|Category||Fraud and Scam||
|Owner||Free Ads SA|
|Title||New Bank Debit Order Fraud Scams|
Bank Debit Order Fraud Scams South Africa
Fraudsters have uncovered a floor in South Africa's debit order banking system allowing easy withdrawal access, which has resulted in an alarming figure of over 750 000 debit order disputes every month at an inter-bank level.
Absa Bank Debit Order Fraud Update:Absa Bank have now announced that unauthorised debit orders can be reversed (within 40 days)
Online tool helps you reverse unauthorised debit orders
Debit Order FraudBanks such as ABSA, FNB, Nedbank, Capitec and Standard bank have all been targeted.
Reality is, anyone can submit a debit order taking money from an account if they have your banking details (account number and name) and the bank does not question the debit order transaction.
SA banks release money from accounts without a signature on an authorization document or verification, and they don't notify you when a debit order takes place.
In other words. Banks do not in anyway confirm with the account holder before they process debit orders.
Most SA banks in general have a crappy attitude indicating they can't do anything from there side except give the name of the company and contact details and state they only investigate credit card fraud.
And the cops even have a worst attitude. The police (SAPS) won't even open a case because the crime was on the internet and you cant give them a place where the crime took place
Not a single bank (except for Absa Bank) has publicly responded and neither do they seem bothered about this debit order fraud due to them making bucks from unauthorized debit orders by benefiting through the fees charged on reversal transactions and say debit orders have nothing to do with them as it is between you and the person you give permission to take your money.
It makes a person wonder if its not perhaps them selling fraudsters peoples banking details.
Become vigilant, and protect your privacy and contact details as well as banking details.
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Free Ads SA warns users to be vigilant rather than gullible when purchasing items. If it sounds too good to be true, its scam!