Eswatini Bankers Association reveals that the public remains susceptible to fraudsters through mobile phones and email. The association cautions emaSwati to be careful this festive season as this is when most cases of fraud take place.

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By Ntokozo Nkambule

The Eswatini Bankers Association (EBA) has revealed that it witnessed an increase in fraudulent investment scams in the country compared to the previous year.

This was disclosed by the EBA Chairperson, Mbali Sibanyoni during the official launch of this year’s Eswatini Awareness Cybersecurity Month 2022. The seasoned banker said their reports indicate that there is an increase in investment fraud and proof of payment scams. She said fraudsters normally trick the public through email and telephone.

Sibanyoni said as an association they have received an increased number of reports from customers who have been susceptible to fraudulent investment scams. She advised customers to always report such acts and any suspicious transactions as they occur.

The EBA Chairperson noted that as a result of the increased fraudulent activities and cybercrime, they have decided as an association to embark on an educational drive in all regions of the country. “Since the Central Bank of Eswatini and EBA announced the stoppage of cheques, we have met with schools to educate them on cybercrime as they use online banking. Our aim is to reach all business people, students, and tertiary institutions by the end of the festive season” she noted.

She concluded by cautioning customers to be careful during the festive season, as this is when most people are distracted and pay less attention. The Chairperson said the festive season is when they receive the biggest cases of fraudulent activities.

Precautions That Customers Can Take To Ensure Their Funds Aren’t Fraudulently Stolen

  • Create unique passwords for your online banking accounts.
  • Use a secure browser when shopping online. Only shop with shops or stores you trust.
  • Review your transactions on a frequent basis.
  • Report any questionable charges as soon as you spot them.
  • Never give financial or personal information over the phone to someone that initiated the call.
  • Be careful of whom you share your login information with, even if it is a close friend or relative.

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