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PROJECT: KNOCKS AND SCAMS - PHISHING, SMISHING AND VISHING

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BANKS ISSUE WARNINGS ON INCREASING DIGITAL WALLET SCAMS -

PHISHING, SMISHING AND VISHING.


Specialised Security Services has regularly warned the public against digital wallet scams.

Banks have also taken the initiative to educate and safeguard their customers.


They have recently cautioned their customers about the growing threat posed by cybercriminals

that exploit individuals' limited understanding of digital wallets.

These criminals are leveraging the complexity of modern payment systems to deceive clients,

not by exploiting security gaps in cards or wallets, but through sophisticated social engineering techniques.

 

DEFINITIONS:


  • Phishing: fraudulent e-mails and websites intended to steal data.

  • Smishing: fraudulent text messages intended to trick you into revealing data.

  • Vishing: fraudulent phone calls that trick you into revealing personal information.

 

SOCIAL ENGINEERING TACTICS:


  • Cybercriminals increasingly use phishing and smishing tactics to trick consumers into divulging sensitive information.

  • Phishing involves creating fake emails or websites that collect personal details such as login credentials, passwords, PINs, card details, and ID numbers.

  • Smishing involves sending deceptive text messages that appear to come from reputable institutions, urging recipients to disclose sensitive information.

 

MODUS OPERANDI:


  • Once they obtain the necessary details, scammers load physical card information—like the card number (PAN), expiry date, and Card Verification Value (CVV)—into their own digital wallets.

  • This process is similar to making an online payment, where card details are entered, and a one-time password (OTP) is used to confirm the transaction.

  • Cybercriminals exploit this similarity to register their devices as digital wallets on their victims' accounts.

  • Although the wording for online transactions and digital wallet OTPs may vary, the user may not notice this difference.

  • The OTP will be used to verify the addition of their debit or credit card to a completely separate digital wallet.

 

RECOGNISING AUTHENTIC COMMUNICATIONS:


  • It must be emphasised that banks and, for that matter, SARS, or any other legitimate organisation, will never ask customers to share their OTP with anyone or input it on their behalf.

  • Genuine OTP SMS notifications for online transactions will inform the customer of the exact purchase amount and include the last four digits of the card, followed by the OTP.

  • For digital wallets, the notification will warn the customer that they are attempting to link a specific card to a specific wallet and advise them to call their bank or log into the official banking app to complete or cancel the action.

 

TYPICAL SCAM SCENARIOS:


  • Criminals often send mass SMS messages claiming a parcel is held at a post office, including a link to a fake website branded with logos from the SA Post Office or other delivery services.

  • The website will ask for card details under the pretext of a small fee, which the criminal then uses to enter into their own digital wallet.

  • When the bank sends an OTP, the criminal requests this from the user, who mistakenly believes it relates to the supposed parcel payment.

  • By providing the OTP, the user inadvertently gives the scammer access to their card via the criminal's digital wallet.

  • Once the card is loaded onto the criminal's device, they can use their own biometrics to verify and make transactions.

 

Our warning aims to raise awareness about the increasing sophistication of digital wallet scams.

 

By understanding these tactics and recognising authentic communications from their bank,

customers can better protect themselves from falling victim to these scams.


Banks continue to provide critical support through their Cybercrime units, which are dedicated to

investigating and combatting these crimes to safeguard customers' financial security.

 

Specialised Security Services' Cybercrime Unit specialises in deciphering the scams mentioned above.

If you suspect that you have been a victim of any of these scams,

contact Mr Mike Bolhuis for help from the SSS Cybercrime unit immediately.

 

Specialised Security Services invites the public to the Mike Bolhuis Daily Projects WhatsApp Group.

This group is important in delivering insights into the latest crime trends, awareness, warnings and the exposure of criminals.


HOW TO JOIN THE MIKE BOLHUIS DAILY PROJECTS WHATSAPP GROUP:

 
CONTACT MR MIKE BOLHUIS FOR SAFETY AND SECURITY MEASURES, PROTECTION, OR AN INVESTIGATION IF NEEDED.

ALL INFORMATION RECEIVED WILL BE TREATED IN THE STRICTEST CONFIDENTIALITY AND EVERY IDENTITY WILL BE PROTECTED.
 

Regards,

Mike Bolhuis

Specialist Investigators into

Serious Violent, Serious Economic Crimes & Serious Cybercrimes

PSIRA Reg. 1590364/421949

Mobile: +27 82 447 6116

Fax: 086 585 4924

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EXTREMELY IMPORTANT: All potential clients need to be aware that owing to the nature of our work as specialist investigators there are people who have been caught on the wrong side of the law - who are trying to discredit me - Mike Bolhuis and my organisation Specialised Security Services - to get themselves off the hook. This retaliation happens on social media and creates doubt about our integrity and ability. Doubt created on social media platforms is both unwarranted and untrue. We strongly recommend that you make up your minds concerning me and our organisation only after considering all the factual information - to the exclusion of hearsay and assumptions. Furthermore, you are welcome to address your concerns directly with me should you still be unsatisfied with your conclusions. While the internet provides a lot of valuable information, it is also a platform that distributes a lot of false information. The distribution of false information, fake news, slander and hate speech constitutes a crime that can be prosecuted by law. Your own research discretion and discernment are imperative when choosing what and what not to believe.


STANDARD RULES APPLY: Upon appointment, we require a formal mandate with detailed instructions. Please take note that should you not make use of our services – you may not under any circumstance use my name or the name of my organisation as a means to achieve whatever end.


POPI ACT 4 of 2013 South Africa: Mike Bolhuis' "Specialised Security Services" falls under Section 6 of the act. Read more here: https://mikebh.link/fntdpv

 
SSS TASK TEAM:
 
 

Copyright © 2015- PRESENT | Mike Bolhuis Specialised Security Services | All rights reserved.


Our mailing address is:

Mike Bolhuis Specialised Security Services

PO Box 15075 Lynn East

Pretoria, Gauteng 0039

South Africa

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