First National Bank (FNB) says its inContact service, a real-time SMS and e-mail notification system, can be credited with preventing fraudsters from stealing money from Democratic Alliance MP, Dene Smuts.
The service helps customers track the activity on their accounts by sending an SMS immediately when a transaction occurs.
Smuts, a customer using inContact, was made aware of unauthorised activity on her account when she received an SMS notification while attending a parliamentary portfolio meeting this week.
FNB conducted an investigation and the transaction was immediately rejected.
"With the spotlight being on banking security, services like inContact have become more relevant than ever," says Rowan Suchard, product manager for inContact at FNB.
The bank suspects that while the cardholder was overseas, her card details were skimmed - a common act performed by foreign fraud syndicates. The skimmed details are not necessarily used immediately but stored for later use.
"Although FNB offers its customers services such as inContact which serve as early warning detection systems, customers are also advised to be exceptionally careful with their debit and credit cards and to protect their PIN at all times," warns Suchard.
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