Fraudsters use many schemes and scams to get your card PIN or Online Banking details.

They coax you into clicking on a link in an SMS or email. Get you to download malware on your device. Or call you saying they’re from Nedbank and need your card PIN and Online Banking password to reverse a ‘fraudulent’ transaction.

Tips

  1. Never share your card PIN, NedbankID and password, or profile, PIN and password with anyone.
  2. If your mobile device has been lost or stolen, call 0800 110 929 immediately and have your Money app deactivated.
  3. Read every Approve-it message carefully before you accept it.
  4. Do not share an OTP with anyone.
  5. Do not click on links in an email or SMS. Nedbank will never ask you to sign in to Online Banking through an SMS or email link.
  6. If you get an SMS for a SIM swap or number port you didn’t request, or seem to lose cellphone connectivity for a long time without reason, call your service provider and let us know immediately on 0800 110 929.
  7. Make sure you have the latest version of the Money app on your mobile device.   
  8. If you think your information has been compromised, let us know immediately on 0800 110 929.
  9. Hover your mouse over any hyperlinks to reveal the actual URL and check that it’s the same address in the email.
  10. Look for the lock icon on a website’s toolbar and ‘https’ in the web address, before you enter your card details or personal information online.
  11. Type in web addresses yourself rather than clicking on links in an email or SMS.
  12. Be vigilant when visiting social media sites like Twitter and Facebook, and never share your personal information on public pages.
  13. If you’re making a first-time purchase, do some research and check online reviews.
  14. Use secure payment systems like PayPal.
  15. Use 1 card for buying online.
  16. Make sure you have the latest antivirus software installed on your devices.
  17. Install the latest updates or patches to your operating system as soon as they are available.
  18. Do not bank online using public Wi-Fi or unsecure networks. Fraudsters can easily hack these.
  19. When you receive a suspicious email, forward it to phishing@nedbank.co.za and delete it immediately.  

The Money app is a secure and convenient way to manage your money. But fraudsters use many tricks to get your Nedbank ID, profile, PIN and password or card and PIN to access your accounts.

Tips 

  1. Secure all your mobile devices with passwords to prevent third parties from accessing your phone and the Money app.
  2. If your device is lost or stolen, let us know and we’ll deactivate the Money app for you.
  3. Never give anyone your Nedbank ID, profile, PIN and password, or card and PIN details. Fraudsters can use these to download the Money app.
  4. If you your details are compromised, fraudsters can download the Money app as if they were you.
  5. If you get an SMS for a SIM swap or number port you didn’t request, or seem to lose cellphone connectivity for a long time without reason, call your service provider and let us know immediately on 0800 110 929.
  6. Make sure you have the latest version of the Money app on your mobile device.  
  7. Granting Nedbank access to your GPS location helps with better service and fraud prevention.
  8. If you use biometric ID verification, remember that anyone else you allow to access your device with their fingerprint will also have access to the Money app.
  9. Make sure we always have your correct cellphone number. We use this to send Approve-it messages to you. If you stop receiving your Approve-it messages, call 0860 555 111.

Cellphone banking lets you safely manage your money at anytime from anywhere. But it’s important to secure your cellphone to prevent fraudsters getting access to your cellphone banking platforms.

Tips

  1. Never share your profile and PIN with anyone.
  2. If you get an SMS for a SIM swap or number port you didn’t request, or seem to lose cellphone connectivity for a long time without reason, call your service provider and let us know immediately on 0800 110 929.
  3. Make sure no one sees you entering your PIN at the ATM, especially people standing behind you or next to you.
  4. Always read your Approve-it messages carefully before accepting them.
  5. Never share an OTP with anyone.
  6. Secure your phone with passwords. 
  7. If you think your PIN has been compromised, let us know immediately on 0800 110 929.
  8. Make sure you have the latest antivirus software installed on all your devices.
  9. Install the latest updates or patches to your operating system as soon as they are available.

Syndicates place spotters around branches who look out for clients making large cash withdrawals. The spotters inform other syndicate members who then rob you when you leave.

Carrying large sums of money on you increases your risk of being robbed. If you’re doing personal or business banking, or carrying cash for a savings club or stokvel, you must take precautions and consider digital banking alternatives.

Tips for personal banking

  1. Avoid carrying large sums of money.
  2. Pay your accounts electronically. It’s convenient and much safer.
  3. Use cellphone banking, Online Banking or ATMs to do your banking.
  4. Swipe your card to pay in stores instead of using cash.
  5. Nedbank has secure digital banking channels, including online, cellphone and telephone banking and the Money app. You can also pay through My eBills or transfer money to people using Send-iMali.

