Fake call, deepfake ad and one costly mistake: How to spot banking fraud
A sponsored advert appears in your social media feed featuring a familiar face. The person speaking looks and sounds like Equity Group Managing Director and CEO Dr. James Mwangi, encouraging you to register for a special investment opportunity before the offer closes.
You click. The opportunity looks convincing. The video looks professional. The message creates urgency. You are asked to register and provide some details.
Then your phone rings. The caller claims to be from the bank. Your account, they say, has been flagged and they need your one-time password to secure it.
Two different approaches. One objective: get you to trust the fraudster enough to act.
This is how banking fraud is evolving. Fraudsters are combining convincing technology with psychological pressure to make fake messages, calls and advertisements look genuine. The technology may change, but the trick remains the same: make you trust first and verify later.
When it looks real, don’t assume it is
Fraudsters understand that people respond differently when a message appears to come from someone they trust.
It could be a bank executive in a video, a customer service representative on the phone or a message that appears to come from an institution you know. The conversation may even include details that make the fraudster sound legitimate. Then comes the pressure.
Your account will supposedly be blocked. You must act before an offer expires. Your payment has failed. Your security needs to be upgraded immediately. That urgency is deliberate. Before you act, stop and verify.
If you receive a suspicious call claiming to be from Equity, end the call and reach out to the Bank’s official contact center via 0763,000,000. If you are using an Equitel line, dial 100.
If you see an investment advertisement featuring an Equity executive, do not assume it is genuine simply because the person looks and sounds familiar.
Never give away what protects your account
A caller can sound professional and still be a fraudster. If someone claiming to be from the Bank asks for your PIN, password, OTP or activation code, end the conversation. These are confidential credentials. You should never disclose them to anyone.
Equity will never ask a customer to send money to participate in a promotion, buy airtime to unlock an account or disclose confidential banking credentials over the phone.
When in doubt, do not continue the conversation just because the caller insists it is urgent.
The source of a message
Fraudsters are no longer relying on obvious spelling mistakes or poorly written messages. They use SMS, email, WhatsApp, social media advertisements and websites designed to look legitimate.
A message may claim that your account has been suspended, offer you an investment opportunity, promise a refund or ask you to update your details. Before clicking, look at where the message came from and where the link takes you.
Equity will only contact you via 0763000000. If you are unsure about a message, do not reply to it or click its links. Forward that message to 333.
Targeting ATM
Fraud does not only happen on your phone. At an ATM, a fraudster may try to see your PIN, interfere with the machine or offer to help when your card becomes stuck.
Be cautious if a stranger suddenly offers assistance during your transaction. Shield the keypad when entering your PIN and never allow another person to handle your card. If the ATM behaves unusually or retains your card, report it immediately through official contact center or to the Bank staff if the ATM is near the Bank’s branch
Make verification your first response
The most important habit is simple: pause before you act.
A convincing video is not proof that an investment opportunity is genuine. A caller who knows your name is not necessarily a bank representative. A message that looks like it came from Equity should still be verified if it asks you to take an unusual action.
When something feels urgent, make verification even more important.
Contact Equity through an official channel rather than using the contact details provided in a suspicious message or call.
You simply need to remember three things: Stop. Verify. Protect your information.
For tips on secure banking, visit: https://equitygroupholdings.com/ke/secure-banking-tips/
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