Fraud Prevention

• In the Information age of 21st Century, where doing business and Financial Transactions has become a lot easier, it has also become easier for the fraudsters to attempt their attack in new ways that are not known previously.
• Faysal Bank Limited considers security of its clients extremely important and thus recommends its clients to learn on how to prevent fraud.
• Still Vigilant of Pilgrimage / Hajj Fraud

Call Spoofing (Ehsaas Programme & Jeeto Pakistan)

• All customers are advised not to share any Personal or Account related sensitive information in case anyone approached them while pretending to be an official or representative of Prime Minister Ehsaas Program or Jeeto Pakistan

Read and Communicate

• The first step of prevention starts when a customer takes out important time and consider reading the information and messages provided by the bank from time to time carefully.
• We at Faysal Bank Limited like to educate our clients through our communications and develop our client’s acumen for the self-protection within them for any fraudulent activity.
• Faysal Bank Limited encourages you to start interacting with us through our 24/7 Helpline for any doubts that you have. The questions can be related to anything, not necessarily establishing fraud.

Continuous Monitoring of Personal Information

• As a practice followed globally in the world, the customers are advised to stay vigilant and frequently monitor their account information, registered emails, phone numbers and transaction history to be able to protect yourself against fraud.
• Some of the best practices include:
  • Review your transaction history on periodic basis to highlight any payments or activity that you did not make.
  • Monitor the information that you maintain with the bank i.e. information displayed on the internet banking and mobile banking. Report any changes in your account that you have not made.
  • Immediately inform, if you experience anything unusual during the digital banking, such as additional steps when accessing Online Banking Platform, or OTPs that you didn’t not request.

Securing Your Debit and Noor Cards

• This is the most common type of fraud witnessed post Covid-19 pandemic due to manifolds increase in the e-commerce activity. Card fraud is a result of theft of a card or its data such as Name, Number, Expiration date and CVV.
• These cards details are sometimes also compromised online via malware, phishing, emails or even from the statements thrown in the bin.
• Some of the best prevention practices include:
  • Immediately report in case of the lost or stolen cards.
  • Review your statements every month and destroy Noor/Debit Card statements before disposing them off.
  • Secure you pin by changing it time to time. The pin should be not an easy guess for the fraudsters such as your birth year.

Ensure Your Devices and Mobile Number are Safe

• One of the most reported financial crimes are constituted due to compromised devices and the mobile phone number. Sometimes the malware, phishing and emails result in the data breach from the devices.
• Contact your Mobile Service Provider Immediately, if you experience any mobile phone issues (not able to make calls, send/receive texts). Ensure that a fraudster has not taken over your mobile phone number and can access any correspondence with Bank or generate an OTP.

Sim Swapping Fraud

• SIM swapping is when a scammer transfers your phone number to another device to access your accounts. This means the attacker hijacks the victims’ phone number and assigns it to the SIM card owned by them.
• In SIM swap scams, fraudsters get a new SIM card issued against your registered mobile number via the mobile service provider.
• Immediately inform FBL Helpline in case you experience loss of signals, inability to make/receive calls and SMS. This is one of the signs that your phone number/Sim Card has been taken over by the fraudsters.

Be Aware of Changing Fraud Trends

• Faysal Bank Limited believes in informing our clients of the global fraud trends and financial crime proactively and be able to detect them before they can reach our harm our clients.
• Some of the most prevalent frauds, scams and attempts of the current years have been explained below for education of our clients.

Card Not Present Scams

• Purchases over the internet, phone, or mail from a stolen, lost or compromised Noor/debit cards are considered to be scams under Card Not Present. Some of the precautionary measures that clients can take are below:
  • The customers should not store codes such as CVV on any device.
  • Avoid Phishing attacks, look out for not providing you card details on the websites or emails requiring your card details.
  • Never Provide your transaction generated OTP to any individual or imposter
  • Remember, imposters can use any identity such as Law Enforcement agencies or Banking Authority.
  • Always signup for transaction alert for all activities on your cards

Counterfeit Cards

• There are still thousands of cards in Pakistan that are not yet Chip or Pin enabled and still continue to rely on magnetic stripe. This results in the physical unauthorized use of the card.
• The quickest way to prevent this type of fraud is to activate your Chip based and Pin enabled card already issued from the bank and destroying old card.

Identity Theft and Account Take Over

A form of identity theft where access to clients’ banking services is gained by imposters where fraudsters are able to access client’s information and banking account without authorization. This is usually caused by either:

• Falling in trick used by the scammers using factious emails to force client to disclose personal information or banking details which allows them access to the accounts.
• Devices can get compromised by installing malicious software emailed to client with a link. This can steal your personal data once the link is visited
• Access to personal information can lead the fraudsters to request SIM replacement cards to gain access to authentication messages sent to your mobile.

ATM Scams/Card Skimming

• The current form of ATM fraud is based on installation of the skimming devices by the fraudster on the ATM machines, allowing them to copy and steal the confidential information when the machine is used by the client.
• The client is advised in this respect to kindly check for any devices attached to the card insertion area of the ATM machines and report anything suspicious.

Call Spoofing

• Call Spoofing in general is often used as a part of an attempt to trick someone into giving away valuable information so that it can be used in the fraudulent activity. In the current era, call spoofing has become very common based on the ability to create spoofed caller ID very easily. The caller usually pretends to be someone else.
• For instance a representative of the bank advising you that your account has been compromised and asking out personal information is suspicious. ‘
• Imposters can also pretend to be calling from security or law enforcement agencies or a central bank with intention of calling for a purpose that can trick or lure the customers to give away the personal information such as: Name, CVV, Date of Birth, Mother’s Name and OTP generated. Once this information is shared, the fraudulent activities such as Bank Transfer or Online Purchases are initiated.

SMS Spoofing

• SMS spoofing is a technique used to change the sender’s information (sender’s ID/phone number) while sending a text message. It is generally used by fraudsters to attempt to trick someone into believing that the message is sent actually by the bank or a government agency, requesting the receiver to send away their information or contact them on a provided number.
• Once the victim has contacted them, they would impost to be someone from Bank or an authority requesting them their personal information.
• Customers are advised to kindly do not give away any personal information to anyone in any situation (e.g. for Cancellation/Activation of your Card).
• Immediately inform Faysal Bank helpline if you experience any spoofing messages to help them protect you and other clients. Faysal Bank never claims that your account may be closed or blocked if you fail to confirm, verify, or authenticate your personal information via a Phone call, SMS or Email.

Physical Handing Over of Cards

• In the recent fraud trend, it has been observed that the fraudsters approached Bank customers while pretending to be Bank representative and convinced them to hand over their Debit and Noor Cards along with the PIN for Limit Increase / Activation.
• Once the cards are handed over to an authorized person, later on these cards are used on different merchants/ATMs for fraudulent activities.
• No Bank Representative is authorized to ask for a physical possession of Noor/Debit Card for replacement, activation or limit increase.
• Never give away your cards physically to any person in any situation claiming to be a Bank Representative or any person from a Government Agency
• In case you have experienced any situation, immediately inform FBL on the helpline to help us protect you and other valued clients.