Zero tolerance to Frauds

There are various forms of scams, these include age old dirty notes scam, lottery scams, Inheritance scams, Investment scams to job scams, marriage scams, organ donation scams, education and training scams. While each of the scam has some unique modus operandi but they also have certain common characteristics. I have listed down some and would be happy to update it based on inputs: 1- Scarcity  - There would always be a scarcity of the item/service being offered. Be it a job or investment offer. This is used as a bait to get the target to act fast. 2- Confidentiality - Scamsters would want the target victim to keep the offer confidential, they don't want the victim to consult others. 3- Too good to be true - Target victim usually thank their "luck" and past "good karma/deeds" to be chosen for the offer, it is because the offer is so good, it's almost unbelievable; which it is. 4- Commitment - It may be financial/non financial and usually is notio...

1- Call :  Any change in account details received on email/fax must be validated through call at already known phone number. 2- Test Transaction :  When making fund transfer based on account details received through non- personal channels  (email, fax, courier), always conduct a test transaction of small value, confirm the receipt with beneficiary through phone call (already known number). 3- Don't trust account title:  In the era of automated payments, there's no compulsion on banks in various jurisdictions to validate account title before affecting payment. Banks usually rely on the account number/IBAN (or IBAN equivalent) to credit the payment even if account title doesn't match. So if you get a different account number for making payment and account title is same as usual account title,  it doesn't mean that actual account title for the new account number is same. 4- Control supplier account number update process : There may be a request to update ac...

1- Share on strictly need to know basis - What ever you post on social/professional media is accessible to everyone hence be careful about what you post. A smart identity thief would pickup bits and pieces from various sources and obtain necessary information to commit fraud. when you are filling up those "lucky draw" forms, be careful about putting information like date of birth, anniversary date, phone number, address etc. This could be a ploy to gather confidential information 2- Submission of documents - We submit documents like id proof, address proof etc for obtaining various services like a new SIM card, land line phone, gas connection, other private/government services, account opening etc. As far as possible write down purpose for submission of document in a way that it also appears when someone takes extra copies of those documents. This would allow to identify un authorized attempts to obtain products./services which do not match with the stated purpose on th...