to be from suppliers are also on the rise. These emails, like fraudulent banking emails, may appear legitimate but will request sensitive financial information. If you receive an email requesting information about your Bank details Do not respond to this mail or seek clarity through our Contact center on 0417803000/0200803000

  • Keep Your Passwords Secret: Passwords should not be shared, and documents containing financial data should not be left in an unsecured area. Change your passwords on a regular basis for added security, and use a combination of letters, numbers, and special characters whenever possible. Change the default password and Service Set Identifier (SSID) for your wireless network (name used to identify your network). Avoid broadcasting your SSID and think about using encryption on your network
  • No Phishing Allowed: Be cautious of phishing emails. These emails are intended to entice you to click links within the email in order to verify or change your account in some way. The links in the email are frequently used by fraudsters to install malicious software (also known as Malware) onto the computer or device you use to access your email. This Malware has the ability to steal personal information.
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