Standard Bank prioritises online safety to protect clients banking digitally
Standard Bank SA Executive Head: Digital and eCommerce for Personal and Private Banking Belinda Rathogwa speaks to local media about the importance of equipping the country with the knowledge and tools to beat financial scams
As more clients use Digital Banking services, banks have a role to play in encouraging mindful online behaviour, especially among older clients. "Fraudsters want nothing more than to get a share of our parents' hard-earned money," explains Belinda Rathogwa, Head of Digital and E-commerce at Standard Bank. “They take advantage of their trusting nature and the fact that they may not be as digitally savvy or aware. As a result, Standard Bank is committed to ensuring that clients understand how to stay safe when using digital platforms to do their banking.”
Banking safety: Dos and don’ts
Rathogwa advises clients to take note of a few online safety tips. “First and foremost, keep your banking information confidential; never share your card number, pin or One-Time Pin (OTP); and do not approve transactions on your account if you didn’t initiate them.”
“If you use the Banking App, we recommend that you register for DigiMe for added security. The registration process is quick and easy. All you need to do is take a selfie using the Banking App. If you use Internet Banking, we recommend that you scan the QR code or approve access to your Internet Banking profile from the Banking App. This makes signing in faster and helps to further secure your digital banking profile.”
“Make sure that your antivirus software is always updated as this protects your computer or smartphone against malicious software. If you lose your phone or laptop, or the device is stolen, report it to the bank immediately. That way, we can make sure the device can no longer access your banking profile. You can contact the fraud helpline on 0800 222 050.” Rathogwa e mphasises.
Fraudsters become more sophisticated
“Fraudsters have become very sophisticated. They misappropriate email or SMS messages that look familiar to entice clients to reveal sensitive information. Some clients have reported receiving an email or SMS that prompts them to click on a link to verify details. If you receive an email or SMS that includes a link, do not click on the link, especially if it requires you to input your banking details. Do not enter your banking information. Delete the message immediately.”
“In some cases, fraudsters create a sense of urgency and uncertainty, placing their victims under pressure to divulge sensitive information. Standard Bank will never call you and put you under pressure to share sensitive information. If you receive such a call, hang up immediately and call the fraud helpline to report suspicious activity,” Rathogwa says.
Promises of unrealistic investment returns
Fraudsters may call clients and promise quick, high returns on investments, without providing sufficient details for clients to verify the information. "If it sounds too good to be true, it probably is," Rathogwa explains.
What should I do if I fall victim to a scam?
If you suspect that you are a victim of fraud, contact our fraud helpline on 0800 222 050 to report it. Reporting your suspicion of fraud without delay enables the bank to secure your profile and prevent unauthorised access.
By applying these online safety tips, clients can continue to enjoy the ease and convenience of digital banking and do so safely.
Listen to the interview.