Attorney Michael de Broglio on: South Africa, Law, Politics, Attorneys, Sport, Photography, Technology, Gadgets, Media, Crime, Road Accidents Fund,
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It is very reassuring, with all the fraud we are all exposed to now, that the banks try their very best to stay ahead of the curve all the time. Integrating your banking logins, together with your phone number and SMS’ing you is another way of protection to us as consumers of banking products. Nedbank, for example, when you are transacting on the Internet, will often send you a code, via SMS, which you have to put into the website before a transaction can go through.
I received the SMS in the picture alongside this article, the other day when I was not transacting on the Internet, and I immediately called Nedbank. I will get to the happy ending first and that is that somebody, in the UK, tried to put through a transaction of £1 035,00 on my credit card to buy computer parts and because I received this SMS and notified Nedbank, the transaction did not go through and they blocked my card and immediately issued a new one which was available for my collection less than 36 hours later. The only part of the story which is not complimentary to Nedbank is when I phoned the number, which you can see in the SMS, it did not have an option to speak to anybody and you have to choose between four different options – not one of them which has anything to do with reporting a fraudulent transaction on the Internet or on a credit card. I am lucky that I have a personal banker and was able to e-mail him, although of the three people that I e-mailed one wrote back, after another person had already confirmed that it was a fraudulent transaction and given me the details of it, some two days later to indicate that they could see nothing wrong!
So, it was a happy ending, but we really got left with one out of three people receiving an e-mail attending to the necessary and clearly knowing what was going on. I am going to forward this blog link to the people at Nedbank concerned and it will be interesting to see if any of them make any comment or have any input on the article.
Posted by Michael de Broglio on Monday 22-Oct-12
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Comments
cornelie said:
on Tuesday 06-Nov-12 02:47 PM
Fraud is taking this world over you must watch each and every move you make, and you must watch your bank account like a watch dog as it is so easy for someone else to take your hard earned money out if your account. Thank goodness for the OTP sms. But not everyone is that lucky.
Genevieve said:
on Monday 22-Oct-12 05:21 PM
Very lucky. One can never be too safe. Rather pay that little bit extra a month, but when something like this happens, you know you're covered. It is scary how fraud has increased and the fact that one has to go to extreme limits to protect yourself, but big up on the security systems that are in place.
cherise said:
on Monday 22-Oct-12 01:36 PM
I must say I bank with Nedbank and from the get go have been very impressed with their service delivery. They are on the ball and always have the best options available to their customers.
realy impressed.
Lourien said:
on Monday 22-Oct-12 12:58 PM
The Banks are very competitive with all their New Services and Precautions of how they protect their clients. Glad to see they are going through all these precautions to keep your money safe, at the end of the day it makes a big difference to your Bank Account.
Joyce said:
on Monday 22-Oct-12 12:25 PM
I think the bank sms notifying system is a good idea makes bank account holder to be aware if something happening from the account
Robyn said:
on Monday 22-Oct-12 12:18 PM
At least you had a happy ending, a lot of people don't. That reminds me, I need to go to the bank to change my cell number. But the systems they put in place are pretty cool, I'm also with Nedbank.
Henrietta said:
on Monday 22-Oct-12 11:57 AM
I totally agree with Zandra.That's bad, but then again how save are you? Some odd years ago we were hijacked - id's and drivers license were in the car. 2 years ago I phone to look at my credit record and heard that I have a FNB Loan ..... which I knew nothing about. Went to FNB to sort this out and the photo on the copy of the id FNB has is a picture of someone else. I left my phone numbers for FNB to contact me as soon as this was sorted. I then started receiving calls from Lawyers telling me that my account is in arrears and that I need to pay. I then emailed an affidavit, copy of my id and Birth Certificate to the lawyers. The other day I pulled my credit report and saw that I have a default and the default is the one and only FNB Loan….. So no matter what, criminals is way too clever sometimes.
Kaylene said:
on Monday 22-Oct-12 11:36 AM
I am just as impressed with Nedbank's sms,etc notifications. The internet one is the decline or accept one, if someone tries to put through a tansaction on your account via internet banking, you can either accept or reject the transaction via sms within seconds or it gets declined automaticaly. I also have a problem with their customer service lines, either you through to the wring department and then have to hold for another one.
salomie said:
on Monday 22-Oct-12 11:34 AM
I am also happy it worked out the way it did. this has also happend to me, and i have to say FNB has done an amazing job sorting it out for me.
tanith said:
on Monday 22-Oct-12 11:31 AM
Wow, that was a close call.
Good thing the "notify me " service was activated on the account.
It so important to keep our accounts etc safe nowadays, these things could happen so quickly.
zandra said:
on Monday 22-Oct-12 11:31 AM
can you believe it? you are so lucky that atleast someone responded, imagine how far it could've gone if everybody kept on saying that nothing is wrong....people don't really care about someone elses business even though they are there to help us!!
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
