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Tom Muleya-Fraud Insight
The fight against fraud is an ongoing battle. For as long as money exists, fraud will be experienced.
Fraud dates back to ancient times ,with the earliest recorded attempt in 300BC.
It is estimated that fraud costs the global economy over US$5 trillion annually, with the UK described as the hotbed for fraudulent activity.
Due to ever changing technology, fraudsters are increasingly becoming sophisticated in their attacks; hence the need to use more secure PINs.
Fraudsters are exploiting technology to their big advantage. These criminals are now able to hack into one’s bank account through a mobile hacking application on their smart phones.
Once they get to know your mobile number connected to the bank account, through social engineering they establish the date of birth for instance from Facebook account.
Such information is key for them to hack into the account and transfer funds to their preferred destinations.
Cyber fraudsters know that many people are fond of using simple PINs and passwords they will easily remember and so they use their date of birth.
Let me reiterate that protection of personal information is a must in this ever developing digital world. Once personal details are in the hands of fraudsters, they can get access to your financial accounts.
Hacking involving bank account is now the new wave of attacks perpetrated by fraudsters. To prevent or minimise card cloning of this nature consider the following preventive measures;
Think about the security of your bank accounts always as long as you have money to protect.
Never disclose your bank details to third party or strangers.
Always keep your bank card and pin secure, do not give it to a stranger or to a third part.
Be careful, any disclosure of bank particulars to a stranger may later lead to you being hacked.
Be responsible enough to protect your own personal details and your money, no one will do it for you. If you become so careless, fraudsters will prey on you and enjoy your money.
Never use your date of birth as your PIN or password. Preferably use strong and not easy to guess PIN.
Never manifest signs that you have large sums of money in your account, this attracts fraudsters.
Improve security around your bank accounts and your personal and details.
Develop a security mindset. This will always keep you alert to the dangers involving bank accounts.
Whenever you lose your ATM card to the fraudster, quickly make a report to the police and advise your bank through the hot lines to block the account.
When you suddenly receive unusual text messages of money transfers on your cellphone connected to the bank account, it shows you have been hacked. In this instance quickly advise your bank to block the account and also report to the police.
Get empowered by Fraud Insight and be part of a solution to the crime of hacking.
Tom Muleya is a Detective Assistant Inspector working under CID Commercial Crime Division, Harare. He is also a member of the National Cyber Security Taskforce, Zimbabwe. Feedback, WhatsApp line: 0772 764 043, or e-mail:[email protected].
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