Be warned of the latest phising scam
"The scam invites customers to provide their personal information with a promise of paying compensation to victims of other internet scams promising tax refunds," the Banking Association SA said in a statement.
This compensation was said to come from "The Victims Redress and Compensation Funds (VRCFs)" but the BASA has confimed that the fund does not exist and reiterated that the association has nothing to do with it.
"We call upon all persons to be extra vigilant with their information and to disregard this email and its contents," MD, Cas Coovadi said.
Phishing scams are nothing new - and they do not just relate to people trying to get sensitive bank details. They also include things like the notorious 419 scams and other ‘do data entry from home' scams as well as holiday home and apartment rental scams.
It's important to take a vigilant approach when it comes to doing business online in order to prevent being scammed.
Justmoney.co.za recently put together a helpful article on how to guard yourself against phishing and 419 scams - if you want to know more on the subject or you are unsure about anything read our article about phishing or follow Justmoney.co.za on Twitter.
Remember - a bank will never ask for your private details via e-mail and you should never access a bank link via e-mail - always go directly to the bank's website.
Featured Rating agencies may come knocking
It is only the middle of February, but the rand has already made two big moves. The first was the rand moving from R14.60 to R 13.20 at the beginning of the year, as emerging markets (EM) became fashionable again. The second was where the rand gave away nearly 90 cents in 2 weeks as the EM rally ran out of steam, and local events started to hit the headlines.Read more
The cost of sending money home to neighbouring countries
Transferring money home within the Southern African Development Community (SADC) provides vital financial support for many households in neighbouring countries.Read more
Student bank accounts: Which come out on top?
Being a student signals budgeting and not having a lot of money at your disposal. This means streamlining expenses such as your grocery costs and entertainment budget. But what if your bank account is in fact costing you more than you can afford?Read more
Can you afford an ambulance in South Africa?
When a loved one is straddling the line between life and death, you won’t hesitate to call an ambulance. This week, Justmoney found out how much an ambulance ride costs in South Africa, whether you can refuse to get into an ambulance, and who pays the bill if you’re unconscious.Read more
Sign UpTo our weekly newsletter for advice you can bank on
President Hotel Easter Special
Price: From R1,500
When: 15 March to 30 April
Where: Cape Town
Kulula-Preskil Island Resort Special
When: 11 May -14 September
A Touch Of Madness Tuck In Tuesday Special
Where: Cape Town