Many South African senior citizens have spent decades working hard, saving diligently, and investing wisely to build a secure financial future. Retirement should be a time to enjoy the fruits of their labour without the looming threat of financial loss due to fraud, according to Chris Boxall, FNB head of card transact, industry and fraud detection.
He says yet, during the festive season, scammers become increasingly active, targeting those least able to absorb the impact.
“Leading up to high-volume shopping periods like Black Friday and the festive season, we want our customers, especially senior citizens, to enjoy the ease and security of using our safe payment solutions”.
We know that excitement over this time of year often drives higher retail spend, but we urge our customers to remain cautious and extra vigilant. By staying alert, they can avoid falling victim to fraud when shopping in-store and online,” says Boxall.
Zibu Nqala, CEO of FNB points of presence, echoes this sentiment. “Many South Africans, including senior citizens, still prefer the convenience of using cash rather than physical bank cards, virtual cards, or even wearable devices. These customers also rely on easy access to our in-branch and off-site points of presence for cash withdrawals. However, a ‘cash is king’ mindset can leave people more vulnerable to fraud. That’s why we continually remind our customers that fraudsters are always finding new and smart ways to scam them. Awareness is your strongest defence against fraud; staying informed and alert can help make this festive season safe and worry-free.”
Boxall and Nqala have shared practical safety tips to help retirees outsmart scammers ahead of Black Friday and the festive season. Customers are urged to be on high alert when using their physical or virtual bank cards.
According to Boxall, if a physical bank card is lost, it should be reported and blocked immediately by calling FNB’s official number – 087 575 9444.
“Our customers’ safety and peace of mind come first. That’s why we’re focused on protecting them from fraudsters, while continuing to innovate our payment solutions that support their needs and evolving financial journeys,” says Boxall.
As the year draws to a close, there is typically a surge in cash withdrawals – whether for road trip refreshments or stocking up for family braais. Unfortunately, this seasonal spike often coincides with a rise in ATM and card-related fraud attempts, including card swapping at ATMs and parking stations, says Nqala.
“Even though FNB data shows a 3% reduction in cash-related transactions year-on-year, we expect this trend to continue as more customers embrace digital channels. However, there are still many customers who use cash to facilitate their payments. Customers are urged to exercise caution and remain vigilant when withdrawing or depositing cash at ATMs, also when using a card to make a payment at parking ticket stations,” says Nqala.
To stay safe, customers should follow a few important precautions when transacting at ATMs and parking stations: never accept help from strangers; stand as close as possible to the machine; shield the keypad with your hand; avoid entering your PIN on unfamiliar screens; read instructions carefully; cancel transactions if the screen appears unusual; and check statements regularly to report suspicious activity, says Nqala.
Boxall says customers are also advised to avoid downloading unknown apps. Personal devices may have built-in security features such as biometrics and passcodes, which should be activated. Unsecured or unfamiliar apps can expose users to fraud risk, often mimicking legitimate e-commerce platforms to trick users into entering payment details or making purchases that never arrive. The same caution applies to websites; always verify legitimacy by searching on Google and checking URLs for spelling errors or unusual formatting.
It is equally important to recognise the signs of phishing, smishing, vishing, and quishing. Seniors should avoid clicking on links in suspicious messages or emails. These scams are designed to lure victims into sharing sensitive information. Phishing involves fake emails pretending to be from trusted sources; smishing uses deceptive SMS messages; vishing is a phone scam pressuring victims for card numbers, OTPs, usernames, or passwords; and quishing uses fraudulent QR codes to redirect users to fake websites, Boxall and Nqala say.
No legitimate bank representative will ever ask for sensitive information such as PINs, passwords, or OTPs to verify identity. If such a request is made, it is a red flag. Sharing these details can result in unauthorised access and serious financial loss. Banks will also never ask customers to validate KYC information via links or SMS, they say.
“We’ve made it our responsibility to go the extra mile and work around the clock to monitor scams and fraudulent activity through a multi-layered security approach. At the same time, we’re making it easier for our customers to transact in ways that suit their needs,” says Boxall.
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