During the COVID-19 pandemic since last year, there’s been a sharp increase in numbers on unauthorized online banking and card transactions.
Advertisements
A total of 1,848 cases were reported to the police last year compared to the 329 cases in 2019 and just 114 of such reports in 2018.
The most commonly reported cases are E-commerce scams which have also increased 19.1% last year compared to 2019.
The implementation by the banks such as one-time passwords cannot prevent online scams from happening. A number of victims were tricked by scammers into revealing their IDs and passwords.
Some precautions have been made such as banks rejecting card payments by some commonly disputed merchants or even setting credit limits.
Advertisements