- There is a “new wave” of banking scams targeted at consumers and small businesses, says SA’s banking ombud.
- But the methods are much the same, often relying on people to hand over OTPs or other credentials to make payments.
- If you fall for such a scam and your bank wasn’t negligent, that’s your problem, says the ombud.
- New research says technically-minded people may be even more susceptible to phishing than people who aren’t as tech-savvy.
- For more stories go to www.BusinessInsider.co.za.
South Africa is seeing a “new wave” of attacks on the bank accounts of consumers and small businesses, the Ombudsman for Banking Services said on Friday.
And those who fall for such scams may find they have to live with the losses because it is not just up to banks to keep their money safe.
“All indicators are pointing towards the fact that there are new scams and an increasing number of the victims,” said ombud Reana Steyn in a statement.