Before you press send: Simple way to protect your money from fraud
You are about to pay a supplier when an email or an SMS arrives asking you to use a new Equity account number because their usual account is supposedly unavailable.
The invoice looks familiar. The supplier’s name is correct. The amount is exactly what you expected to pay.
There is just one unusual thing: the account details have changed.
This is how payment fraud often works. Fraudsters do not always need access to your bank account. Sometimes, all they need is to convince you to send the money to them.
They can impersonate your supplier, landlord, lawyer, colleague or business partner. They may send an email, call you or contact you through a messaging platform. The request may look genuine, but the account receiving your money belongs to the fraudster.
Before you send money
If you regularly make payments from your Equity account, especially for business, rent, school fees, suppliers or other significant expenses, make verification part of your routine.
As an Equity customer, you have an important opportunity to verify who you are paying before completing a transaction.
When you are paying an Equity account using any mobile network, the recipient’s name is displayed before you complete the transaction. Use that moment to check that the name matches the person or business you intend to pay.
If the name is different, do not proceed. Stop and confirm the payment details with the intended recipient through a trusted contact.
For Equitel customers, Equity’s Hakikisha provides an additional confirmation step when sending money or making a payment. A prompt displays the recipient’s name, allowing you to verify the details before completing the transaction.
If everything is correct after verification, type 1 to send. If the details are not correct or you are unsure, type 2 to cancel. That simple pause can help prevent your money from going to the wrong person.
The goal is simple: never let the pressure to complete a payment become more important than confirming where your money is going.
Protect the information that protects your account
Payment fraud can also begin with criminals trying to obtain your personal or banking information.
Never share your Equity PIN, password, OTP or activation codes with anyone. A person claiming to be from the bank should not ask you to disclose these confidential details. Equity will only call you via one number 0763000000.
If you lose your phone, SIM card, bank card or identification document, report it through the same number immediately or dial 100 if you are using an Equitel line.
What if you suspect fraud?
If you have made a payment and later realise that the request may have been fraudulent, act immediately. Call Equity’s official contact center via 0763000000 or by dialing 100 if you are using the Equitel network.
If you receive a suspicious SMS or phone number, you can forward it to 333 free of charge. Most importantly, make verification a habit. Before you press send, look at the name.
For tips on secure banking, visit: https://equitygroupholdings.com/ke/secure-banking-tips/
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