Financial Crime World

Botswana Banking Sector Worried by Rise of Online Fraud

As digital payment systems and online banking continue to grow in popularity in Botswana, the country’s banking sector is facing a surge in online fraud cases. To stay ahead of these criminals, Absa has issued a series of security tips to help customers protect their personal and financial information.

Top 6 Security Tips to Protect Yourself from Online Fraud

Be Cautious

  • Be alert and vigilant of any unsolicited phone calls, text messages, and emails from fraudsters.
  • Never give away your personal and security information unless you are sure it is safe.
  • Never disclose your passwords and PINs to anyone.

Keep Your Information Secure

  • Never disclose your banking details. Fraudsters can lure people into giving these details - don’t let them in.
  • Don’t assume a caller is genuine because they know your banking details. Fraudsters could have basic information about you, such as your address, bank account number, and details of recent transactions.

Stay Protected

  • Keep your computer’s anti-virus software up to date.

Additional Fraud Alerts and Safety Tips

Skimming and Identity Theft

  • Watch out for skimming - criminals use devices to collect and store information from debit or credit cards during transactions.
  • Be cautious of identity theft and identity fraud - fraudsters can obtain and use your personal data unlawfully.

Cheque Safety

  • Practice cheque safety - never send cash cheques, leave gaps before words and figures, and never issue “cash” cheques.

SCAM Stands for:

  • Shield your personal information
  • Check your financial information regularly and report anything suspicious to the bank as soon as possible
  • Ask periodically for a copy of your credit report
  • Maintain careful records of your banking and financial accounts and reconcile them frequently

If you see or experience anything suspicious, contact Absa immediately.

Protect Yourself from Skimming

Check Your Surroundings

  1. Check for any unusual objects not normally found on ATMs.
  2. Check that the ATM keypad is secure and shielded from prying eyes.

Use a Safe ATM

  1. Use an ATM that is well-lit and monitored by a security officer.

ATM Safety Tips

Treat Your Card with Care

  1. Treat your ATM card as cash.
  2. Avoid using ATMs at night or in isolated areas.

Secure Your PIN

  1. Shield the ATM keypad when entering your PIN.
  2. Carefully secure your card and cash before leaving the ATM.

By following these simple tips, you can significantly reduce your risk of falling victim to online fraud and protect your personal and financial information. Stay safe!