2022-08-12 | Awas Modus

Characteristics of Banking Fraud That You Need to Beware of

There are many names for people who commit financial crimes, such as fraudsters, scammers, hackers, etc. They are individuals or a group of people who perform illegal activities for personal gains. The acts can happen anywhere, including in banking institutions.

Technological developments open the rift through which a group of people is motivated to commit cybercrimes. The types of crimes vary, including data breaches, phishing, skimming, carding, and many more.

The crimes that fraudsters commit can be small matters unnoticeable to the victims but can cause a huge financial loss in the future. That’s why we must stay alert and recognize the characteristics of fraud to avoid falling victim to it.

Characteristics of Banking Fraud Modes

Here are the characteristics of BCA banking fraud:

  1. Pretending to be a BCA official
  2. To make their act convincing, fraudsters usually pretend to be BCA officials. There are many different ways they do it, including creating fake social media accounts resembling BCA official accounts or calling through a number that looks similar to those of BCA. They will pretend to be a customer service officer or a BCA official. For this reason, we must always ensure the information comes from an official BCA account or contact. Don’t easily trust individuals claiming to be BCA officials who are acting suspiciously.

  3. Psychological Manipulation (Social Engineering)
  4. Social engineering is a method used by fraudsters to psychologically manipulate their victims so that they would follow instructions given to them. Usually, the fraudsters will lead their victims to follow the guides as instructed, such as opening a link requesting sensitive information. One example is by inducing panic. The fraudsters will report an alert on suspicious transactions made on the victim’s accounts, rendering them thoughtless. They will then take advantage of the situation to offer help and trick them into giving away sensitive information. 

    Another example is when fraudsters tell their victims to win a prize. To further lure them, the fraudsters also usually advertise BCA special programs with lucrative offers, such as special programs, discount vouchers, prizes, cash back, promos, etc. This way, victims usually fall for the trick, and that’s when the fraudsters ask for sensitive information to hack their victim’s accounts.

  5. Requesting Sensitive Information for Accounts and ATM Cards
  6. Generally, fraudsters commit crimes to take over bank accounts, steal the money, and perform unauthorized transactions unbeknownst to the account owner. However, they need the victim’s banking information to carry out these acts. So, if you come across an individual asking for confidential banking data such as ATM card numbers, PINs, OTP codes, CVV/CVC, KeyBCA Appli 1 & 2, etc. you should suspect that they are fraudsters.

Read also: Beware of the Latest Fraud Modes, Do These 3 Things

Online crime or fraud has become difficult to avoid or even recognize. For this reason, we must stay alert and keep our banking information confidential.

If you think you’re a victim of fraud on behalf of BCA, contact Halo BCA immediately at 1500888 (without any prefixes), WhatsApp Bank BCA 08111500998 (with a green badge), or via the haloBCA app to secure your banking app. Find out how to be safe at bca.co.id/awasmodus.

Share this information with your family and friends to avoid falling victim to scams!