The Ombudsman for Banking Service (OBS) has warned bank accountholders to be vigilant when transacting online and to be aware that scamsters use an array of techniques to obtain confidential information such as debit / credit card details, card pin numbers, transaction OTPs and mobile or internet banking passwords. An attack can be launched by email or text message and, in many cases, by an old-fashioned telephone call. The OBS also stressed that banks were unable to fully protect customers against the tactics used by fraudsters, despite spending millions of rand on world-class security systems and technologies aimed at protecting consumers from fraud.

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