Bank warns of vishing

10 October 2019 | Banking

Standard Bank has warned clients of a ‘vishing’ scam that seems to be on the increase in recent weeks.
Vishing refers to using a telephone in an attempt to scam victims into surrendering private information that can be used to access their account to defraud them.
Increasing cases of vishing have been reported where fraudsters pretend to be Standard Bank officials and call customers to manipulate them into sharing their personal information such as One Time Password (OTP), ATM PIN, credit card number etc.
One of the tricks that scammers use is to ask customers to upgrade, verify or confirm their personal account information, failing which they will have their accounts suspended.
The fear of having their accounts suspended prompts customers to divulge confidential information over the phone, leading to fraudsters using this information for account takeover fraud schemes.
However, Standard Bank – or any other bank – will never ask for client’s internet banking login credentials One Time Password (OTP) or ATM PIN.
The bank urges clients to be extra cautious when receiving such calls and encourages them to immediately report these calls and suspected fraudulent activities by contacting the Standard Bank Customer Contact Centre on 081 9286. It is important for clients to identify whether it is actually the bank they are speaking to.

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