By Absa Cyber Security Team
Published May 29, 2021

Vishing is a scam whereby you receive a call from somebody who pretends to be from your bank or another familiar organization. They may claim that there is a problem with your account and ask you for personal information such as your ID number, online login details or PIN.Financial institutions like ABSA Bank and Equity Bank and mobile money operators like Safaricom and Airtel are sending out regular messages to their customers and members of the public sensitising them on cyber security. The message seems to be standard regardless of the business that sends it. This edited article, published in the public interest, uses ABSA Bank’s message to its customers though it could be applied universally.

The ongoing COVID-19 pandemic has caused adverse disruptions in almost every aspect of our lives. In line with this, it is important to note that fraudsters take advantage of such interruptions to prey on unsuspecting individuals. Please see below one of the ways that cyber fraud takes place:

Vishing
Vishing is a scam whereby you receive a call from somebody who pretends to be from your bank or another familiar organization. They may claim that there is a problem with your account and ask you for personal information such as your ID number, online login details or PIN. They will often instill a sense of urgency by threatening that your account may be blocked. This sense of urgency may result in you submitting the requested information in a panic.

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How to spot Vishing

  • The caller announces a problem with your account e.g your account is about to be blocked
  • The caller asks you for personal information such as your ID number, password or PIN
  • The call is from an unknown number or a number that does not belong to your bank
  • You receive a One Time PIN (OTP) on your phone, yet you did not initiate any transaction.

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How to protect yourself

  • Never share your PIN, password, passcode, transaction verification code, OTP or Card Verification Value (CVV) number over the phone. Absa will never ask you for these details over the phone
  • If you receive a phone call requesting you to share personal or confidential information, end the call immediately
  • If you receive an OTP on your phone without having transacted, be aware that the fraudster calling is attempting to access your account. DO NOT provide the OTP to anybody over the phone. Contact the bank immediately to report fraud
  • If you lose mobile connectivity under circumstances where you are usually connected, contact your Mobile Network service provider immediately to verify if you have been SIM swapped.

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Where do I report Fraud?
If you suspect that you have been a victim of a SIM Swap or that your account has been fraudulently accessed, call your bank promptly to have your online banking service suspended.