6 tips to help reduce ATM skimming incidents:

  1. Customers should be wary of anything about the ATM machine that looks out of the ordinary, such as odd-looking equipment or wires attached to the device.
  2. Customers should look for a “no tampering” sign. Fraudsters often place these to stop anyone curious about a new piece of equipment.
  3. Customers should stay away from a jammed ATM machine that forces customers to use another ATM that has a skimmer attached.
  4. Customers should check  bank accounts regularly to make sure there are no unusual or unauthorized transactions. If in doubt, check with the bank  for details.
  5. If you see anything unusual or suspicious around an ATM, or if you find unauthorized ATM transactions on your bank account, immediately notify the nearest branch and/or the location of the ATM.
  6. Always protect your PIN: Don’t give the number to anyone, spouse or children and cover the keypad while you are entering your PIN.

Fraud

Fraudsters send out scam emails asking for clients’ help in transferring large amounts of money to third parties and promise them a percentage, if they agree to process the transfer using their personal accounts. The fraud is to trick prospective victims into parting with funds by persuading them that they will receive a substantial benefit, in return for providing some modest payment in advance to enable processing. Customers beware of such emails or calls.

Fraudsters also run malicious codes and malware programs which take control of client’s computer to spread a bug. Make sure your antivirus is up to date.

Fraudsters run a program known as the “salami technique” to steal money in small increments. The program makes very small changes over an extended period, so that the changes are not easily noticeable by  deducting a few dollars per month from the accounts of many clients. Please report immediately to the bank, any discrepancy on your account no matter how small.

Clients may be redirected from a legitimate bank website to fraudulent or phony website which look very identical to the  real one; however any personal information entered such as passwords and credit card number would be sent to the cyber-criminal. Customers are advised to carefully check whether the website is .com or co.zw every time they log onto it. If there is any change, they should verify with the bank to avoid phishing.

Card cloning and debit / credit card fraud

  • Card cloning occurs when a thief duplicates your card details and its PIN and makes transactions on your behalf. Avoid leaving your card unattended or being swapped in a supermarket queue when making payment.
  • Debit card fraud occurs when a thief accesses your card or PIN number and makes unauthorized transactions.
  • The easiest way to spot debit card fraud is to sign up for internet banking and monitor your account for suspicious activity.
  • Getting bank alerts, going paperless, destroying old debit cards, and protecting mobile devices such as phone and laptop are recommended ways to help prevent debit card fraud.
  • If you find evidence of debit card fraud, contact your bank immediately and report the activity.
  • Don’t do financial transactions online, when using your mobile devices or computer in a public place using free WIFI or over an unsecured network.

Money Laundering

I. SUMMARY OF CUSTOMER/ BUSINESS PARTNER ACCEPTANCE POSITION

The Bank has a clear risk appetite statement position for ML/TF. There are certain clients or business partners which the Bank will not deal with because they pose a high risk to ML/TF. The following is a list of persons with whom the Bank is presently not prepared to enter into a business relationship, be it direct or indirect:

  1. banks and corporations which do not have a physical presence in any jurisdiction (shell banks/corporations);
  2. business structures that make it impossible to verify the ultimate beneficial owner/s;
  3. individuals/business structures that make it impossible to verify the legitimacy of their activities or the source of funds;
  4. applicants for business who refuse to provide the required information or documentation;
  5. Payable Through Accounts;
  6. Sanctioned individuals and entities; for SDNs and deemed SDNs on the OFAC list Zimbabwe – has a strict policy against making payments in their favour, the payments are blocked on the SWIFT sanctions service.
  7. Profit-making child adoption agencies;
  8. applicants for business involved in child pornography;
  9. applicants for business involved in adult entertainment, including but not limited to pornography and dating;
  10. applicants for business involved in gambling including online gambling;
  11. applicants for business involved in human trafficking and prostitution;
  12. applicants for business involved in illegal drugs and drug paraphernalia;
  13. applicants for business involved in pyramid sales;
  14. applicants for business involved in the production or trade in radioactive materials and or arms of mass destruction; applicants for business involved in the production or trade in weapons and munitions or spare parts of war related vehicles;
  15. applicants for business involved in production or activities involving harmful or explosive forms;
  16. applicants for business involved in forced/harmful child labour activities;
  17. Entities or individuals linked or operating in the Crypto currency market, including persons involved in the Bitcoin industry/business; and,
  18. No business relationship of any kind may be maintained with persons from the following countries:
  19. Afghanistan
  20. Belarus
  • Cuba
  1. Eritrea
  2. Iran
  3. North Korea
  • Syria
  • Republic of the Sudan
  1. Demoratic Republic of Congo
  2. Charitable institutions and organisations which are not officially registered or recognized.

