By Robert Laing for Business Day
The number of complaints from banking customers grew by an “unprecedented” 35% to 7 056 formal cases opened by the industry’s ombudsman in 2017, from the prior year.
Cases involving internet banking fraud overtook ATM complaints, banking ombudsman Reana Steyn said in the office’s annual report released on Wednesday.
Steyn said 22% of all banking disputes related to online banking, and “phishing” — a fraud scheme whereby consumers are duped into disclosing their login and password details via e-mails purporting to come from the bank — accounted for 77% of these.
“The category that previously topped the list, ATM complaints, were second highest at 18%, down 10% from the previous year, which is good news,” Steyn said.
The Ombudsman for Banking Services (OBS) is a voluntary dispute resolution service funded by the industry to offer consumers a way to escalate complaints without employing lawyers.
“It is unfortunate that consumers who are unsuccessful with their complaints levy the criticism of bias against the ombuds office. Our office works very hard to uphold high standards in adjudication and in applying the law to the fact of the case,” she said.
“The office found in favour of complainants in 27% of the cases, indicating that most matters capable of early resolution were resolved at the bank. While the number may appear low, it is in line with international experience at other ombuds offices.” People unhappy with their bank are encouraged to take their dispute to the OBS if their complaint has not been handled within 20 working days.
A new Apple phishing scam is doing the rounds.
The scam informs user that their “Apple ID’ has been locked and threatens them with the fact that their information is now insecure.
In order to fix the “issue”, users are requested to follow a link which looks on the surface like an Apple-related site. Browsers and anti-virus quickly block the site as suspicious.
Spam, scam e-mails and phishing: every day we receive hundreds of e-mails that may or not be linked to criminals trying to steal information from us.
My Office News took a look at an email we received and dissected it piece-by-piece to show you how to identify spam.
When the short link is clicked, it redirects to a site that downloads malware to your device.
Should you receive an email from someone claiming to be a service provider (such as a bank or ISP), rather call their main office to check the validity of the information.
FNB is warning customers about a new scam which involves them receiving an e-mail stating their online banking access will be disabled or deactivated.
“In an attempt to obtain your personal details, you will be requested to select a link in the email to confirm that you did not request your account to be deactivated,” said FNB.
Cyber-crooks are sending out spam emails that falsely warn recipients that their PayPal account activity has been temporarily limited, citing an account fraud issue.
A phishing email scam that warns PayPal users of possible fraudulent account activity in hopes of scaring personally identifiable information out of them is currently making the rounds.
According to a blog post from ESET, the phishing emails falsely inform recipients that PayPal has detected “unusual activity” on their accounts and has “temporary limited what you can do” until the possible security issue can be resolved. Clicking the log-in button on these emails redirects victims to what appears to be a legitimate log-in screen – it even displays an SSL certificate to sell its supposed authenticity – but is actually a fake PayPal web page hosted on a malicious domain.
After victims “log in,” the fake PayPal site displays another message informing victims that they will not be able to withdraw funds for 15 days, unless the issue is addressed further. Those who click a “Continue” button to proceed are then asked to enter even more detailed information, including their Social Security number, address, phone number, birthdate and mother’s maiden name.
As phishing scams go, this one is convincing, but there are still some clues that PayPal did not send this alert, ESET reported. For instance, the email contains minor grammatical and syntax errors, and the fake web page’s request to enter your home country is unusual, considering it also asks for your Social Security number, which only applies to the US.
By Bradley Barth for www.scmagazineuk.com