When you think of card fraud, you might picture a sophisticated hacker breaking into systems.
But the truth is, card fraud often starts with something far simpler-and much closer to home.
Imagine waking up to a notification about a transaction you didn’t make or discovering your child or relative used your debit card for an online shopping spree on a website you’ve never heard of.
It sounds amusing at first, but the implication of fraud is far less funny.
It can disrupt your financial stability and drain your hard-earned money instantly. Card fraud costs consumers billions of dollars every year, and it doesn’t always involve high-tech schemes. Sometimes, it’s as simple as someone stealing your card details during a routine transaction or tricking you into clicking on a fake email that promises free rewards. Kaa Chonjo!!
Card fraud can happen when your card details aren’t properly safeguarded-for instance, if the card is out of view or sensitive information is shared by mistake.
Here are some common ways your card can be accessed illegally:
• Phishing scams: Fraudsters trick you into revealing your card details through fake emails or websites.
• Skimming devices: Hidden devices at ATMs or payment terminals steal your card information.
• Card Misplacement: Leaving your card unattended or sharing your PIN with others can expose you to fraud.
Fortunately, with the right knowledge and precautions, you can protect yourself from falling victim to these schemes. As an Equity Bank customer, here’s how to protect yourself
• Never share your card or pin details
• Keep your card safe or always in sight
• Report suspicious or unauthorised activity immediately
Equity Bank prioritizes your security by implementing advanced measures to protect your money, no matter where or how you transact.
• Chip-and-PIN Technology
Equity’s cards are equipped with advanced chip technology, making them far more secure than traditional magnetic stripe cards. When you use your card at a merchant terminal, the PIN you enter acts as your personal security lock, ensuring only you can authorize the transaction. For contactless payments (tap-and-go), the bank has set low transaction thresholds to minimize risk, making it ideal for quick, low-value purchases.
• 3D Secure for Online Shopping
Shopping online is convenient, but it can also be risky. That’s why Equity has added an extra layer of protection with 3D Secure technology. Every time you make an online purchase, it sends a one-time PIN (OTP) to your registered phone number. This ensures that only you can complete the transaction, giving you peace of mind when shopping on your favourite websites.
• Real-Time Alerts
Picture this: every time a transaction hits your account, you get an instant alert. Real-time notifications keep you in control-whether it’s a purchase you recognize or one you don’t. And if something feels off, you can block your card right away using Equity’s mobile app or online banking. If you have changed your mobile number, kindly visit your branch to update your records to keep getting important alerts.
• Self-Serve Blocking
Time is of the essence when dealing with fraud. That’s why with Equity, it’s easy for you to take control. If you suspect your card has been compromised, you can block it instantly using the Equity Mobile App or Equity Online or dial *247#. No need to wait-your security is in your hands.
• Dedicated Fraud Monitoring
Behind the scenes, a dedicated fraud monitoring team works around the clock to protect your transactions. Using advanced systems, they continuously analyze patterns to detect and action on suspicious transactions.
Equity Bank doesn’t just stop at protecting your money-it empowers you with knowledge. Through public awareness campaigns and ongoing training for its staff, it ensures that both you and the team are equipped to prevent and handle card fraud effectively. Equity is also constantly upgrading its systems and processes to stay ahead of emerging threats.
If You Ever Suspect Fraud
• Call 0763 000 000 (available 24/7).
• Self-Serve Blocking: Use the Equity Mobile App or Equity Online.
• Visit a Branch: Staff will assist you.
Protect your money and your peace of mind by staying vigilant. For more information, call 0763 000 000, click Secure Banking Tips | Equity Bank Kenya for more card safety tips or visit your nearest Equity branch.