Do you remember the last time you were in a banking hall to initiate a bank transaction? Most of us have not been in one in a long while.
That situation can be attributed to the advancement in banking technologies that have allowed us to use mobile phones and other digital banking channels from the comfort of our homes, offices, schools, or wherever else we may be.
The truth, however, is that as customers have changed their transacting habits because of these technologies, criminals have also evolved.
Instead of waiting for customers outside banking halls to rob them of their hard-earned cash, they are lurking around the internet and digital channels today, waiting to pounce on unsuspecting customers.
The most common fraud schemes affecting customers include account takeovers, where a fraudster successfully gains access to a customer’s bank account and performs unauthorized transfers.
This could be through fraudulent access to personal information such as phone numbers, ID numbers, mobile devices, or passwords.
Access to this information can give fraudsters unauthorized access to customer accounts. We give you a scenario where an unsuspecting Equity Bank customer almost got defrauded by schemers who called him, claiming to be Equity staff.
John is a local smokie vendor in the busy streets of Nairobi and has adopted mobile money payment for his biashara.
Smokie customers can pay into his Equity account from any mobile network through the One Equity Till Number.
One busy Friday evening, while John was busy at work, his phone buzzed and rang deep in his pockets. He quickly picked up the call amidst serving his clients and had the following conversation with the caller on the other end of the line:
Fraudster : Hello, John, Habari ya leo.
John: Hello, mzuri sana, (recognizes it’s an unsaved contact) Ni nani?
Fraudster : My name is Kingston, nakupigia kutoka Equity kuhusu account yako.
John: (He is now attentive, as he banks with Equity) Enhe, niambie Kingston, kuna shida?
Fraudster: Ndio John, account yako iko karibu kuwa blocked. Imekuwa dormant for too long na lazima we activate it, otherwise itafungwa. All we need is your account number na PIN yako, alafu tutaweza kukusort.
John: Sasawa, wacha nikuangalilie account number kwa card, usikate simu…
Fraudster: Haina shida, niko hapa bado.
John: (turns to his friend Mark, a food vendor selling eggs.) Weeuh, Mark karibu nifungiwe account yangu, ebu nitolee kadi yangu ya Equity kwa hii mfuko niwapatie account number wasiblock account.
Mark: (Quickly interjects) Ngoja, ati upatiane account number yako, kwa kina nani hao?
John: Eeee account number na PIN yangu ndio wanahitaji…nimepigiwa na jamaa kutoka Equity.
Mark: Ebu nione hio number (John shows Mark the number displayed on his phone screen) Ebu KATA HIO SIMU haraka, kata hio simu saa hii, hao ni wakora!
John: (Quickly hangs up) Alaa, Mark unasema nini, umejuaje ni wakora?
Mark: Yaani John hujaskia vile watu siku hizi wanatapeliwa na kuibiwa pesa zao. Hiyo number haikuwa kutoka Equity. Equity wanapiga na namba moja peke yake, ambayo ni 0763 000 000. Any other number claiming kuwa Equity, ni wakora tu.
John: Hapo Mzito ….. aki ningeibiwa pesa tu hivo! Imagine sikuwa najua.
Mark: Aaaa mimi nime kaa chonjo! Na nimekataa utapeli kabisa!
If you bank with Equity, it’s essential to know the following:
- If the call is not from 0763 000 000, KATA HIYO SIMU!
- Equity will never call you to activate/unblock your account or register you for mobile or online banking.
- Equity staff will never call you to give you instructions on how to set up your account or Equitel line or register you on *247#,
John survives by the skin of his teeth. He would have quickly lost all the money in his account.
This could happen to any of us, which is why we have a duty to protect our valuable personal information and encourage those we interact with to do the same. Safety while transacting on digital platforms begins with us.
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