Fraudsters Exploit Social media to Target FNB Clients, CEO Issues Warning

Fraud has become a pressing concern in Namibia’s banking sector, with criminals leveraging social media and other tactics to deceive clients and access their personal information. Speaking at a press conference in Windhoek, Nangula Kauluma, Chief Executive Officer of FNB Namibia Retail, warned clients to remain vigilant against fraudsters who use manipulative schemes to gain unauthorized access to banking details.

Kauluma emphasized that many victims fall prey to scammers who promise false opportunities or request confidential information under false pretenses. She urged clients to verify the legitimacy of any suspicious communications directly with the bank, reiterating that no FNB employee will ever request sensitive details such as OTPs, PINs, passwords, or account numbers.

“Social engineering remains one of the most common methods fraudsters use,” Kauluma noted. Other prevalent tactics include web application attacks, card swapping, and cybersecurity breaches, all aimed at accessing customers’ accounts to commit financial crimes.

Kauluma reassured the public that recent fraud incidents investigated by FNB Namibia did not involve any internal staff. However, she encouraged clients to play an active role in combating fraud by promptly reporting any suspicious activities or anonymous calls requesting transactions.

The CEO’s remarks come amid of over N$3 million was scammed from FNB clients, as criminals continue to exploit vulnerabilities in technology and human psychology to execute their schemes. FNB Namibia urged all customers to remain cautious and prioritize security by safeguarding their banking information at all times.