There's a new scam in town, and this time it's coming to you via SMS. The South African Banking Risk Information Centre (SABRIC) has warned South Africans to be wary of bank-related SMSes, as it might be a ploy to trick you into divulging your banking details and personal information.
'As is the case with phishing e-mails,' says SABRIC CEO, Kalyani Pillay, 'Text messages are randomly sent to cell phone users, and the information provided by unsuspecting bank clients who respond to these text messages is used to defraud them.'
The SMSes will generally demand you to send or update your one-time banking passwords.
'It's all part of social engineering,' says Pillay. 'The SMSes that we are seeing all seem to seek to pressurise customers to act in haste by creating some or other emergency.'
Many people are falling prey to smishing, as it's easy to panic when you think your details have been changed without your knowledge. You may want to call the number to see what's going on, but don't.
'What the unsuspecting bank client is not aware of is that the person on the other end of the line is not a bank official, but a fraudster wanting to steal their personal information,' says Pillay. 'You should contact your bank immediately if you are uncertain about how to respond to any message you receive via any communication channels that claim to be from your bank.'
Whatever you do, don't hand your password, PIN number or bank card details over the phone, whether you're speaking to someone directly or via SMS.
'If there is a need to contact your bank when you receive a message, only do so using the telephone numbers given to you when you opened your bank account or go to your nearest branch,' adds Pillay.
Here are a few tips from SABRIC to make sure you avoid smishing scams:
• Never respond to SMSes that appear to be from your bank and request your personal details. No bank will ever ask you to confirm or update your account details via SMS.
• Never provide your online banking username or password, even if the SMS claims to be from your bank or the SAPS.
• Never write down your online banking details or save them on your computer.
• Only provide your credit card details to reputable companies.
• Place sensible transaction limits on your accounts.
• Change your banking PIN number regularly.
EXAMPLES OF SMISHING SCAM SMSES