Staying safe from financial fraud

Online banking scams are no longer a distant threat. They happen to people we know and trust, including people who work in financial services every day. In one recent case, a scammer impersonating a bank’s fraud department used real personal information and a false sense of urgency to nearly convince someone to move money into a “safe account.” No harm was done in the end, but it was a reminder that anyone can be targeted.

If someone calls claiming to be your bank

Stop before you act. This is one of the most common scam patterns: a caller claims to be from your bank, sounds convincing, and urgently asks you to verify your details or move your money. Watch for:

1. 1A fake fraud alert delivered with real urgency.
2. 2Knowledge of your ID number, recent transactions or a one-time PIN.
3. 3A request to move funds into a “safe” or “holding” account.

None of these are things a genuine bank will ask of you on an unexpected call. Hang up, and call your bank back using the number on your card or their own website — never a number given to you during the call.

A few habits that help

1. 1Never use contact details provided in a suspicious message — go directly to your bank’s own website or app.
2. 2Watch for near-identical email addresses and website links: a single swapped letter is enough to fool a quick glance.
3. 3Be wary of generic greetings, urgent tones, and requests you were not expecting.
4. 4Talk to the people around you, especially older relatives, about these patterns. A simple warning can prevent real loss.

Investment scams specifically

Fraudsters also approach people directly with promises of guaranteed high returns for little effort. Any offer that sounds like this is worth treating with real suspicion.

1. 1Only work with licensed, registered financial advisers.
2. 2Be cautious of anything vague, secretive, or resistant to your questions.
3. 3Check whether the person or company is registered with the FSCA.

This article is general information and not advice. Silke Financial Services is an Authorised Financial Services Provider, FSP No. 12462.