PIN security can defeat most fraud
Ester Kali, Executive of Retail & Business Banking at FNB Namibia said that being vigilant when it comes to bank card PIN security is the best way to defeat card fraud.
However, Kali advised that a recent study by Visa and FNB in South Africa showed that South Africans are still too lazy when it comes to adhering to safety measures to keeping their PIN codes safe.
“Unfortunately this is also the case in Namibia. Many Namibians do not keep their PIN safe and more often than not another person also knows the PIN. Other people write down their PIN but this should be avoided at all times,” she added.
“Clients should also avoid strangers and security guards to assist them at the ATM’s. Take a trusted friend or relative to assist or ask a bank official to assist you.”
22 to 26 April marked the 9th annual Card Security Week, enabled by Visa and FNB in South Africa and its aim was to help prevent card fraud by creating greater awareness amongst consumers and alert users to areas where they may be exposed to fraud. This initiative has proven its own value and FNB Namibia tend to use a similar local strategy to sensitise card user about PIN security.
Kali further said consumers should be most vigilant when transacting online in a card-not-present purchase and when their cards could be skimmed and cloned in a retail or ATM transaction.
“It’s important to keep your card in sight whenever possible and regularly check amounts that have gone off your account. Card fraud is a reality facing consumers but FNB continuously monitors card fraudsters around the world to ensure they are up to date with their methods of obtaining customer information,” she said.
Skimming and cloning remains the biggest card fraud threat to customers, from FNB’s perspective. Customers are urged to take care when transacting or when at an ATM.
“PIN security is something each customer should make a priority, as your PIN is your “first-line” of defence against card fraud. FNB is driving greater card usage and cashless transactions by making card purchases free. At the same time we are actively taking steps to inform our customers about simple security precautions to prevent card fraud, two good examples of this are FNB Online Secure (FNB’s customised version of Verified by Visa) and free InContact,” she advised.