Bank warns against eWallet scam

Otis Daniels_Finck
A new scam has emerged where fraudsters access and manage customers’ eWallet accounts on the FNB App.

“We have seen this new scam doing the rounds and urge our customers to take note of how it works to protect themselves,” said Jerome Namaseb, FNB’s head of retail transactional banking.

Namaseb said that first, fraudsters will select a random cellphone number and attempt to link the eWallet of the selected number to their own smartphone, which triggers a notification (with an OTP – one time pin) asking to confirm if the customer is indeed the one attempting to link their wallet.

“The fraudster then calls the client with a fake excuse to attempt to obtain the OTP. Unsuspecting clients then give up the OTP which allows the fraudsters access their eWallets for future transfers and withdrawals.”

Namaseb warned customers that the OTP is sufficient control as it seeks authorisation of the account/wallet holder. “As with any PIN or password – do not give your OTP to anyone as this step is crucial to protecting your funds. If anyone calls you claiming to be from the bank, and asks you for your OTP or a pin or password of any kind, hang up the phone immediately and report the incident to the bank.”

He reiterated that FNB will never request any security information from customers over the phone and advised clients to never give out any confidential information.

“Please remain vigilant and protect your hard-earned cash at all times.”