There have been increasing instances of fraudsters impersonating financial services providers to get hold of their clients’ personal information via SMSs, fake websites, emails, and phone calls.
In this vein, phishing SMSs and emails are being sent by fraudulent third parties to a random recipient list. The SMS attempts to trick clients into believing that they have a claim, or that their security has been compromised, and requests the recipient to contact a specific number (that does NOT belong to an insurance or investment company. The fraudster then tries to convince the recipient to disclose personal information such as usernames, passwords, OTPs etc. to gain access to their accounts.
Some of the red flags to note in the fraudulent SMS / email:
- Not addressing the client by name.
- Incorrect grammar.
- Incorrect company contact number.
- Creating a sense of urgency for the recipients to call back.
Herewith some tips to prevent you falling victim to this and other scams:
- Analyse the accuracy of the spelling and grammar in a suspicious email or SMS.
- Check if you are addressed directly in the email or SMS.
- Avoid clicking on links or downloading attachments from unfamiliar sources. Before clicking on any links, hover over the link to see the address. If it differs from the URL text in the email body, it may be a phishing threat. Rather type URLs directly into the browser.
- Use the anti-phishing add-ons included in antivirus software.
- Do not disclose any personal information over the phone, including passwords or OTPs.
If you need to contact an insurance or investment company, contact your financial planner at EFS or use only the company’s contact details on their website.
We urge you to be always vigilant.
Source: Allan Gray. Edited by Anton Schutte.