Publish Date: 20/08/2018
There are three types of bank card fraud that you need to be aware of:
Read this blog post to familiarise yourself with these scams and know how to protect yourself.
Stolen card fraud
Criminals steal genuine bank cards together with the correct Pin numbers and then use these cards immediately at the nearest ATM to withdraw cash followed by purchases at stores until the account is either empty or the is card stopped.
Counterfeit card fraud
Criminals get hold of your card information using skimming devices that read and store card data on the magnetic strip. Hand held skimming devices are quite small and are not easily detectible. ATM skimming devices are fixed onto the machines and are even more difficult to see.
These counterfeit cards can only be used at an ATM if the correct pin is also used. Criminals view your pin by ‘shoulder surfing’- they simply stand next to you and watch as you fill out a form, enter a Pin number at an ATM machine, or use a calling card at a public pay phone.
This type of fraud can range from the actual physical theft of data off a genuine card to large scale data breaches usually carried out by syndicates.
Tips for card holders
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.