Protect yourself from financial scams and fraud

■ By Veronica Amaral

THE Bank Association of Namibia has urged individuals and companies to remain cautious and adopt cybersecurity precautions in response to the ever-changing landscape of cyber threats.

According to Bankers Association of Namibia Chief Executive Officer (CEO) Brian Katjaerua, phishing emails are one method used to fool individuals. “This is the dishonest practice of sending emails that appear from a recognised or trustworthy sender to compel the receiver into disclosing confidential information about themselves.

“When an email is carefully investigated, it usually comes from an unknown sender, even though a fraudulent email may look to be from your bank, acquaintance, or workplace,” he said. Katjaerua said scams are successful because they mimic the real thing and startle you when you least expect it. He warned,

“Another type of fraud involves con artists posing as bank employees and telling you that you need to check in because you have broken your account’s terms and conditions.”

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