FNB denies staff involvement in eWallet scam

First National Bank (FNB) Namibia has set the record straight that the bank’s staff are not involved in the eWallet scam and that cases reported are a result of clients compromising their One Time Pins (OTPs). The scam impacted 788 transactions between August 2022 and August 2023, with a total value of N$600 000.

The Head of Transactional and Digital Banking Yeoman Hamilton during a press briefing on Monday explained that when a customer is informed by the bank that their OTP was comprised, this is the 4 digit number that was shared previously sometime in the past. It is not at the point that the eWallet is taken by the fraudster, using the 5 digit Personal Identification Number (PIN) generated at that point in time, he explained.

OTPs are used when linking eWallet on the FNB App, cardless withdrawals at the ATM and online purchases, while PINs are used when withdrawing an eWallet, using a debit or credit cards at ATMs and swiping machines as well as when opening the FNB App.

Customers are urged to remain vigilant and protective of personal information. The bank will never ask for your OTP or PIN, Hamilton stressed.

Meanwhile, Nanagula Kauluma, Executive for Retail Banking stated that the bank remains seriously concerned about the way opportunistic criminals are exploiting customers in order to obtain critical information that enables the m to employ their criminal scheme.

The bank is working with law enforcement to bring perpetrators to task and some individuals have already been apprehended, she said. [email protected]