Stay One Step Ahead of Fraud: Protect Your Finances This Festive Season

The festive season is here, bringing joy, celebrations, and increased financial activity. However, it also attracts heightened risks of fraud and scams as cybercriminals exploit the season’s busy nature to target unsuspecting individuals.

Take James, for example—a regular bank customer who recently experienced a close call with fraud.

James received a call from someone claiming to be a bank representative. The caller informed him of “suspicious activity” on his account and urgently requested him to dial a certain number and key in his PIN and online banking password to “secure” his funds. The caller sounded professional and even shared general details about James’ account, making the request seem credible.

Fortunately, James remembered his bank’s frequent security alerts and refused to share his details. He immediately hung up and reported the incident by calling the official customer service number listed on his bank’s website.

The bank confirmed it was a fraud attempt and advised James to change his password as a precaution. Thanks to his vigilance, James avoided financial loss and enhanced his account security.

Fraudsters continue to find ingenious ways to steal money. To protect yourself:

At Equity, we have invested heavily in securing your account and supporting our customers. If you’re using Equity Mobile App, Equitel lines, or *247#, keep the following security tips in mind:

·       Do NOT engage fraudsters on calls or SMS—Equity will only call you from 0763 000 000.

·       Do NOT share your PIN, Password, or OTP with anyone, including family or friends.

·       Do NOT key in instructions you are given on phone. Fraudsters will issue you with various instructions to do on your phone and you may think that because the caller has not asked for a PIN, they are trustworthy. DO NOT ENGAGE people who call you purporting or pretending to be calling from Equity. If the call is not from 0763 000 000, then it is not from Equity. KATA SIMU 

·       Do NOT give your phone or laptop to strangers, even if they claim to represent telcos or other service providers or even to confirm purchases or sales.

·       Do NOT share personal details like your account number, CVV, ID number, or date of birth.

·       Do NOT share your bank statement online or on social media.

·       Do NOT use public Wi-Fi for online or mobile banking.

·       Do NOT click on suspicious links sent via email or SMS.

·       Do NOT leave your phone with your children as they might be called by Fraudsters and asked to key in certain information on your phone and you find yourself losing your funds.

·      Report any suspicious numbers or SMS lines to 333 for FREE

Remember: Stay Alert, Stay Secure. Secure your transactions today! Protect yourself and your loved ones from fraud this festive season. To learn more visit: Secure Banking Tips | Equity Bank Kenya