Stay safe and watch out for festive season scams

Latest scams to look out for

Client coaching scam

Fraudsters pretend to be from Nedbank's Fraud Department and use scare tactics to pressure you to transfer money to a fake 'safe' account, install an app from a link they send you (giving them remote access), or share confidential details like your Nedbank ID username and password, card PIN, expiry date, or CSC (the 3- or 4-digit security code on the back of your card). They may also ask you to create a virtual card and share the details with them.

To make their calls seem real, they’ll change their caller ID to show Nedbank's name or number and send an SMS or WhatsApp message saying the bank will call you to 'help' you.

Selfie scam

Fraudsters posing as retail store employees may offer you a 'free' voucher. To activate it, they ask for personal details like your ID number and a selfie. In reality, they want to use your selfie and ID to register your Money app on their own device. Then, they trick you into handing them your phone so that they can accept the Approve-it message for the app download. Once they have enrolled you, they walk away with your banking app and are able to access all your money. You never get that free voucher.

Phishing

Fraudsters send you a fake email or message that looks like it comes from Nedbank, ask you to click a link to view a statement or proof of payment, reverse a transaction, update your FICA details, or remove a device from your profile. The link provided actually leads to a fake site that requests your card details, or Nedbank ID username and password. They may ask you to accept an Approve-it message or share an OTP.

App download scam

Fraudsters will sometimes post fake ads on social media, posing as well-known airlines or retailers offering discounted flights or products. When you respond, they contact you and ask you to download a fake app to claim the discount.

Once installed, the app gives them remote access to your device. They would then ask you to log in to your banking app. Once you have logged in, your screen may go blank or display a fake loading screen while they make fraudulent transactions in the background.

Parcel scam

Fraudsters target online shoppers by sending fake emails or SMSs that appear to be from courier companies or the South African Post Office. These messages ask you to click on a link to make a payment to release your package. The links lead to fake websites that ask for your card details or Nedbank ID username and password.

Social media marketplace scams

Social media marketplaces can be a great place to find deals, but they also attract scammers. Fraudsters post attractive deals on items at discounted rates or that don't exist. Once you have made a payment, they vanish with your money. In some cases, they even arrange to meet you to collect the goods, only to hijack you and steal your money.

Watch out for holiday scams where fraudsters post fake accommodation listings on online platforms offering non-existent or unavailable accommodation.

How to keep safe
Stay cautious
Tips for online shopping

How to keep safe

Never share your card PIN, expiry date or CSC number (the 3 or 4-digit security code), or Nedbank ID username and password over the phone or on websites accessed from a link in an email or text message.

We will never ask for your secret information (e.g. card or banking login details) or ask you to create a virtual card, move your money to another account or change your Nedbank ID username and password to ones that we give you.

Read your banking notifications carefully. If you receive a one-time password (OTP), or an Approve-it message for a transaction you didn't make, reject it and call us immediately on 0800 110 929. Never share your OTP with anyone.

Download apps from only official app stores – never from links.

If the bank calls about a suspicious transaction, simply say 'Yes, it's mine' or 'No, it's not mine.' Don't share any secret information or approve anything.

Don't trust caller ID – scammers can fake it.

Stay calm. If someone tries to rush or scare you into acting, it's likely a scam. Don't be rushed – check with us first.

Stay cautious; remain vigilant

If your mobile device is lost or has been stolen, or you suspect a fraudulent SIM swap, contact your service provider to block the SIM card and let us know immediately by calling 0800 110 929.

If you receive a message for a parcel delivery, verify the message on the courier's official site or contact number using the official tracking number before sharing your banking information.

Don't be tricked by fake promotions. Always check with the retailer to ensure that they are offering discounts or running a promotion.

Don't let a stranger take a selfie of you and don't hand your cellphone to a stranger.

Be cautious of websites with unrealistically cheap offers or tricky terms and conditions that automatically subscribe you for long-term monthly payments. Always read the terms and conditions.

Keep antivirus and system updates current and ensure your banking app is up to date

Tips for online shopping

Be careful of offers that sound too good to be true. Avoid clicking on links in messages – rather type in a web address.

Be careful of new or unknown online retailers, especially if they offer goods at unrealistic discounts. If you are making a first-time purchase, research the seller, check online reviews and use secure payment methods.

Be cautious of websites with tricky terms and conditions that automatically subscribe you for long-term monthly payments. Always read the terms and conditions.

When making a purchase with your card online, verify that the amount and currency on the Approve-it message correspond to the amount you intend to pay.

Keep antivirus and system updates current and ensure your banking app is up to date.

Avoid doing online shopping over public Wi-Fi or unsecured networks as fraudsters may be able to hack them.