Beware of the latest phishing scams
The fraudulent bank statement
There have been an increase in phishing attacks in the banking industry, with fraudsters sending a
variety of emails that look as if they come from Nedbank and other financial institutions asking clients
to click on a link and insert their personal details.
Fraudsters often try to trick you into clicking on a link by sending a fake bank statement, asking you to
click on a link to upgrade to the new ‘Nedbank Money’ platform to avoid your account from being
suspended, or by sending false payment alerts asking you to click on a link to cancel the fake
payment. In some instances they even ask you to accept an Approve-itTM message, hoping that you
won’t read it properly and notice that they are moving funds out of your account.
When you click on the link in the email, it directs you to a legitimate-looking website. When you enter
your personal details, account details, PIN and password, Nedbank ID and password on the fake
website, the information is forwarded to the fraudsters, who are then able to access your bank
account allowing them to transfer funds from your account into specially opened bank accounts.
These accounts are then cleared of the transferred funds within minutes.
Tips on how to stay safe
- Never share your PIN or password with anyone.
- Be cautious about clicking on links in an email or text message. Nedbank will never ask you to log
on to internet banking through a link in an email.
- Hover your mouse over any hyperlinks to reveal the actual URL and check that it is, in fact, the
address in the email.
- Ensure that you have Trusteer Rapport, which is online fraud protection software on your
computer, and is free to all Nedbank clients. When you log off from internet banking, click on the
Trusteer icon to install the application and then restart your computer.
- Make sure that you have reliable, up-to-date antivirus software installed on all your computers
and, if possible, install a robust firewall to prevent information from entering or leaving your
computer unsanctioned through the internet.
- Ensure that you install the latest updates or patches onto your operating system as soon as they
are available to prevent criminals from exploiting security vulnerabilities on your computer.
- Do not open attachments or click on links from unknown sources.
- Don’t trust caller identity ‐ a fraudster can make use of number-masking software to make it seem
as if you are receiving a call from Nedbank when you actually aren’t.
- Always read the Approve-itTM messages you receive carefully before accepting them. If you
receive an Approve-itTM message for a transaction you did not initiate, decline the transaction and
report the incident to Nedbank immediately on 0800 110 929.
- Should you receive an SMS notification for a transaction that you did not perform, report it
immediately by phoning 0800 110 929.
- Scrutinise your bank statements frequently and notify Nedbank as soon as possible if you see any