Fiji’s Online Banking Scene Plagued by Fraudulent Activities, Says ANZ

A recent round table discussion on growing cyber threats in the region has shed light on a disturbing trend of fraudulent activities targeting loved ones through online banking transactions. According to ANZ Fiji Country Head Rabih Yazbek, family members are often involved in these scams.

The Disturbing Trend

• Family members are frequently involved in fraudulent activities targeting their loved ones
• This trend has left many concerned about the security of their financial information

According to Eli Hirschauge, ANZ New Zealand’s Head of Information Security, mobile banking is a breeding ground for cyber threats. Many consumers unwittingly compromise their accounts by sharing their username and password with others.

Mitigating Risk

• ANZ has implemented an additional layer of security on its mobile banking website
• This protection prevents unauthorized access to customers’ accounts

Hirschauge stressed that while scams can be devastating, it is possible to contain the damage by reporting incidents to the police and having affected accounts blocked or placed on hold.

Collaboration and Education

• Hirschauge emphasized the importance of collaboration among stakeholders in addressing these issues promptly
• ANZ has pledged continued support for workshops aimed at educating businesses and customers about the risks associated with cyber attacks, as well as strategies for mitigating their impact

As Fiji’s online banking landscape continues to evolve, it is crucial that residents remain vigilant and take proactive measures to safeguard their financial information from fraudulent activities. By staying informed and taking steps to protect themselves, individuals can minimize the risk of falling victim to these scams.