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How this scam works

Fraudsters call you posing as a Nedbank employees, claiming that someone is trying to make a purchase with your bank card or that your account has been compromised. Then they ask you to do one of the following urgently to protect your account or reverse a transaction:

  • Share your card number, PIN, expiry date and CSC (the 3- or 4-digit security number on the front or back of your card) or Nedbank ID username and password. The fraudsters now have your card details or Nedbank ID username and password.
  • Change your Nedbank ID username and password to ones that they give you over the phone to ‘protect’ your account. The fraudsters now have your Nedbank ID username and password and can access your account.
  • Click on a link to download an app. Once you’ve downloaded it, the fraudsters can access your device without you knowing and may even download malware onto your device, compromising your security.  

 

To make the call seem legitimate, fraudsters do the following:

  • They use number masking software to disguise their numbers to make it seem like they’re calling from Nedbank.
  • They may already have your ID and account number or other personal information to make the call seem real.  
  • They may give you the name of an actual Nedbank employee and encourage you to call and confirm whether they work at Nedbank.
  • They play on your emotions by creating fear, panic (hacked account) or excitement (you have won a prize) and then ask you to share your personal information like your card PIN or Nedbank ID username and password.

 

Tips to keep safe

  • If you receive a call from anyone asking for your Nedbank ID username and password or card PIN, put the phone down immediately. You’re talking to a fraudster.
  • Nedbank will never ask you for your Nedbank ID username and password or card PIN to reverse a transaction or debit order. This is secret information that only you should know.  
  • Never share your online banking login or card details with anyone – not even a bank employee.
  • Read your banking notifications carefully. If you receive an in-app approval message for a transaction that you didn’t make, reject it and notify your bank immediately.
  • If you receive an SMS or OTP for a transaction that you did not make, notify your bank immediately.
  • Never share your OTP with anyone.
  • Your bank will never ask you to move your money into another account to prevent fraud or to change your online banking login details to details that they give you.
  • Don’t trust caller identity. Fraudsters use number-masking to make it seem like you are receiving a call from your bank.
  • Beware of urgent messages or calls that threaten serious consequences, causing panic and requiring immediate action. Don’t rush into acting – check with your bank first.