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A number of people still choose not to bank online because of the possible risks. 

The South African Banking Risk Information Centre urges bank clients to be vigilant and take note of the following tips to protect themselves:

  • Do not click on links or icons in unsolicited emails. Never reply to these emails. Delete them immediately.
  • Always type in the URL or domain name for your bank in the address bar of your internet browser if you need to access your bank’s website.
  • Check it’s your bank’s genuine website before inputting any personal information.
  • Make sure you are not on a spoof site by clicking on the security icon on your browser toolbar to see that the URL begins with https rather than http.
  • Check for a closed green padlock next to the URL of the website. A green padlock shows that your connection with the website is secured and encrypted.
  • If you think you might have been compromised, contact your bank fast.
  • Create complicated passwords that are not easy to decipher and change often.
  • Banks will never ask you to confirm your confidential information by phone.
  • If you receive a phone call requesting confidential or personal information, do not respond and end the call.
  • If you receive an OTP on your phone without having transacted yourself, it was likely prompted by a fraudster using your personal information. Do not provide the OTP to anybody by phone. Contact your bank immediately.
  • If you lose mobile connectivity under circumstances where you are usually connected, check whether you may have been the victim of a SIM swop.
  • Ensure that you confirm any change of banking details with someone you know at the organisation. 
  • Do not believe the content of unsolicited emails blindly.
Personal Finance