What are common signs of APP fraud?

Common signs of APP (Authorised Push Payment) fraud include receiving phishing emails, calls or SMS messages. Normally promising enticing deals or investment opportunities with links leading to fraudulent websites.

What happens if I click on a phishing email link?

Clicking on such a link may lead you to make a payment or enter your personal details. Subsequently, you may receive a call claiming your account has been hacked, putting your funds at risk.

After the initial payment, scammers may contact you, referencing the phishing email, and warn of potential financial loss. They then ask you to download a screen mirroring app and share a code that gives them access to your phone. Finally, they may also ask you to download an app like NALA to move funds and ‘secure your account’.

Should I trust unsolicited messages referencing a security threat?

No, legitimate institutions typically don't contact users through such methods. Be cautious of unsolicited messages and verify the legitimacy of any claims independently before clicking on any links or following instructions. If in doubt, contact your bank.

For more tips on how to stay safe whilst managing your money, check out this article.

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