This is the most common type of cybercrime where hackers send fraudulent emails to clients, pretending to be a bank or financial institution. The emails typically contain a link to a fake website that looks like the real one, but on closer inspection, you may notice a spelling error and tricked into entering your login credentials, which will then be stolen by the hackers.
To protect yourself from phishing attacks, you should be cautious of suspicious emails from senders unknown to you or if you’re not expecting an email from Sasfin, check if it is a legitimate correspondence. Be careful when clicking links or downloading attachments from unfamiliar sources. If you receive a link and the URL is hidden, hover over it to check before clicking on it. If the URL is visible, rather cut and paste it into your browser than click on it. Avoid sharing personal information unless you are sure the request is legitimate. If you’re unsure, call your relationship manager to check. It's important to use two-factor authentication whenever possible and and keep your software and operating system up-to-date.
Malware is a type of malicious software that can be used to steal sensitive information from banks and their clients. Ensure you install reputable anti-malware software and keep it up-to-date, don’t let the software licence lapse, use strong passwords which include upper and lower case letters, numbers and special characters. Always be cautious when opening attachments or clicking links in emails. Avoid public Wi-Fi networks . A factor to consider when utilising public Wi-Fi is that the network name may appear to be the public space you’re in, but it could be a criminal sitting nearby who has created a Wi-Fi hotspot and names it to appear as legitimate. Awareness and application of these measures can help prevent malware infections and limit the damage caused by any potential attacks.
With the increasing use of mobile devices and smart phones for financial transactions, mobile malware has become a significant threat. Malicious apps or malware can be used by scammers to steal sensitive information and conduct fraudulent transactions.
Protect your mobile device from malware by ensuring that your device's software and apps are up-to-date. Only download apps from reputable app stores and read reviews before downloading. Be wary of suspicious links and use strong passwords or biometric authentication to protect your device.
This is a type of cybercrime where hackers install devices on ATM machines to steal customers’ card details and PIN number. This information is then used to create cloned cards, which can be used to withdraw money from the victim's account.
To avoid falling victim to ATM skimming, use ATMs in well-lit and public areas, and cover your PIN when entering it. Do not accept an offer to help you by anyone when transacting, rather walk away from the ATM. Ensure that you are regularly checking your accounts for unauthorised charges, and you can also make use of advanced technologies such as contactless payment options.
Ransomware is a type of malicious software (malware) that encrypts files on a computer or network, making them inaccessible to the owner or user. The attacker then demands payment (often in cryptocurrency) in exchange for the decryption key needed to restore access to the encrypted files.
Organisations can be exposed to Ransomware attacks through phishing emails, malicious website or vulnerability in software which can result in data theft. You can reduce your risk of falling victim to a ransomware attack by ensuring your software is up-to-date and implementing an effective process within your organisation to protect client data.