DIAL UP YOUR SECURITY

Bank on these tips to outsmart digital financial fraudsters

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WITH everything that we have to worry about, we now have more added to that list - rising banking and phone fraud.

Discovery Bank has issued a warning about the rise in fraud cases in South Africa.

It has alerted its banking clients to the increase in the number of scammers who pretend to be bank employees, so that they can steal sensitive information.

These skelms often call and say they are from a bank's fraud team. They then tell clients that there are suspicious transactions on their account, and then fool them into giving their banking/card details and personal information.

It's important to know that a legitimate bank will never ask for full or partial card details to confirm or reverse a transaction, or to process a refund.

The bank warned: "Scammers call pretending to be from the bank's fraud team, pressuring you to share your card details by claiming fraudulent transactions on your account. Banks will never ask for your full or missing card details."

Findings of Discovery Bank's SpendTrend25 report conducted in partnership with Visa, found that over 60 percent of respondents in their public survey are more concerned about banking security now than they were a year ago, and 63 percent said they have either personally experienced card fraud or know someone who has.