Fiji Banks Beef Up Security Measures Against Fraud
In a bid to combat the growing threat of fraud in Fiji’s banking sector, local financial institutions are stepping up their security measures to safeguard customers’ sensitive information.
Phishing and Vishing: The Latest Scams
According to experts, phishing emails and vishing telephone calls can trick even the most cautious individuals into disclosing passwords and confidential details on fake websites or to bogus callers. Moreover, viruses and spyware can compromise personal data stored on computers, giving criminals unfettered access to bank accounts and other private information.
How to Avoid Falling Prey
To avoid falling prey to these tactics:
- Never disclose sensitive information in response to unsolicited emails, phone calls, or letters purporting to be from your bank.
- Banks will never send emails or make calls requesting such information. Any genuine communication will typically include your actual name and possibly a verification code.
Online Banking Security
When accessing online banking:
- Ensure you are using a secure internet connection. Look for the ‘https’ prefix in the website address and a padlock symbol in the browser frame.
- Verify the website’s legitimacy by carefully checking the address for subtle misspellings, extra words or characters, and other irregularities.
- Only visit your bank’s official website by typing in the correct address or using a bookmark you’ve created previously.
Additional Security Measures
In addition to these measures:
- Install up-to-date antivirus and antispyware software on your devices before logging into your accounts.
- Use unique passwords and PINs for each website. Adopt strong password and PIN combinations that should never be shared with anyone else.
- Some banks offer dual authority transactions above a certain limit, allowing customers to authorize specific transactions in advance.
What to Do if You Receive Suspicious Calls
If you receive suspicious phone calls purporting to be from your bank:
- Hang up and call back using another phone or wait at least five minutes before responding.
- Fraudsters can hold the line open and even spoof caller ID numbers, making it appear as if the call is coming from a legitimate source.
Monitoring Your Statements
Regularly monitor your statements for any unusual transactions and report them immediately to your bank.
Staying Safe Online
To stay safe online:
- Avoid conducting online banking on public computers.
- Be aware of ‘shoulder surfers’ who may be viewing your screen.
- Do not assume that soft keyboards are more secure than physical ones.
- Many banks also employ two-factor authentication to provide an additional layer of security, requiring users to enter a code generated by a card reader or standalone device in addition to their username and password.
Additional Resources
For more information on online security and known fraud schemes:
- Visit your bank’s website for more information.
- Report actual or attempted fraud to the police and your bank immediately.