CAPE TOWN - Everyday in South Africa, wheeling an dealing scammers are on the hunt looking for their next victims. It has become so brazen that just recently, the South African Reserve Bank was being used as a front for such scams.

So elaborate and unsuspecting are these tricks, one can easily fall victim to scammers.

Here are some key action steps to take once you realise that you have been scammed.

In light of emails which claim the identity of senior officials at SARB, they have exposed these types of crimes for individuals to be wary of, especially during this time of year.

"These emails are clearly a scam. They are not legitimate correspondence from the SARB. The nature of the activities that the SARB undertakes is such that the SARB does not make payments to, nor does it receive them from, the public, both locally and abroad. Any emails or other forms of correspondence purporting to be from the SARB and informing recipients of funds due to them by the SARB must be rejected as a scam", the SARB said in a statement.

As scams gain momentum around the world, take a look at what action steps individuals can take.


"Banking scams are prevalent the world over, and unfortunately South Africa is no different", said South African Banking Risk Information Centre (SABRIC) CEO, Kalyani Pillay.

However, fraudsters change their modus operandi based on gaps they identify and where possible opportunities to fraud a victim exist.

ACTION STEPS TO TAKE WHEN A VICTIM OF FRAUD

Should your card be retained by an ATM, contact your Bank and block your card before you leave the ATM

- Report lost and stolen cards immediately to your Banks fraud department.

- If you receive an OTP on your phone without having transacted yourself, it was likely prompted by a fraudster using your personal information. Do not provide the OTP telephonically to anybody. Contact your bank immediately to alert them to the possibility that your information may have been compromised.

- Should you fall victim to fraud where you have paid money to a fraudster, contact your Bank immediately so that they can assist by stopping any payments
Although banks do investigate each case of a scam, there is no guarantee that individuals will be reimbursed. The decision to reimburse a victim of fraud is based on the merits of each case, concludes Pillay.



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