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Fraud Awareness
The latest fraud and scam techniques
The latest fraud and scam techniques

How to stay safe whilst managing your money.

Updated over a week ago

Unfortunately, fraudsters are constantly developing new and sophisticated techniques to scam people and steal their hard-earned money.

We've compiled some helpful information on the new techniques fraudsters are using and how you can stay safe.

Authorised push payment (APP) fraud or bank transfer scams

What is APP fraud?

Authorised push payment fraud (APP fraud) occurs when criminals deceive or persuade individuals into transferring money to a different account. This type of scam involves tricking victims into making a bank transfer to a fraudster pretending to be a legitimate person or organisation.

You may receive a call claiming to be from your bank's fraud team and warning that you need to move your money to a safe account, but in reality, you'll be sending money to an account controlled by the fraudster. These fraudsters primarily target older victims or vulnerable persons.

What are the most common forms of APP fraud?

Vishing fraud

This type of fraud happens when criminals contact people over the phone and ask them to provide their personal information, such as online banking details, usernames, passwords, or confirmation codes. This information helps fraudsters take over the target's account.

Remote support or installation of software fraud

This type of fraud occurs when criminals ask someone to download software, usually a mobile app. This app typically allows criminals to see an individual's screen and gain access to compromise their personal information. Fraudsters often use remote access software applications to gain control of their victim's banking and finance applications.

Delivery company fraud

Smishing is a common form of fraud in which scammers target people through text messages. They impersonate trusted organisations and send messages to victims, claiming that customers are holding a parcel or the delivery has failed. They do this to trick the victim into providing personal and sensitive information.

The messages often contain a link to a fake website that looks legitimate, and the victim is prompted to enter their personal information. It is essential to be cautious when receiving such messages and avoid clicking on any links or providing any personal information.

Someone asked me to download NALA to secure my bank account?

Most APP frauds do not target regular customers but trick people into using NALA by misrepresenting the purpose of the app. Fraudsters typically reach out to people who are not already NALA customers and convince them to download the app to send money to fraudulent beneficiaries.

We are working on making the NALA app more transparent, so when anyone downloads the app, they can easily understand what we do and that they are sending money to a recipient in Africa.

How to report a scam or fraudulent payment

If you ever doubt the legitimacy of a transaction or suspect that you've fallen victim to fraud, please take these steps:

  1. Contact us: Immediately send an email to mamanala@nala.com to report your concerns.

  2. Avoid social media: Do not share details of suspected scams or suspicious transactions on social media, as this can compromise your security. Instead, contact us directly via mamanala@nala.com or the chat feature on your NALA app.

  3. Temporary account restriction: In cases of suspected fraud, we may temporarily restrict your account to safeguard your funds while investigating your report.

How we protect you at NALA

With the rapid development of these sophisticated new scams, NALA is quickly crafting new solutions to counter the latest fraud and scam strategies.

Here are just some of the ways NALA detects or prevents fraudsters from getting your money:

  1. We have automated checks in place looking for suspicious activities, which might lead to people having to prove their identity again. We do this to keep people safe and also compliant with financial regulations.

  2. To ensure we know it's really you, customers accessing NALA via the mobile app are asked to provide either a Passcode or Biometrics, such as a fingerprint or facial recognition.

  3. We are releasing a new confirmation page that is displayed when sending funds to a new recipient. We'll ask you to confirm that you know and trust the intended recipient of the funds before the transaction can proceed. If we detect that the payment may be a scam, we'll provide in-app warnings, which you should never ignore.

  4. Remember that NALA will only contact you over the telephone if we verify ourselves first. If you are ever unsure about the person contacting you, you can ask our 24/7 in-app support team for confirmation or hang up the call.

  5. Your bank will never ask you to move money to any account. When unsure, you can call your bank using the phone number on your bank's website rather than answering calls from unknown or withheld numbers.

For more tips on how to stay safe whilst managing your money, check out this blog. You can find related articles in our help centre here.

Your safety is our priority, and we're here to support you every step of the way.

Thank you, the NALA Team.

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