NATIONAL NEWS - It’s the holiday season and besides shopping, sun and sandy beaches, scammers also become more active.

According to the fraud guide issued by the financial services provider DirectAxis, South Africa is one of the most targeted countries in the world. On average, according to the 2018 Global Economic Crime and Fraud Survey, the rate of reported economic crime is 77% compared to the average global rate of 49%.

The three most common scams

• Upfront fees
These scams ask you to pay an upfront fee for reasons varying from an administration fee for a loan or releasing funds from an alleged lottery win to transfer fees for an inheritance. If you’ve not bought a lottery ticket or don’t know the relative who’s left you an inheritance, it’s almost certainly a scam. If it’s a loan that’s offered and the amount seems high and the interest rates very low, be suspicious.

• Identity theft
Instead of trying to steal your money, these scams try to get you to hand over personal information such as your ID, passport information, driver’s licence, e-mail account details or payslip. The fraudsters often present these scams in a similar way to the upfront-fee scams, requesting the information so they can release a lottery payment, competition win, loan or inheritance. Instead, they use the information to open bank or retail accounts or take out loans in your name. 

You can end up being accountable for these debts.

• Remote access to your personal and banking information
This happens when criminals download software onto your computer so they can take control of it remotely or see the information you’re typing in. A typical example is that you’ll get a call or e-mail from someone pretending to be from one of the big software brands, an IT provider or even your bank. They’ll offer to remotely load some security or protective software or upgrades onto your computer.

Once the software is installed, you’ll be prompted to log into your online banking profile. Then you’ll get one-time passwords (OTPs) on your phone to confirm transactions you haven’t made. The scammer will then ask for these OTPs to ‘block’ them, but actually use the information to steal money from your account.

Top tips on how to protect yourself

• Don’t share your passwords or pin numbers with anyone.

• Don’t share personal information on social media sites.

• Never let anyone have remote access to your computer, even if they claim to be from a well-known company, bank, IT or software provider.

• Never send money or give credit card details, online account details or copies of personal documents to anyone you don’t know or trust.

• Check for security devices on website and social pages such as padlocks and verification ticks/marks.

• Be suspicious of e-mails or messages from friends that seem out of character or from well-known companies that contain spelling and grammatical errors or other inconsistencies such as Gmail addresses rather than a company domain e-mail.

• Be careful about opening or answering unsolicited messages.

• Be wary of payment requests for goods or services you haven’t or don’t remember ordering, especially if you’re asked to use an unusual payment method such as MoneyGram.

• Check your credit rating regularly. A sudden, negative change in your rating may indicate someone is using your personal information fraudulently.

If you’re suspicious, report the scam. The information you provide may lead to the scammers being prosecuted or at least the scam being shut down, so other people don’t get defrauded.

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