ATM crime and credit card fraud are more prevalent over the holiday season than during the rest of the year, banks warn.
"Most people take all the necessary precautions when going on holiday," says Herman Singh, Standard Bank's director of architecture and technology engineering. "Neighbours are informed, insurance is topped up and emergency numbers are given to family and friends.
"Unfortunately, this seems to be where personal security ends. Consumers often get so wrapped up in the joys of the festive season that they make themselves vulnerable to fraudsters"
ATM crime and credit card fraud increase over the holidays, he says, also because bonuses and thirteenth cheques improve personal finances.
Fraudsters are increasingly using small hand-held card-skimming devices to gather credit card details. Singh says this information, which is often obtained at restaurants and shopping centres, is used to make duplicate cards or for Internet purchases.
"Anyone who has access to your personal information is a threat," says Gail Durbach, CEO of FNB Core Banking Solutions: "By being careful with your personal information, you are minimising the opportunity for criminals to abuse your information."
Koos Nel, Nedbank senior manager of card fraud, says: "The theft of credit cards is serious and the consequences can be prevented. If a client informs the bank timeously of the loss, the bank will usually take responsibility for any fraudulent transactions.
"When credit cards are stolen, the card can be used for purchases at retailers and the information (credit card number and expiry date) can be used to make fraudulent purchases on the Internet but not to open further accounts," he says.
"In cases of electronic theft, clients must always be vigilant when asked to reveal personal details, especially when the person requesting the information initiated contact. Clients should also be very careful when giving their data to unfamiliar Websites."
Basic rules
Singh says there are five basic rules to protect finances:
* Never disclose PINs or passwords;
* Never respond to unsolicited e-mail requesting personal information;
* Check bank statements regularly;
* Use the bank's security features; and
* If in doubt, contact the bank's call centre.
He says other precautions should also be followed, particularly with Internet shopping.
When making purchases on the Internet, buy only from reputable companies and always find a mailing address and phone number for the company.
"Look for signs of security on the site," Singh adds. "Symbols like an unbroken lock in the bottom right-hand corner of the screen and a URL that begins with https:// means that no one but you and the merchant can view your payment information."
A record of the transaction should be kept by saving or printing the online confirmation of the order.
"Shred or burn all documents containing sensitive personal information, such as bank statements, credit card receipts and ID numbers," says Durbach.
Personal information, she adds, must be kept in a secure place at home, especially if there are roommates, visitors or employees at home. "Do not give our personal information over the phone unless you are sure you know who you are speaking to. Be wary of promotional scams where you are asked to provide your personal information," she says.
"You should never send your credit card information via e-mail. Information that travels over the Internet as regular electronic mail is not fully protected from being read by outside parties," says Singh.
In addition, Singh says Internet users should ensure their anti-virus software is up to date, use a personal firewall and be cautious if using Internet cafes or computers belonging to someone else.
When using a credit card to pay for goods in other circumstances, ensure the card is always visible to you, he says, adding that ATMs in poorly lit, low-traffic areas should be avoided. "Make sure your get the correct card back from the ATM after your transaction," he says.
"There is no such thing as a victimless crime," Singh says. "By following a few basic security procedures customers can ensure that all transactions they undertake are secure."
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