Tips for stokvel or club account banking

  1. Do not make large cash withdrawals or deposits on your own. Ask a friend or security company to go with you.
  2. Do not make cash deposits of club members’ contributions at month-end, or on the first Monday, Friday or Saturday of the month. These are all high-risk days.
  3. Ask members to make contributions directly into the club account.
  4. Make club pay-outs electronically into each member’s account.
  5. When carrying cash, do not let anyone distract you and avoid speaking to strangers.
  6. Do not openly display money in the branch.
  7. Do not let people know when you’re making deposits or withdrawals.
  8. You can avoid the risk of being robbed by using our digital banking channels for electronic payments. Call your banker for help with a solution that works for you.

Tips for business banking

  1. Change the days, times and routes you take to the bank to make deposits or large withdrawals.
  2. Use different branches in your area, to change your banking patterns even more.
  3. Avoid driving to the bank in a company-branded vehicle.
  4. Be aware of your surroundings. If you think you’re being followed, call the police.
  5. Do not tell people you’re going to the bank. Even if you trust them.
  6. Do not carry cash in bank bags, briefcases or deposit books. This makes it obvious you’re carrying cash.
  7. Pay beneficiaries through electronic transfer. It’s safer than making cash withdrawals.
  8. Do not make withdrawals at month-end, or on the first Monday, Friday or Saturday of the month. These are all high-risk days.
  9. Avoid paying casual or contract workers in cash. Use wage accounts instead.
  10. Use a cash management service instead of doing your own banking.
  11. Nedbank has secure banking solutions for businesses, including NetBank Business, PocketPOS, Nedbank Payroll and cash-handling. Call your banker for help with the right solution for you.

Fraudsters come up with creative scams to get their hands on your personal information. Once they have enough, they can easily pretend to be you.

Through social engineering, fraudsters manipulate you into giving up your ID, Online Banking password or card number and PIN, or giving them access your device.

They use scare tactics like saying your account will be blocked, that your account’s been defrauded and they need to reverse the transaction, or you need to update your security software.

They also entice you with promises of large prizes, or rewards for converting your Greenbacks into cash.


How fraudsters get your personal information

  • You’re asked to click on a link in an SMS (smishing) or email (phishing) and enter personal information.
  • You’re tricked into downloading malware on your computer by clicking on a link or attachment in an email.
  • You’re called by someone (vishing) who pretends to work for a reputable company like Vodacom, SARS or for Nedbank, and you're asked for your Nedbank ID or PIN and password.
  • They trawl through your social media profiles collecting as much personal information as they can find.
  • They intercept or steal your bank statements, municipal bills and other account statements.

Protecting your personal information is all about knowing who you can and cannot trust, and which online requests are legitimate, and which are not.


Examples of personal information

  1. ID number
  2. Driving licence
  3. Bank statements
  4. Municipal bills
  5. Payslips
  6. Email account login details
  7. Debit or credit card PIN
  8. CVV number (the 3- or 4-digit security number on the front or back of your card)
  9. Your Online Banking profile, PIN and password or Nedbank ID and password
  10. OTPs


Tips

  1. Slow down. Fraudsters rush you. They want you to act now and think later.
  2. Never give anyone your Online Banking password, Nedbank ID and password or card PIN and CVV number. Nedbank will never call you to ask for these details.
  3. Read every Approve-it message carefully before you accept it.
  4. Type in addresses, do not click on links.
  5. Don’t assume that the person calling you is who they say they are.
  6. Be suspicious of unsolicited emails. Do some research. Emails can look legitimate when they’re not.
  7. Make sure your mobile devices are all secured with passwords to prevent third parties from accessing them.
  8. Use different passwords for different online accounts.
  9. Make sure you have the latest antivirus software installed on all your devices.
  10. Install the latest updates or patches to your operating system as soon as they are available.
  11. Be vigilant when visiting social media sites and never share your personal information on public pages.
  12. Use privacy settings on social media to make sure you only share information with friends and family.
  13. Do not carry confidential information in your wallet or leave it in your car.
  14. Shred documents containing personal information before throwing them away.
  15. Check your bank statements frequently and call us immediately on 0800 110 929 if you see any unfamiliar transactions.
  16. Forward suspicious emails to phishing@nedbank.co.za and then delete them immediately.
  17. If you think your information has been compromised, let us know immediately on 0800 110 929.
  18. Report identity theft to the Southern African Fraud Prevention Services (SAFPS) on 0860 101 248 or at safps@safps.org.za

Once fraudsters have your card details, they can process transactions using your card, and download the Money app as if they were you.


