Secure Banking; How to Avoid Losing Money in Fake Online Security Checks
While digital banking offers significant convenience, it also brings a growing challenge from sophisticated fraud.
One of the latest scams uses a reverse psychology tactic to trick individuals worried about data theft into giving away their credit card details.
Consider Sarah’s experience. Sarah came across a social media post claiming to be conducting a free “security check” to see if her debit card details have been compromised in a past data breach.
The post included an image of a form asking for her card number and CVV (Card Verification Value, a three- or four-digit security code on credit and debit cards). It also included a number which she could call to be guided through the “security check” process.
#KataaUtapeli #KaaChonjo
Sarah, rather than calling the number, recalled how her bank had warned her against sharing her PIN and credit card with fishy websites. She contacted the official customer service line found on the bank’s website where she confirmed her fears that the “security check” seemed like a helpful service, but it was a trap designed to create a false sense of urgency.
Like many others who rushed to provide their details, Sarah could have fallen prey as the scammers mine the data and use it to commit fraud, leaving victims with financial losses and compromised accounts.
This is just one of the ways hackers are increasingly exploiting AI tools to boost the efficiency, scale, and impact of their operations. As access to AI tools become more widespread, threat actors are leveraging AI to enhance their capabilities and target organizations and individuals.
Cybercriminals are closely monitoring trends in AI adoption, quickly exploring the potential for abuse. They are going beyond mainstream platforms by developing and trading specialized malicious websites and apps tailored to spread malware, steal data, commit financial fraud and phishing.
Essential Security Tips to Protect Yourself
- Always verify the legitimacy of any website or service claiming to check if your data has been compromised.
- Do not enter personal or financial information on unverified sites.
- Avoid suspicious links and attachments to avoid being scammed.
- Be cautious of AI-generated phishing emails and social engineering attacks asking for personal data.
Equity Bank is committed to safeguarding its customers’ accounts. If you’re an Equity customer, keep these essential security measures in mind:
- Never share your PIN, CODE, or OTP with anyone, regardless of their claimed identity.
- Keep your personal information confidential. This includes your account number, CVV/CVC, ID number, and date of birth.
- If you receive instructions over from an email or social media message, do not enter them into your device. Do not respond to the email.
- Avoid sharing personal details via SMS, phone call, website or email.
- Report any suspicious numbers or SMS lines to 333 for FREE.
- Be wary of calls or messages from unknown numbers. All official calls from Equity Bank will originate from 0763 000 000.
Be Vigilant: Take control of your financial security now! Don’t let hackers scam you. To learn more visit: Secure Banking Tips | Equity Bank Kenya.
