Fraud syndicates are likely preparing to pounce as shoppers throw caution to the wind in the Black Friday shopping frenzy, warns Ideco Biometrics CEO MARIUS COETZEE.
The Black Friday sale tradition is gaining momentum in South Africa, with leading retailers promising significant discounts from Friday, 24 November, through to Cyber Monday on 27 November.
For many consumers, the discounts will prove too tempting for caution as they happily part with their personal information and hand over their credit cards to snap up the deals on offer, says Ideco Biometrics CEO Marius Coetzee.
“Fraud syndicates are sophisticated and very well organised, with individuals and businesses losing billions of rands to fraudsters every year. The moment a consumer drops his or her guard, they risk having their personal and banking information duplicated or shared and misused to carry out fraudulent transactions or deplete the victim’s bank account,” Coetzee warns.
The key to safe shopping this Black Friday is to stay vigilant and watch your credit card, he says.
Online shopping can be safer than bricks and mortar shops
“It might surprise some shoppers to discover that online shopping can be safer than using your credit card at a restaurant or retail outlet. When you hand over your physical credit card, it is very easy for fraudsters to ‘skim’ the card – presenting it to a card reader at the bottom of the point of sale device. This information can be shared across a syndicate within minutes, and by the time the victim becomes aware of the problem, their account could have been drained,” he says.
Coetzee recommends keeping an eye on your card throughout the transaction. “Giving your card to someone who walks away with it to a point of sale terminal is asking for problems. Many reputable retailers now allow customers to conclude their own transactions by entering the card into the point of sale device. This is typically the safest option, allowing the consumer to stay in control of their own card and personal information.”
Guard your identity
While reputable online retailers go to great lengths to ensure a secure environment for transactions, there are some potential risks in buying online or over the ‘phone, mostly because of consumers’ willingness to share personal information with strangers.
“Your identity – your personal information – is the key to accessing your home and your bank account, so you have to be cautious about who you share it with,” says Coetzee. One way to be sure you’re sharing your information with a trusted online retailer is to initiate the engagement and the purchase, he says.
“If you initiate the process by going to a reputable online retailer’s website or calling a company’s contact centre, you know who you’re engaging with. Whereas if you click on a link you’ve been sent via email to start shopping, or you share personal information with someone who calls you on the ‘phone, you have no way of knowing for sure who you are giving your information to.”
“It’s safest not to answer questions from people pushing a sales effort to you – rather ask them to confirm the information they have about you. If they don’t have your details, be careful of confirming your personal identity information,” he says.
“It’s commonly accepted that when you drop your guard is when fraudsters will strike. So on Black Friday, when everyone is distracted in the rush to grab the best deal, they need to exercise caution and guard their information,” he says.
Ideco, a pioneer in identity management solutions, is leading efforts to introduce advanced new identity management systems to South Africa to reduce the risk of fraud and identity theft
Now download a bank account
Absa has introduced an end-to-end account opening for new customers, through the Absa Banking App, which can be downloaded from the Android and Apple app stores. This follows the launch of the world first ChatBanking on WhatsApp service.
This “download your account” feature enables new customers to Absa, to open a Cheque account, order their card and start transacting on the Absa Banking App, all within minutes, from anywhere and at any time, by downloading it from the App stores.
“Overall, this new capability is not only expected to enhance the customer’s digital experience, but we expect to leverage this in our branches, bringing digital experiences to the branch environment and making it easier for our customers to join and bank with us regardless of where they may be,” says Aupa Monyatsi, Managing Executive for Virtual Channels at Absa Retail & Business Banking.
“With this innovation comes the need to ensure that the security of our customers is at the heart of our digital experience, this is why the digital onboarding experience for this feature includes a high-quality facial matching check with the Department of Home Affairs to verify the customer’s identity, ensuring that we have the most up to date information of our clients. Security is supremely important for us.”
The new version of the Absa Banking App is now available in the Apple and Android App stores, and anyone with a South African ID can become an Absa customer, by following these simple steps:
- Download the Absa App
- Choose the account you would like to open
- Tell us who you are
- To keep you safe, we will verify your cell phone number
- Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
- Tell us where you live
- Let us know what you do for a living and your income
- Click Apply.
How we use phones to avoid human contact
A recent study by Kaspersky Lab has found that 75% of people pick up their connected device to avoid conversing with another human being.
Connected devices are becoming essential to keeping people in contact with each other, but for many they are also a much-needed comfort blanket in a variety of social situations when they do not want to interact with others. A recent survey from Kaspersky Lab has confirmed this trend in behaviour after three-quarters of people (75%) admitted they use a device to pretend to be busy when they don’t want to talk to someone else, showing the importance of keeping connected devices protected under all circumstances.
Imagine you’ve arrived at a bar and you’re waiting for your date. The bar is busy, and people are chatting all around you. What do you do now? Strike up a conversation with someone you don’t know? Grab your phone from your pocket or handbag until your date arrives to keep yourself busy? Why talk to humans or even make eye-contact with someone else when you can stare at your connected device instead?
The truth is, our use of devices is making it much easier to avoid small talk or even be polite to those around us, and new Kaspersky Lab research has found that 72% of people use one when they do not know what to do in a social situation. They are also the ‘go-to’ distraction for people even when they aren’t trying to look busy or avoid someone’s eye. 46% of people admit to using a device just to kill time every day and 44% use it as a daily distraction.
In addition to just being a distraction, devices are also a lifeline to those who would rather not talk directly to another person in day-to-day situations, to complete essential tasks. In fact, nearly a third (31%) of people would prefer to carry out tasks such as ordering a taxi or finding directions to where they need to go via a website and an app, because they find it an easier experience than speaking with another person.
Whether they are helping us avoid direct contact or filling a void in our daily lives, our constant reliance on devices has become a cause for panic when they become unusable. A third (34%) of people worry that they will not be able to entertain themselves if they cannot access a connected device. 12% are even concerned that they won’t be able to pretend to be busy if their device is out of action.
Dmitry Aleshin, VP for Product Marketing, Kaspersky Lab said, “The reliance on connected devices is impacting us in more ways than we could have ever expected. There is no doubt that being connected gives us the freedom to make modern life easier, but devices are also vital to help people get through different and difficult social situations. No matter what your ‘connection crutch’ is, it is essential to make sure your device is online and available when you need it most.”
To ensure your device lifeline is always there and in top health – no matter what the reason or situation – Kaspersky Security Cloud keeps your connection safe and secure:
· I want to use my device while waiting for a friend – is it secure to access the bar’s Wi-Fi?
With Kaspersky Security Cloud, devices are protected against network threats, even if the user needs to use insecure public Wi-Fi hotspots. This is done through transferring data via an encrypted channel to ensure personal data safety, so users’ devices are protected on any connection.
· Oh no! I’m bored but my phone’s battery is getting low – what am I going to do?
Users can track their battery level thanks to a countdown of how many minutes are left until their device shuts down in the Kaspersky Security Cloud interface. There is also a wide-range of portable power supplies available to keep device batteries charged while on-the-go.
· I’ve lost my phone! How will I keep myself entertained now?
Should the unthinkable happen and you lose or have your phone stolen, Kaspersky Security Cloud can track and protect your device from data breaches, for complete peace of mind. Remote lock and locate features ensure your device remains secure until you are reunited.