Spoofing is the act of hiding the true identity of a sender making you think that it is someone you know. Criminals are intercepting e-mails and altering the banking details on documents and in e-mails to their details. They use spoofing technology to make it look like it’s coming from the correct e-mail address. Recipients’ pay thinking it comes from a legitimate source, when in fact the money is paid into the scammer’s account.
Important step-by-step guidelines to follow when receiving or sending banking details:
• Banking details provided must be supported by means of a cancelled cheque, bank statement not older than 3 months or a stamped bank confirmation letter.
• Furthermore, banking documentation should be scrutinised for accuracy and completeness. Any differences identified, e.g.inconsistencies with font style, colour and sizes, etc. should be queried.
• Always verify the banking details telephonically (using the contact details on your records) before proceeding further. This is a critical step.
• Refrain from using keywords like bank, bank statements, banking details, agreement of loss, AOL, etc. in the subject line of the e-mails. Most importantly, we strongly suggest that your security systems are upgraded to prevent your e-mails from being hacked. Santam has NOT changed its banking details. Should you receive any communication indicating otherwise, please contact us immediately.
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