Social engineering (soceng) fraud in financial services continues to occur. It is important to continue to educate the public about this issue to make them smarter and reduce the number of victims because public trust is key to the banking business.
To increase public literacy in the face of these issues, PT Rintis Sejahtera (Jaringan PRIMA) collaborate with BCA to hold a discussion event “PRIMA Talk: Gracefully Rebuff Online Social Engineering Fraud” or “PRIMA Talk: Tolak dengan Anggun Penipuan Online Bermodus Social Engineering”
Held on Wednesday, 08 March 2023, at Senayan City, Jakarta, the offline discussion was attended by participants from various national media.
Attending the event was Wani Sabu (Executive Vice President of PT Bank Central Asia Tbk) and Suryono Hidayat (Marketing Director of PT Rintis Sejahtera) as keynote speakers. Acting as moderator was Prof. Eko Indrajit, the rector of Universitas Pradita and an expert in Information Technology.
Tips to Fight Against Social Engineering (soceng)
Social engineering refers to communication efforts made by fraudsters to persuade victims to do as they are told.
According to Wani Sabu, soceng modes we often encounter, especially in the banking world, include information on transfer rate changes, offers to become priority customers or get a credit card limit increase, blocking suspicious transactions, fraudulent links or apk files and offers to buy products at low prices.
“In carrying out their actions, fraudsters pretend to be official employees and deliver the victim’s information as if it is very important. The methods vary, ranging from calling, sending messages through WhatsApp groups, and sending links from social media and fake emails. When they feel they have the victim’s trust, they will continue to encourage the victim to fill in the form link with their data, such as PIN, OTP, and password”.
From right to left: Wani Sabu (Executive Vice President of PT Bank Central Asia Tbk), Prof. Eko Indrajit (Rector of Universitas Pradita/Information Technology Expert), and Suryono Hidayat (Marketing Director of PT Rintis Sejahtera).
He then shared tips and tricks to deal with social engineering.
- First,never share sensitive information such as ATM and Credit card numbers, CVV/CVC, mobile phone numbers, PINs, or Password, to anyone, and do not recklessly disclose your credentials such as place and date of birth, ID card number, mother’s name, etc.
- Second, do not pick up the phone from suspicious numbers and click on any links they sent, especially those directing you to websites with no padlock icon or don’t use HTTPS.
- Third, refrain from being drawn into buying and selling offers from questionable accounts. This is based on the findings of BCA customers’ complaint data that social engineering also often occurs in the form of online sales of branded cellphones,clothes, and bags at very low prices.
Educational Collaboration to Build Trust and Sense of Security
At the same event, Suryono Hidayat added that combating social engineering requires active participation from financial institutions and switching companies to help provide a sense of security to the public using financial services.
“As a switching company that bridges one bank to another, as well as between banks and payment systems, the PRIMA network helps provide security to the banks and payment systems. Therefore, we have a Fraud Detection System that monitors and alert any unusual transactions. Furthermore, the PRIMA Network also intensifies socialization and education on the importance of maintaining the confidentiality of personal data.”
On the BCA side, according to Wani Sabu, among other measures, BCA has strengthened its IT security infrastructure to ensure no customer data is hacked, instilled anti-fraud values in all BCA employees, actively cooperated with the authorities to find fraudsters, and openly and continuously educated customers/the public to combat social engineering.
"Back then, if there was a case, it should not be exposed because they were worried that customers would be afraid. Now, the culture has changed because customers choose banks that are responsible, and transparent in sharing education, press conferences and releases, and admit if something happens. That is how customer trust is established. They feel safe and comfortable being part of the BCA family."
BCA is keen to educate its customers on anti-fraud to improve their overall banking experience. BCA wants customers to feel cared for, which will increase long-term loyalty. This is especially important in the banking and finance industry where trust, confidence, and credibility are paramount.
At the end of the event, Prof. Eko Indrajit concluded that social engineering first appeared in “mama minta pulsa” (a fraud mode where fraudsters send a text message pretending to be the parent and ask for a phone credit top-up) and transformed to date. Fraudsters are getting smarter, so we need to be smarter, too.
This is the reason why we must continue to promote education and literacy on online fraud modes such as “PRIMA Talk: Tolak dengan Anggun Penipuan Online Bermodus Social Engineering”