27th January 2025, Kathmandu
Standard Chartered Bank has introduced a detailed guide aimed at empowering customers with essential knowledge and practical tools to protect themselves from the growing threat of fraud in the digital age.
Secure Your Online Transactions
The guide, available to all customers, offers a thorough overview of common fraud tactics and provides actionable steps to safeguard personal and financial information.
Recognizing and Responding to Fraudulent Activity
The guide emphasizes the importance of vigilant account monitoring. Customers are encouraged to regularly check their account statements and transaction history for any suspicious activity. The guide also highlights the importance of recognizing unusual activity, such as unexpected delays in online banking access, suspicious emails or phone calls, and any requests for personal information that seem out of place.
Staying Safe Online
Standard Chartered’s guide offers valuable tips for online safety, urging customers to verify the authenticity of websites before completing any transactions. It advises caution when encountering deals that seem too good to be true, such as heavily discounted items or limited-time offers.
Always verify the source of any digital arrest warnings or legal notices received. Contact relevant authorities directly to confirm their legitimacy. Report any suspicious online activity, such as phishing emails or attempts to access personal information, to the bank immediately.
Understanding Common Fraud Schemes
The guide delves into various fraud schemes, including impersonation scams, where fraudsters pose as trusted individuals or institutions to deceive victims. It also addresses the growing threat of Business Email Compromise (BEC) scams, targeting businesses with fraudulent emails that request payment detail alterations.
Additionally, the guide highlights investment scams, advising customers to remain cautious of investment opportunities that promise unrealistic returns or use high-pressure sales tactics. It also addresses invoice scams, where fraudsters send fake invoices requesting payments to fraudulent accounts.
Protecting Yourself from Specific Scams
The guide provides actionable advice on how to protect yourself from advance fee scams, where victims are asked to pay upfront fees for promised services or prizes. It also offers tips on handling romance scams, where fraudsters exploit emotional connections to deceive victims into sending money.
Moreover, the guide warns about fake emergencies, urging customers to verify the legitimacy of any urgent requests for financial assistance. It also cautions against “too-good-to-be-true” deals, advising customers to research online retailers thoroughly and be wary of websites with limited or suspicious reviews.
The guide further highlights the importance of being cautious with unusual payment methods, such as bank transfers, when shopping online. It recommends purchasing gift cards only from authorized retailers and being alert to unexpected delivery notifications or emails. Additionally, customers are encouraged to research charities before making any donations to confirm their legitimacy.
Protecting Your Personal Information
The guide stresses the importance of strong password security. Customers are encouraged to create unique, complex passwords for all their online accounts and to secure their devices with up-to-date antivirus software.
It also offers tips for securing home networks, advising the use of strong passwords for Wi-Fi, and exercising caution when connecting to public Wi-Fi. The guide emphasizes the need for strong password protection for mobile devices and keeping them updated with the latest security patches.
Finally, the guide urges customers to limit the personal information they share on social media platforms.
Standard Chartered Bank’s Commitment to Customer Security
The bank continues to implement robust security measures to protect customer accounts, including encryption, firewalls, and 24/7 monitoring of online activity. Two-factor authentication is used for sensitive transactions, and customers can set daily transfer limits for added security.
Reporting Security Concerns
The guide encourages customers to report any suspicious activity, such as phishing emails or unauthorized access attempts, to the bank immediately. For urgent matters, customers can contact the bank directly using the number on the back of their card.
For more: Secure Your Online Transactions
