According to information released by FNB earlier today, the latest modus operandi is that criminals contact consumers to deceive them into willingly compromising their card details and One Time Pin (OTP).

In such cases, criminals will call pretending to be from your bank of choice, informing you that there’s been fraud detected on your account while offering help to reverse the transactions. They then ask you to read out the One Time PIN that you have just received, which simply enables them to fraudulently purchase goods using your card details online. Most people unknowingly read out their One Time PIN and as a result, fall victim to fraud. A One Time PIN is a dynamic number generated by your bank to you to authenticate transactions when shopping online.

In addition, FNB shared important tips that you can use to protect yourself against fraud crimes during this time:

• Be alert and aware of individuals contacting you pretending to be from the Bank;
• Fraud Departments or any official from a bank will never ask you to disclose your PIN or One Time PIN;
• Protect your card details and ensure that you shop via secure platforms or websites;
• Register for the bank’s inContact, a free instant SMS service that notifies you when your card is swiped or when cash is withdrawn from your account.
• Do not disclose your One Time PIN to anyone, including family, friends and ‘bank officials’;
• Protect your One Time PIN the same way to protect your card PIN;
• Never send emails quoting your card number, expiry date and CVV number

Secrets tells the stories of three South Africans. The stories chronicle the devastating impact on them and those around them caused by their secret, unquestioned money habits. It stars Brett Williams, Hlubi Mboya and Lindiwe Dim, Faniswa Yisa, Tevin Musara and Rolanda Marias.

This initiative was inspired by alarming statistics, where one in three South Africans have lost money investing in pyramid schemes; three out of five South Africans spend more than they earn, and 82% of small businesses fail because of bad cash-flow management.

“We’re excited about this being a first for the financial services industry, and with the topic being that of money, which is viewed as taboo, we wanted to keep Nedbank’s involvement secret until the launch to provide maximum impact—and to connect with the movie’s theme,” says Khensani Nobanda, Group Executive Marketing & Corporate Affairs at Nedbank. “Money is something nobody likes talking about, and this movie shows graphically how toxic these secrets can be.

Indeed, stories are powerful ways of communicating important issues in all cultures, so go ahead fix your popcorn and watch Nedbank’s exciting new film below.

https://youtu.be/vcwMr45eWLI

The app which which was first released on Apple’s App store on 12 June 2014, is said to be available across all mobile OS’s. (Given that you have a web enabled cell phone.) Once the app has been downloaded onto the phone, an essential stage of the activation process is the in-branch client authentication which is done using Capitec’s fingerprint technology.  The app download can only be completed once the user’s fingerprints have been linked to their specific cell phone. The consultant then puts a process into place where the app gets delivered to the client while in branch and the client is able to activate the app with their fingerprints. Access to the app and authorisation of transactions will be enabled by a remote PIN which is created by the user.

In cases where a device is lost, stolen or broken, customers will be required to repeat the authentication process.