Swaziland Building Society (SBS) has recently launched the remote account opening facility, marking a significant step forward in making banking more accessible and convenient for all.
As of this digital transformation, SBS remains committed not only to educating customers about products and services, but also to fulfilling its duty to caution the public about emerging threats and vulnerabilities in the digital space.
This article aims to empower the everyday citizen, the ordinary man on the street with practical knowledge on how to stay safe while embracing digital banking as we open accounts remotely at SBS.
HOW TO OPEN A REMOTE ACCOUNT
• A customer needs to send ‘A/C Opening’ via SMS to 3 000 (that’s three-zero-zero-zero).
• The customer will then immediately receive a secure link on their cell phone. A click on this link will allow you to complete your account opening application online. It is a straightforward, step-by-step process designed for simplicity.
• This service is perfect for new or existing customers wanting to open additional accounts. It is fast, convenient and available 24/7. It brings SBS even closer to you, no matter where you are in Eswatini.
WHAT YOU WILL NEED:
You will need your national ID, proof of residence and some basic information to complete the online form. Our team will then reach out to finalise the process securely.
SECURITY IN THE PROCESS:
SBS wants to assure our customers that robust security features are integrated into their banking infrastructure to guard their data and transactions. Although we cannot disclose detailed information on these features due to the sensitive character of security protocols, we maintain a focus on keeping their data with maximum confidentiality.
WHAT TO LOOK OUT FOR:
SBS Manager Fraud Risk, Sphalele Magagula cautions customers saying: “As they register, members of the public should always ensure that the response SMS comes from SBS as fraudsters may attempt to deceive customers by sending spoofed pages (fake websites designed to look like the bank’s registration page) or malicious links containing harmful code. These fraudulent links are crafted to steal personal information, and in today’s digital age, data is a powerful tool for advancing fraud.
“In order to protect themselves from such fraud, customers must always verify the SMS sender before clicking on any link. The valid registration link will be sent from the bank’s official SBS SMS only. In the event that the sender is not SBS, customers are strongly advised not to click on the link and report the message to the bank immediately.
“The key takeaway in this regard for customers is that they must always check the sender of the SMS. If the SMS is not from the bank’s official SBS sender, never engage with it. Vigilance is the best defence against online fraud.”
SPOOFED SITES
Magagula also notes that customers must also be cautious of ‘spoofed sites’. These are false sites created to imitate real ones like a bank’s genuine website. The aim is to trick users into sharing sensitive information like personal information, login details or financial data.
Here is what makes spoofed websites so dangerous:
• Copycat design: They follow the design, logos, colour schemes and even the URL pattern of the original website to present themselves as authentic.
• Social engineering: The scammers use psychological tactics to create a sense of urgency or fear, prompting the users to act quickly without verifying the source.
• Sent via fake links: Such sites are mostly accessed via a link forwarded via SMS, email or social media claiming to be from a trusted source like the bank.
• Intent: The intent is to steal personal or financial data, which can then be utilised to advance other fraudulent activities.
HOW TO STAY SAFE:
• Always verify the origin of any message prior to clicking a link.
• Be on the lookout for misspelled words or strange domain names (e.g., sbs-bank.com rather than sbs.co.sz).
• “If uncertain, proceed directly to the actual site by manually entering the URL or from a known bookmark” she emphasises.
• Never access bank websites through links shared on social media, unless they come directly from the official SBS social media pages.
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