The National Financial Ombud (NFO) Scheme of South Africa is seeing an increase in complaints related to unauthorized tap-and-go transactions. The NFO advises consumers to take steps to protect their accounts, including setting withdrawal limits and considering facial recognition security.
With tap-and-go scams on the rise, people are looking for ways to keep their money as safe as possible. The National Financial Ombud (NFO) Scheme of South Africa deals with scammers, lost bank cards, and unauthorized money withdrawals. The scheme’s Nerosha Maseti said that people often file complaints with both their banks and the ombud’s scheme when their cards are lost or stolen.
'In the ombudsman space, we have seen a few of these types of complaints, where banking customers report unauthorized tap-and-go transactions on their accounts after their cards were lost or stolen.' The NFO is also advising people to put a limit on how much money can be withdrawn from their bank accounts to protect consumers from tap-and-go scams. Maseti said that while tap-and-go is generally safe and requires a PIN to exceed a certain limit, additional protection is important. 'Facial recognition does provide a high level of security by using unique biometric data that is very difficult to replicate. So, it is indeed an extra layer of security to help prevent unauthorized access to your device,' Maseti said
Tap-And-Go Scams Security Financial Ombudsman Biometric Data
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