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Check behavioural weak points to prevent ATM fraud

Check behavioural weak points to prevent ATM fraud

Fraud awareness may be the speciality of commercial banks only but last week it was examined at a broader level by experts contributing to the International Fraud Awareness Week. This event is dedicated globally to fraud awareness, detection, and prevention. It is a global effort to minimize the impact of fraud by promoting anti-fraud awareness and education.

“First National Bank participated in this week through a country wide awareness campaign at all branches. We included staff as well as stakeholders in the training and awareness campaign as we did not only focus on fraud that impacts our customers but also possible internal fraud in which staff members could be involved. We have put together a presentation on the various forms of fraud as well as a booklet which was handed out” said Ingrid Katjiukua, Head of Forensics at FNB Namibia.

FNB’s fraud prevention publication defines all types of fraud, ranging from ATM fraud to card fraud and skimming, cheque fraud, identity theft, phishing, internet banking, e-mail hacking, cell phone banking, money laundering to various scams such as deposit and refund scam, 419 scam and sim-swap. “Our booklet contains information as to what exactly the type of fraud is and most importantly how to protect yourself against becoming a victim and staying money-safe. We have some golden rules in place, which, if people adhere to these and take note, they should not fall victim to any of the numerous ways of fraudsters and scammers“ she said.

Katjiukua encouraged customers to request a booklet from FNB Namibia and to educate and inform themselves on how to protect against fraud. “While it is not possible for me to give all the golden rules that are contained in the book for the various types of frauds, here are my most important tips that people should remember as a first step to being protected:

“Always keep your PIN safe and do not share with anyone – make your PIN and passwords a bit more difficult and do not write them down.
“Be wary of people loitering around an ATM and strangers offering help.
“Do not disclose any personal information to anyone via phone, mail or fax.
“Do not click on a link send via mail.
“Do not open links or documents from a source you do not know”
“Get one time PIN on your cell and PC so that you can immediately notice a possible strange transaction on your account.
“If it sounds too good to be true (money won in lottery, from deceased estate and the like) it probably is.
“Never provide money upfront to an unknown source as an administrative fee.
“Do not do your banking in internet cafes or unsecure terminals – use our cell phone banking.
“Set daily limits on withdrawals and transfers – just in case.
“Check your bank statement regularly and report any discrepancies immediately.”

FNB’s 24-hour number to report any suspicious activity or to stop a card is 061-2992999

About The Author

Following reverse listing, public can now acquire shareholding in Paratus Namibia

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20 February 2020, Windhoek, Namibia: Paratus Namibia Holdings (PNH) was founded as Nimbus Infrastructure Limited (“Nimbus”), Namibia’s first Capital Pool Company listed on the Namibian Stock Exchange (“NSX”).

Although targeting an initial capital raising of N$300 million, Nimbus nonetheless managed to secure funding to the value of N$98 million through its CPC listing. With a mandate to invest in ICT infrastructure in sub-Sahara Africa, it concluded management agreements with financial partner Cirrus and technology partner, Paratus Telecommunications (Pty) Ltd (“Paratus Namibia”).

Paratus Namibia Managing Director, Andrew Hall

Its first investment was placed in Paratus Namibia, a fully licensed communications operator in Namibia under regulation of the Communications Regulatory Authority of Namibia (CRAN). Nimbus has since been able to increase its capital asset base to close to N$500 million over the past two years.

In order to streamline further investment and to avoid duplicating potential ICT projects in the market between Nimbus and Paratus Namibia, it was decided to consolidate the operations.

Publishing various circulars to shareholders, Nimbus took up a 100% shareholding stake in Paratus Namibia in 2019 and proceeded to apply to have its name changed to Paratus Namibia Holdings with a consolidated board structure to ensure streamlined operations between the capital holdings and the operational arm of the business.

This transaction was approved by the Competitions Commission as well as CRAN, following all the relevant regulatory approvals as well as the necessary requirements in terms of corporate governance structures.

Paratus Namibia has evolved as a fully comprehensive communications operator in Namibia and operates as the head office of the Paratus Group in Africa. Paratus has established a pan-African footprint with operations in six African countries, being: Angola, Botswana, Mozambique, Namibia, South Africa and Zambia.

The group has achieved many successes over the years of which more recently includes the building of the Trans-Kalahari Fibre (TKF) project, which connects from the West Africa Cable System (WACS) eastward through Namibia to Botswana and onward to Johannesburg. The TKF also extends northward through Zambia to connect to Dar es Salaam in Tanzania, which made Paratus the first operator to connect the west and east coast of Africa under one Autonomous System Number (ASN).

This means that Paratus is now “exporting” internet capacity to landlocked countries such as Zambia, Botswana, the DRC with more countries to be targeted, and through its extensive African network, Paratus is well-positioned to expand the network even further into emerging ICT territories.

PNH as a fully-listed entity on the NSX, is therefore now the 100% shareholder of Paratus Namibia thereby becoming a public company. PNH is ready to invest in the future of the ICT environment in Namibia. The public is therefore invited and welcome to acquire shares in Paratus Namibia Holdings by speaking to a local stockbroker registered with the NSX. The future is bright, and the opportunities are endless.