How it works

  • You’re called by a fraudster who says they’re from Nedbank, asking for your card PIN and CVV number (the 3- or 4-digit security number on your card).
  • You’re asked for personal information to reverse a fraudulent debit order or to convert your Greenbacks into cash.

Tips

  1. Never share your card PIN or CVV number with anyone. Nedbank will never ask you for these details.
  2. Read Approve-it messages carefully before you accept them.
  3. Never share an OTP with anyone.
  4. If you get an Approve-it or OTP for a transaction you didn’t make, decline the Approve-it and report it immediately on 0800 110 929.
  5. Use only use 1 card for buying online.
  6. Don’t do online shopping using public Wi-Fi or unsecure networks. Fraudsters can easily hack them.
  7. Look for the lock icon on a website’s toolbar and ‘https’ in the web address, before you enter your card details or personal information online.
  8. Type in web addresses rather than clicking on links.
  9. Do a search for any warnings from people who have used the site before.
  10. Use secure payment systems like PayPal.
  11. If your card is lost or stolen, block your card on the Money app.
  12. Make sure you get your original card back after each transaction.
  13. If you compromise your card details, let us know immediately on 0800 110 929. 

When you use an ATM, it is important to always be alert and aware of your surroundings so you don’t compromise your card or PIN.

Fraudsters often tamper with ATMs so that they don’t work properly and then pose as friendly passers-by who offer to help. They then steal your card information.


How it works

  • Card skimming: you’re distracted at the ATM and the fraudster removes your card. They swipe it in a skimming device and return it to the ATM without you knowing.
  • Card swapping: the fraudster distracts you and swaps your card with a similar card.
  • Shoulder surfing: the fraudster stands close enough behind you at the ATM to see you enter your PIN.


Tips

  1. Don’t ask anyone for help at an ATM. Rather go into a branch for help.
  2. Never accept help at an ATM, not even if the person looks like a bank official or security guard.
  3. Never give your card PIN to anyone, Nedbank will never ask you for this.
  4. If your card is retained by an ATM, block your card on the Money app or by calling 0800 110 929 before leaving the ATM.
  5. Don’t allow anyone to see your PIN when entering it at an ATM.
  6. Scan the area for suspicious people before you approach an ATM.
  7. Choose a safe and well-lit ATM where you can be seen.
  8. If you think an ATM has been tampered with or is faulty, do not insert your card. Go to another ATM. You can report faulty ATMs on 0860 555 111.
  9. Have your card ready when you approach an ATM. Don’t wait till you’re there to look for it in your bag.
  10. Always follow the instructions on the ATM screen carefully.
  11. If you struggle to insert you card at an ATM, don’t force it. The ATM could have been tampered with.
  12. Do not believe in hoaxes like entering your PIN backwards at an ATM will notify the police that you need help. These are scams designed to get you to reveal your PIN.

Fraudsters trick you into allowing them to use your bank account to receive money made through illegal activities, like drugs sales, human trafficking, smuggling, fraud or corruption.

They do this so they’re not linked to the transaction and to make illegal transactions look legitimate. This is money laundering.

If you hand your account over to someone to use and the transactions are linked to a crime, you could face criminal charges and prison time for being involved in money laundering.

Even if you didn’t know a crime was being committed, you could be banned from having a bank account or credit facilities.

How it works

  • In a dating scam, you’re asked to receive money and send it on to a third party.
  • In a false offer of employment, you’re given money and asked to open a bank account. You’re then asked for the bank card and PIN so the fraudsters can withdraw the money owed from your first salary.
  • You’re offered money in return for allowing someone to ‘borrow’ your account for a large deposit and withdrawal.

Tips

  1. Don’t allow your account to be used by another person to deposit funds into and then transfer or withdraw funds from it.
  2. If you have doubts about the origin of funds, or a transaction appears to be unusual, (for example an unexpected deposit into your account), report it to your bank and confirm the details.
  3. Beware of requests to roll funds through your account, regardless of how legitimate the request appears.
  4. Remember that handing over your card and PIN allows fraudsters to clone or use your card and withdraw your funds or the proceeds of crime from your account without your knowledge.