MCB Seychelles has adopted a number of security measures to ensure the safety of its customers. (Nation of Seychelles)
(Seychelles News Agency)-After some customers became victims of fraudulent transactions, the Seychelles Bankers Association advised people to be more careful when sharing bank details with whom.
Phillip Moustache, president of the association, told SNA, “One of the main problems we see is insecure online shopping sites.”
Some customers of Absa Seychelles Bank have recently become victims of a series of online merchant fraud and unauthorized transactions, deducting money from their accounts through these transactions without their permission.
The bank takes steps to ensure that all such transactions are rejected, and in some cases selected individual cards are blocked and all affected customers are notified.
“We have a lot of people who like to shop online, but unfortunately, sometimes they end up visiting insecure websites, so their debit card details can be easily stolen by scammers,” Moustache said.
He added that there is a need to be more vigilant about bank transactions.
Mustache said that more education is needed to ensure that people know what types of websites they can visit, and that people must be more cautious when asked to provide personal information.
SNA spoke with Mauritius Commercial Bank (MCB) Seychelles to learn more about the security measures it implements to ensure the safety of its customers.
MCB Seychelles stated that security measures include the contactless features of the new debit card, which allows customers to simply tap the card at the POS instead of inserting a PIN to confirm payment.
MCB Seychelles stated: “This creates security by allowing customers to avoid constantly inserting their PIN in small transactions. It also prevents the need for card exchange hands, thereby enabling sanitary payments.”
The bank has also improved the security of online transactions, such as sending email notifications when transactions are completed, and most banks in the country are also implementing this initiative.
Visa Secure is another measure implemented by MCB to prevent people from making payments to unsecured websites, which are prone to fraudulent activities.
MCB Seychelles stated: “When paying on a website protected by VISA, when using their card to pay directly on the website, customers are transferred to a screen where they enter their user ID and a 6-digit one-time password to confirm payment."
The bank also stated that they are working hard to produce educational materials for customers to ensure a better understanding of various payment platforms and how to avoid suspicious activities.
"Currently, MCB Seychelles has launched a campaign to further educate customers on the policies and procedures of bank card transaction disputes through various communication channels."