WENDY KNOWLER: Beware of vishing scams. Fraudsters can bypass spam identifier apps
Scammers often impersonate bank phone numbers, but subtle clues, such as slight changes in the name that pops up – like 'Standard.Bank' instead of 'Standard Bank' – can reveal their fraudulent intentions.
Uveka Rangappa, standing in on 702 Afternoons with Relebogile Mabotja, interviews Wendy Knowler, Consumer Journalist and Thabani Ndwandwe, Chief Risk Officer at Standard Bank.
Listen below (skip to 08:40).
Fraudsters are expanding their reach by employing new scamming techniques, such as vishing.
Vishing involves using voice calls and voicemails to obtain sensitive information, with scammers calling individuals while pretending to be from their bank or cellphone service provider, asking for personal information and login details.
What makes vishing particularly concerning, according to Knowler, is that apps like Truecaller sometimes register these numbers as legitimate, failing to alert users that they could be scammers.
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Study the name details carefully.
Ndwandwe explains that scammers often impersonate bank numbers, but subtle clues, such as slight changes in the name – like “Standard.Bank” as one word instead of “Standard Bank” as two words – can reveal their fraudulent intentions.
These scams aren’t limited to phone calls; they can also occur through emails and these are termed phishing.
"There's always small nuances that we tend to find and this is one of the things that they do."
- Thabani Ndwandwe, Chief Risk Officer – Standard Bank
Ndwandwe offers the following tips to help navigate these threats:
- Many banks now have apps that allow you to verify if a call is genuinely from your bank while you're on the line.
- Never share your OTP, password, or CVV with anyone.
Scroll up to the audio player to listen to the interview.