Stanbic warns of debit card fraudsters

Stanbic warns of debit card fraudsters
Published: 29 September 2017 (702 Views)
STANBIC Bank has warned members of the public to guard against falling victim to debit card fraudsters.

Acting head of personal and business Banking, Mr Patson Mahatchi said his bank has assumed responsibility to ensure that all debit or credit card holders were aware of the risks of card fraud.

"It is our duty as a bank to sensitise the general populace of Zimbabwe on the potential threats out there and to educate them on how to avoid falling victim to the cons that have come alive following the increase in the use of plastic money," said Mr Mahatchi.

He said that every credit or debit card holder needs to protect their card details, which are not limited to the PIN but also include even the card number.

"There are a lot of factors involved in the security of card details such as covering your PIN when making a POS payment, alerting the bank that your card has been retained by the ATM before you leave the ATM," he explained.

Mr Mahatchi also said that it was not recommended for two people to share the same debit card in as much as they share an account.

"We urge everyone to avoid sharing their PINs with anyone else, even their spouse. It is advisable for couples to acquire two different debit cards for the same account in order to create a secure system of funds sharing and usage," he said.

Stanbic Bank has since put in place an authentication security feature for online purchases, which requests for confirmation of identity by the user through the use of one time passwords thereby safeguarding the customers' funds from unintended usages.

"Verified by VISA is a security feature we are calling 3D Secure and have added onto our cards as it helps deal with issues of card fraud when it comes to online shopping. Customers will be required to input a password that will be generated by the site and sent to the mobile number or email address registered with the bank against the account," said Mr Mahachi.

He said as a bank, Stanbic has also taken measures to ensure that their cards can transact securely across the globe.

"All our cards are Europay, Mastercard and VISA (EMV) compliant and acceptable for electronic payments in other countries.

We then highly recommend all our travelling customers to inform the bank of their intended travel through their relationship managers as a way of enabling the bank to monitor transaction activity for security purposes," said Mr Mahachi.



- chronicle

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Bushiri arrest story an internet hoax

by Maynard Manyowa | 20 January 2018 | 110 Views

Consumers raise concern over high levels of Service Charge

by Givestar Kamuzonde | 20 January 2018 | 99 Views

Sex workers bash peeping Tom

by Simbarashe Sithole | 20 January 2018 | 143 Views

Britain's female prime ministers sensible, says Mnangagwa

by Staff Reporter | 20 January 2018 | 139 Views

Mugabe wanted Mnangagwa assassination to look like suicide

by Staff Reporter | 20 January 2018 | 180 Views

Grace Mugabe's 3 supercars crash in Botswana, badly damaged

by Staff reporter | 20 January 2018 | 279 Views

Dabengwa named in new Eskom board

by Staff reporter | 20 January 2018 | 154 Views

How to 'unsend' an accidental WhatsApp message

by Staff reporter | 20 January 2018 | 161 Views

Former Zimbabwe expert appointed SABC COO - reports

by Staff reporter | 20 January 2018 | 102 Views

Zimbabweans urged to rally behind Mnangagwa's 'coup' govt

by Staff reporter | 20 January 2018 | 93 Views

Overcoming Temptation

by Tendai Tagarira | 20 January 2018 | 79 Views

Matebeles too alert to fall for the so called "New Era"

by Wilson Mahlafuna and Khohliso Maqhoba | 20 January 2018 | 89 Views

Build Zimbabwe launches manifesto

by Staff reporter | 20 January 2018 | 83 Views

'Bloody Zanu-PF, MDC primary elections loom'

by Staff reporter | 20 January 2018 | 82 Views

Ex-CIO agent takes DG to court over dismissal

by Staff reporter | 20 January 2018 | 107 Views

Mushowe to meet his match in 2018 elections

by Staff reporter | 20 January 2018 | 96 Views

Why did Rita Makarau resign from ZEC?

by Staff reporter | 20 January 2018 | 119 Views

Tsvangirai mourns Roy Bennett

by Staff reporter | 20 January 2018 | 87 Views

Mthwakazi threatens Mnangagwa's ZRP over rallies ban

by Staff reporter | 20 January 2018 | 61 Views

Gutu threatening to derail MDC Alliance

by Staff reporter | 20 January 2018 | 75 Views

Zanu PF youths call for Mohadi's wife's ouster

by Staff Reporter | 20 January 2018 | 87 Views

Cholera hits Zimbabwe, 4 die in Chegutu

by Staff Reporter | 20 January 2018 | 62 Views

WATCH: 6 people burnt beyond recognition in kombi crash

by Simbarashe Sithole | 20 January 2018 | 169 Views

Dont blame Trump, blame African leaders!

by Albert Madya | 20 January 2018 | 89 Views

Mzembi takes a rest from politics

by Staff Reporter | 20 January 2018 | 117 Views

'Tsvangirai risks a disgraceful exit'

by Staff reporter | 20 January 2018 | 60 Views

Sangoma 'cures' cancer

by Staff reporter | 20 January 2018 | 62 Views

Doctors threaten to go on strike

by Staff reporter | 20 January 2018 | 51 Views

Mwazha pastor gets 11 years for rape

by Staff reporter | 20 January 2018 | 52 Views

Soldiers, police for vendors blitz

by Staff reporter | 20 January 2018 | 49 Views

'New Zimbabwe is coming'

by Staff reporter | 20 January 2018 | 60 Views

Mnangagwa's police ban MDC Alliance rally

by Staff reporter | 20 January 2018 | 58 Views

Bosso chairmanship race takes a new twist

by Staff reporter | 20 January 2018 | 81 Views

'Zimbabwe to honour property rights'

by Staff reporter | 20 January 2018 | 36 Views

Sir Wicknell now a dad

by Staff reporter | 20 January 2018 | 40 Views

Mnangagwa buys Tsvangirai

by Staff reporter | 20 January 2018 | 57 Views

Gutu, Biti tussle for Parliament seat

by Staff reporter | 20 January 2018 | 61 Views

Mnangagwa invites UN, EU

by Staff reporter | 20 January 2018 | 57 Views