AS CHEAP CONNECTIONS in Africa to the world wide wibble have grown, so have the number of Internet scams originating from the continent, insecurity experts claim.
According to InfoWorld, while Nigerian frauds have been targeting the outside world, increasingly the scammers are looking for soft targets inside the African banking industry.
Phishing attacks are mainly occurring in South Africa where online banking is common, while mobile money theft is common in other parts of Africa where Internet penetration is still low. As a result of the increase, South Africa's Absa bank, the largest in Sub-Saharan Africa, announced Tuesday that its Internet banking customers can download security software to curb cyber attacks.
South African consumers are exposed to more phishing attacks because it is the only Sub-Saharan country with well developed online banking services. But now other countries are starting to be targeted by African scammers.
Now that broadband costs are coming down in places like Kenya, a new breed of scammers has been using every technological means to squeeze cash out of people.
Fraudsters in East Africa are using mobile phone based tricks in which subscribers receive SMS messages informing them that they have won money and asking them to transfer funds by phone as "processing fees".
Criminals have been using Tanzanian or Ugandan telephone numbers, which work all across the region, and African mobile phone operators and authorities are being slammed for not arresting anyone.
Some observers think these mobile scammers may be the same people who were behind the infamous "419" email scams originating in Nigera that got into a different line of business after that country cracked down on those operations.
Coppers claim that mobile crime is harder to detect because most of the criminals use pre-paid phones that can be bought anonymously. µ
Banking hacking is common to every country. Not that it's not only in an online banking scheme but also the fraud happen in every media for fraudulent act like spam e-mail, fake sms, using commercial advertising and fake announcement in the ATM or robbing the people bank account with hypnotize in ATM that they will influence the victim to reveal their ATM card password.
Looks like the bank customer must aware for fraudulent act.
Going by the previous poster...no it does not.
Another fine product of our excellent education system.
The "Processing Fees" are probably less that the normal bank charges anyway.
You get charged for:
1) Opening an account.
2) Having an account.
3) Internet banking (You are forced to have phonebanking and pay for that too)
4) Having a debit card which you have to have.
5) Depositing money.
6) Withdrawing money.
7) Lost card insurance.
8) Requesting a statement.
9) Receiving a statement in the mail.
10) Email, fax, Text message to confirm payments.
11) Internet banking (Online statement requests and balance enquiries)
12) Every single transaction.
Oh and then you get taxed on top of that.
Why aren't they this clever at governing countries
CStr
That sounds harsh. I live and work in a bank in Norway. The competition between banks here is fierce in that they all try to be as affordable as possible. As a result of that you pay nothing at all for opening an account, having several cards withdrawing money, depositing money, internet banking, transactions using the internet bank which is very fast and easy to use. No fee for phonebanking.
All the essentials and a little more is completely free and easy to use.
I do however tax 32% of my income.