Absa urges vigilance following festive season scams
Tuesday, January 23, 2024 | 390 Views |
ABSA bank
Sources at the blue chip listed bank said unidentified scammers had employed different tactics in an attempt to defraud the bank’s customers over the busy festive season.
Such tactics include vishing, phishing, social engineering and card fraud. Vishing is a scamming attack conducted over the phone with the criminals attempting to secure account information, while phishing involves fraudulent emails, text messages, phone calls and other tricks designed to make customers reveal private account information.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...