As we hit the holiday season, it is important to empower yourself to not fall victim to Card Not Present (CNP) fraud. Photo: Pixabay
As we hit the holiday season, it is important to empower yourself to not fall victim to Card Not Present (CNP) fraud. Photo: Pixabay

How to transact safely online and avoid card fraud over the holidays

By Staff Reporter Time of article published Dec 22, 2020

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DURBAN - As we hit the holiday season, it is important to empower yourself to not fall victim to Card Not Present (CNP) fraud.

CNP fraud ccurs when neither the card nor the cardholder is present whilst a fraudulent transaction is being conducted.

Earlier this year, SABRIC reported that in 2019 Card Not Present (CNP) fraud amounted to 62 percent of gross fraud losses on South African issued credit cards, and with a debit card amounted to 46.9 percent.

However, to continuously get the best experience when shopping online, it’s equally as important to ensure that you are not caught off guard by online “fraudsters.”

Trish Ramdhani, Head of Fraud at FNB Card shares some tips for consumers to consider when shopping online with their credit or debit cards.

  • Ensure that you are buying from reputable websites and Apps.
  • Enter the provider’s website by typing in the web browsers yourself instead of accessing it via a search engine as it might lead you to a spoofed site.
  • Never access the website from a link you receive in an e-mail or SMS.
  • Make sure that you are not on a spoof site by clicking on the security icon on your browser tool bar, to see a Padlock and that the URL begins with https rather than http.
  • Never save your personal and banking details on any merchant website. if the option presents itself, always remember to click ‘No’.
  • Always remember to log off immediately when you have finished shopping.
  • Always ensure you download the latest anti-virus software on your PC and mobile device where possible.
  • Never provide your credit or debit card details unless you've initiated the transaction
  • If you are an FNB customer, ensure that your inContact details are up to date in order to get notified when money leaves your account.
  • Should you suspect any fraudulent activity, immediately report the incident through the Banking App or contact the number at the back of your card.

“Following the above quick safety precautions and keeping up to date with the measures that your bank is using to prevent online fraud will give you peace of mind when shopping online with your credit or debit card,” concluded Ramdhani.

BUSINESS REPORT ONLINE

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