II. PROHIBITIONS

We will terminate our business relationship upon reasonable grounds, that you are involved in any of the following:

  1. Deliberate or willfully negligent breaches of law, regulation or policy applicable to Anti-Money Laundering and Anti-Bribery and Corruption
  2. Repeated unintentional or repeated accidental breaches of law, regulation or policy applicable to Money Laundering/ Terrorism and Bribery & Corruption;
  3. Misusing your relationship for conducting money laundering or terrorism financing or bribery and corruption;
  4. Facilitating business activities which could be construed as a tax offence;
  5. Refusing to provide sufficient information or documentation to demonstrate compliance with the standards outlined in this Statement.

Customers should know that the bank also runs Data Analytics on all accounts and transactions to weed out anomalies pointing to money laundering.

Internet Banking

8 handy tips for Internet banking customers ;

  1. Avoid Using Public Wi-Fi and use VPN software whenever possible.
  2. Check for latest updates of your smart phone or computer operating system.

Customers must use current or up to date internet browsers i.e. Chrome, Safari & Edge

  1. Change your password regularly and ensure it is a strong and complex one.
  2. Subscribe for mobile notifications so that you get updates as you go.
  3. Always use genuine anti-virus software on your devices so that they can be updated automatically.
  4. Avoid signing-in to your internet-banking account via mailers. It is always safer to type the bank URL (bancabc.co.zw ) yourself than getting redirected to it via a promotional mail or any other third-party website .
  5. Do not use public computers to login to internet banking. If you have to login from such places, make sure you clear the cache and browsing history, and delete all the temporary files from the computer. Never allow the browser to remember your ID and passwords. Customers must logout after using internet banking to avoid session hijacking.
  6. Check your account regularly to detect any anomalies quickly.

As part our commitment to transparency and accountability BancABC has subscribed to the Deloitte Tip-Offs Anonymous service. All stakeholders are encouraged to report theft, corruption, fraud and any other unethical misconduct. The Deloitte Tip-offs Anonymous is run as an independent Call Centre which handles any unethical and dishonest behaviours that may be occurring within BancABC in a confidential manner. Your identity will be kept anonymous. We commit to thoroughly investigate all reported cases and to provide feedback.

If you are aware of any fraud, theft, corruption, abuse and any other unethical and inappropriate behaviour by anyone at BancABC and any of its subsidiaries or any individual or company who is doing anything that is unethical that may impact on BancABC business, please report to Deloitte Tip-offs Anonymous using the methods listed below:

  • Toll Free Telephone: 0800 4100, 0800 4101, 0800 4103, 0800 4104, 0800 4105, 0800 4106 or 08004151 (These can be dialed from any Tel-One phone countrywide – there is no cost to you.)
  • Toll Fee Econet lines: 0808 5500, 0808 4461 (These can be accessed by Econet Subscribers ONLY)
  • Toll free Netone lines: 0716 800 189/ 0716 800 190 (Netone subscribers only)
  • Toll Free Telecel lines: 0732 220 220 / 0732 330 330 (Telecel subscribers only)
  • Internet: http://www.tip-offs.com
  • Free Post: The Call Centre, P.O. Box HG 883, Highlands, Harare.
  • E-mail: reportszw@tip-offs.com

You can contact the Call Centre 24 hours a day, 365 days a year.