Consumers frequently ignore the simple steps they can take to protect themselves from electronic fraud.
For instance, do you use your birth dates as the PIN for everything from your house alarm and cellphone, to your banking account?
By using the same PIN number across a range of different accounts or mobile electronic devices, you increase the risk of outside access to confidential information.
Here is a list of fundamental steps you can take to protect yourself from electronic fraud:
Personal Identification Numbers (PINs)
* Keep your PIN secret and never divulge it;
* Keep your PIN separate from your bank cards and preferably memorise it for total security; and
* If for any reason, you feel your PIN has been compromised, you should immediately change the PIN or cancel your card by calling your bank's hotline.
Automatic Teller Machines (ATMs)
* Constantly be on guard against suspicious characters lurking at ATMs;
* Do not accept offers of assistance;
* Do not use remote or secluded ATMs;
* Do not use ATMs alone at night;
* Never enter your PIN until requested to by the ATM. This is particularly vital at ATMs and branches where fraudsters can look over your shoulder while you are drawing cash. Your card could also be switched while you are being distracted;
* If you feel unsafe, or even rushed, at an ATM walk away and find another one;
* Do not be distracted, intimidated or rushed during your transaction;
* Do not place your card into the card slot if the ATM is closed;
* If the ATM's card slot is obstructed, or if you have difficulty inserting your card, do not force your card into the card slot. Leave the area immediately;
* If for some reason you cannot proceed with your transaction, cancel your transaction;
* Stand close to the ATM. Place your hand over the card slot so that you can retrieve your card as soon as it emerges; and
* Ensure that you take your card and cash after you have finished your transaction.
Microlending
* Do not take a loan from a microlender who insists on retaining your bank cards and PINs as security. This is illegal; and
* Do not give away your PIN as surety for a loan. This is tantamount to giving other people 24-hour access to your money.
Internet transactions
* Make sure you log off after banking on the internet;
* Never vacate a computer on which your password has been entered. It is also better not to "save" your password on the computer so that you don't have to enter it next time;
* Internet banking in public areas, such as internet cafes, is particularly hazardous and should be avoided;
* Always check your monthly statements and report unauthorised transactions to your bank by phone and then in writing. Before reporting the transaction, check the validity of the transaction. Bear in mind that if you have ordered goods over the internet, the trading name on your statement may be different from what appears on the website;
* The web address (URL) of a secure site starts with "https", not "http";
* The padlock symbol at the bottom right of the screen also denotes that you are on a secure site. To verify the site's authenticity, click on the padlock and open the merchant's digital certificate;
* When making purchases over the internet, don't divulge more information than necessary. You should not have to provide more than the following: Credit card number, its expiry date, the three-digit number on the signature panel and the card type;
* Make print-outs of the online transaction receipt for future reference;
* Always read the fine print so you are aware of additional or recurring costs, such as subscriptions; and
* Report suspicious websites to the bank that issued your credit card.