Fraud and white-collar crime continue to drain money from the economy, while ID theft, 419 scams and loss of PIN security are a prime concern, says Bonny Feldman, First National Bank`s (FNB`s) head of external communications.
Feldman was speaking at the launch of FNB`s annual ATM Security Week, which aims to highlight tactics used by criminals to take advantage of unsuspecting ATM users.
The bank has introduced Fraud Watch, a regular bulletin that will provide an overview of the latest tactics used by fraudsters. It will also highlight 'hotspots` for this type of activity, as well as provide consumers with tips on how to avoid becoming victims of crime.
The bulletin will be posted on FNB`s Web site and released through the media.
Feldman stressed the need for consumer education at grassroots level to help individuals protect their personal information.
"FNB is committed to consumer education and by highlighting some of the new types of fraudulent activities, we aim to help empower our customers through knowledge," she said.
Issues to be tackled in the bulletin include the 419 scam which involves receipt of an unsolicited letter or e-mail claiming to offer the potential victim a large sum of money; ID theft that involves obtaining the victim`s personal and bank information and using that information to open a new account; and card swapping.
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