FNB warns of screen scraping scam targeting business — Scam Guards


Businesses are often unaware that by giving a third-party or software programmes access to their financial information, they are potentially being exposed to the risk of screen scrapping.

Screen-scrapping is part of a process when purchasing online and are prompted to provide your internet banking login details to enable the payment, to a site which is not your banking website.

You may not be aware that in the process a third-party logs onto to your Internet Banking using the details you provided to make the payment to the store/merchant on your behalf which exposes you to potential risks of fraud, financial crime and data privacy risks.

In 2020, the South African Reserve Bank (SARB), the Payment Association of South Africa (PASA) and the Financial Sector Conduct Authority (FSCA) issued a joint statement warning consumers about the risks associated with instant online EFT (electronic fund transaction) payments, particularly in relation…

Read full article at scamguards.org