Christine told me she was convinced her caller was from her bank’s fraud division because she not only had her bank account details, but congratulated her on paying off her credit card balance.
Both women, on realising they’d been defrauded, alleged that the staff working for their banks must have colluded with the criminals.
Here’s what you need to know: If you are credit active many of your financial details are “out there”, thanks to several major data breaches. But they need your help to access your bank account: passwords and OTPs that only you know.
That’s why they make those phone calls. So never give any numbers relating to your bank accounts to anyone claiming to be from your bank. End the call and phone your bank’s fraud division using the number you have pre-saved under your cellphone contacts to make sure that someone isn’t trying to defraud you.
Don’t confuse your warranty with an insurance policy
Albie has ended up with an emoluments attachment order — better known as a garnishee — on his salary thanks to a misunderstanding about what his cellphone service provider was responsible for.
He stopped paying the subscription on a his laptop contract because the device stopped working after a power surge and he believed his cellphone company should have repaired or replaced it under warranty.
"The device was still under warranty as I only had it for a year at that time.
“They refused to let me only pay for my phone contracts and not the laptop contract, saying all the accounts fall under one profile.”
As I explained to Albie, a manufacturer’s warranty on a device covers defects — a problem caused by the manufacturer of the product which prevents the consumer from having full use of it.