Financial services firm FNB is urging customers to use trusted and secure merchants to avoid being defrauded by merchant fraudsters when shopping online, amid an increase in e-commerce activity brought on by the Covid-19 pandemic.
Chris Labuschagne, chief executive of FNB Card, said the bank has seen a rise in a new fraud modus operandi targeting unsuspecting online shoppers in recent months.
The latest modus operandi involves ‘enumeration’ and ‘account testing’, where online merchant fraudsters use automated scripts or software to attempt transactions or payments.
“Fortunately, our fraud detection measures have been effective in preventing many of these attempts, and we immediately block merchants for this activity. However, consumers need to maintain high levels of awareness as fraudsters regularly evolve their methods,” he said.
Trish Ramdhani, head of fraud at FNB Card, said to help minimise the risk of fraud, consumers should use…