FNB Zambia and Visa have introduced the annual Card Security Briefing, an initiative aimed at creating greater awareness amongst consumers to adopt cards as a safe and convenient way to make their daily purchases.
Over time, cards have increasingly become popular way of paying for goods and services in Zambia. FNB forecasts that the value of card transactions will, in coming years, exceed the value of cash purchases amongst the Zambian population.
Says FNB Zambia CEO Sarel van Zyl: “FNB Zambia is now issuing the latest Chip and PIN cards to its customers and encouraging Zambians to adopt cards as a safe and convenient ways to make daily purchases. We launched our Chip and PIN cards at the end of July this year, and will roll-out our new cards to all our customers. The cards offer additional levels of security and we urge our customers to be aware of their PIN security.”
Salome Makau, Country Manager for Visa in Zambia says: “The payment landscape is constantly evolving, and with this comes the need for greater security and heightened awareness on behalf of the consumer. The introduction of chip technology as the common method of cardholder identification will help to prevent fraud, allowing Zambians to enjoy the benefits of safer transactions.”
The best way to defeat card fraud is to be vigilant when using your bank card personal identification number, or PIN. Criminals are aware of the value of a PIN and will create a number of ruses to convince a customer to disclose their PIN. Therefore, awareness of a few simple precautions will go a long way in helping to keep your PIN safe:
- Memorise your PIN and keep it confidential
- If you think your PIN is no longer secure, change to a new PIN at an FNB ATM
- Cover the key pad with one hand when you use an ATM or when paying in a store
- Never give your PIN details to another person
- Do not allow strangers to distract you at an ATM or when paying in a store
Salome Makau, Country Manager for Visa in Zambia says: “Card fraud is a reality; however, we are continuously monitoring transactions as well as card fraudsters around the world to ensure we are up to date with their methods of obtaining customer information.”
From FNB’s perspective, skimming and cloning remains the biggest card fraud threat to customers. Therefore, customers are urged to take care when transacting or when at an ATM. Fraudsters will try to distract cardholders in order to obtain their card for a few seconds to skim details on the magnetic stripe. Once they have these details, they then view the customer entering their PIN and then have the necessary information to make fraudulent purchases.
“PIN-enabled transactions are considered to be authorised by the cardholder, as your PIN is unique and should not be shared. Should a dispute arise on an ATM withdrawal or a purchase at a point of sale and a PIN has been used, FNB will consider this to be a legitimate transaction. The incident will be investigated to determine if the card has been cloned or skimmed and if the customer was negligent with their PIN, FNB will not refund the customer. PIN security is something each customer should make a priority, as your PIN is your ‘first-line’ of defence against fraud,” says Henk Vermeulen, FNB Card Security specialist.
The FNB Zambia and Visa Card Security Briefing will launch a consumer education campaign to raise awareness about the following forms of payment card fraud:
- Phishing, smishing, skimming and cloning
- Safety precautions for PINs and safeguarding your personal information
- The Unusual Suspects: identifying the not-so-obvious fraudsters and scams
Makau concluded: “A zero-tolerance stance towards all types of card fraud is a key commitment for both FNB and Visa. Both companies remain focused on seeking solutions that protect individuals from fraud.”
“FNB offers its customers the latest fraud protection technology, often working behind the scenes, but always vigilant. However, the best defence is an informed and careful card user. We will continue to present fraud prevention tips to our customers to ensure they enjoy the convenience and security of FNB and Visa bank cards,” concludes Sarel van Zyl, CEO of FNB Zambia.