First Capital Bank has called on its customers to remain cautious amid rampant cyber security fraud.

 Exposing cyber security fraud, FCB Head of Risk Prince Banda said that fraudsters will claim they need to authorize or complete a transaction by using the one-time PIN (OTP) that is sent to your phone or email in the case of a transaction, or information update. “An example is, stating that they are updating the account under KYC and also enhancing security features and to complete the process they need the customer to confirm the PIN/OTP they have received,” he said.

Noting the rampant cases of cyber security fraud, the Malawi Communications Regulatory Authority (Macra) has urged the general public to report the cases. According to Macra, 200 reports have been received thus far. 

In 2019, Macra started implementing the National Computer Emergency Response Team (Cert), which will take charge of Malawi’s information infrastructure protection actions and serve as a base for national coordination to respond to information and communication technology security threats