{"id":26142,"date":"2022-09-12T15:07:43","date_gmt":"2022-09-12T15:07:43","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique"},"modified":"2022-09-12T15:17:24","modified_gmt":"2022-09-12T15:17:24","slug":"most-frequent-banking-scams-in-mozambique","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique","title":{"rendered":"Most frequent banking scams in Mozambique"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>With a rapidly evolving fraud landscape where fraudsters are leveraging the latest technologies and constantly refining their modus operandi, businesses and individuals should always be on guard to avoid falling victim to the latest scams which could potentially see them losing millions while also suffering reputational damage.<\/p>\n

Louren\u00e7o Francisco, Fraud Prevention Unit Manager at FNB Mozambique points out that \u201cconsidering the technological advances and the sophisticated nature of the scams going on nowadays, it is essential to adopt fraud detection and prevention measures. As such, to protect themselves, companies and individuals need to keep constantly updated on the rapidly evolving trends and fraudulent schemes. It is crucial for businesses to invest time, effort and resources that can prepare their employees to detect fraud in a timely and efficient manner.<\/p>\n

Company or individual data update request (KYC)<\/b> \u2013 an SMS and\/or email are sent to Customers, notifying them that the Bank is checking and updating his information, they are then requested to open a link to update their bank details. The page recreates the bank\u2019s official website, but it is a scam, Customers are prompted to provide information about their accounts and cards, and this is where the fraudster gets hold of the data provided by Customers. You should not provide, under any circumstances, identification and accreditation information by these means, if you have doubts you must contact your Bank.<\/p>\n

Lost and stolen phone<\/b> \u2013 Customers will receive an SMS prompting them to click to activate their \u201cFind My Phone\u201d app, even though they have their phone with them. By clicking the link, this allows fraudsters to gain access to the phone \u2013 compromising personal and business data.<\/p>\n

Business Email Compromise<\/b> \u2013 fraudsters use malware, at times combined with social engineering tactics, to gain unauthorised access to a business email account and change invoice and supplier banking details. Businesses often fall victim to this scam as fraudsters are constantly refining the modus operandi. However, the objective is always to get businesses to pay money over into a fraudulent bank account. Vital that companies validate any request to change banking details with a known contact and use contact details you sourced themselves.<\/p>\n

Tender scams<\/b> \u2013 scammers often impersonate Government departments and fraudulently get access to company data, banking details, goods and services by misleading businesses into believing they have secured a tender\/contract. Be wary of unsolicited requests to tender. It is advisable to contact the department to validate the request. Furthermore, ensure you are aware of how Government procures goods and services. Visit the Government\u2019s tender website for information on the tendering process.<\/p>\n

Remote access<\/b> \u2013 this happens when fraudsters gain access to your device or profile by enabling remote access tools to be installed on your device. It is advisable not to use public WIFI to access your banking App. Also, always cancel or delete access tools installed on your device that you are unaware of.<\/p>\n

ATM card swapping<\/b> \u2013 this happens when you accept assistance from strangers at an ATM and then fall victim to the stranger swapping your card with another. If you put in your PIN in front of them, they will then have access to your bank account. Always remain vigilant.<\/p>\n

Card Switching at ATMs<\/b> \u2013 often fraudsters pretend to be kind and helpful individuals ready to assist ATM users experiencing difficulties with transactions, and easily manage to switch the user\u2019s card, access the card\u2019s PIN and perform fraudulent transactions on the conned user\u2019s account.<\/p>\n

Phishing, Vishing and Smishing<\/b> \u2013 these are common identity fraud scams often carried out by email, voice or text or a combination of all the communication channels. Fraudsters use various methods to get sensitive personal or company data to be used for criminal activities.<\/p>\n

\u201d It\u2019 s imperative that you contact your bank if you suspect that the phone number associated with your bank account has been changed or if you find yourself offline for a significant time period. Implementing adequate security measures and keeping on top of the latest scam trends is an important step to help safeguard businesses and individuals against recurrent fraud attempts\u201d, concluded Louren\u00e7o Francisco.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. With a rapidly evolving fraud landscape where fraudsters are leveraging the latest technologies and constantly refining their modus operandi, businesses and individuals should always be on guard to avoid falling victim to the latest scams which could potentially see them losing millions while also suffering reputational damage. Louren\u00e7o Francisco, Fraud Prevention Unit […]<\/p>\n","protected":false},"author":84,"featured_media":26141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[233,281,1191,283,1343],"class_list":["post-26142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-mozambique","tag-bank","tag-mozambique","tag-scam"],"yoast_head":"\nMost frequent banking scams in Mozambique - Mozambique<\/title>\n<meta name=\"description\" content=\"With a rapidly evolving fraud landscape where fraudsters are leveraging the latest technologies and constantly refining ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Most frequent banking scams in Mozambique\" \/>\n<meta property=\"og:description\" content=\"With a rapidly evolving fraud landscape where fraudsters are leveraging the latest technologies and constantly refining ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-12T15:07:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-12T15:17:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/09\/postQueueImg_1-631f4d40b4c64.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"959\" \/>\n\t<meta property=\"og:image:height\" content=\"647\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Most frequent banking scams in Mozambique\",\"datePublished\":\"2022-09-12T15:07:43+00:00\",\"dateModified\":\"2022-09-12T15:17:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique\"},\"wordCount\":704,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2022\/09\/postQueueImg_1-631f4d40b4c64.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Bank\",\"Mozambique\",\"scam\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/most-frequent-banking-scams-in-mozambique\",\"name\":\"Most frequent banking scams in Mozambique - 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