Living in a digital-first era means that technology is ingrained in how we live and work. It also means online scams are becoming more common and increasingly sophisticated – evolving from email phishing, to Smishing (SMS phishing) and vishing (voice phishing).
Scams target everyone including businesses so aside to implementing company-wide security measures, it’s best to remain vigilant to proactively safeguard information especially sensitive data with some of these best practices.
1. Spot signs of impersonation scams
Phishing, smishing and vishing are common tactics used by scammers to trick users into revealing sensitive information by impersonating banks, service providers or government officials. Scammers often request verification of account or company login details, or create a sense of urgency by demanding overdue payments for recurring services. These scams typically prompt you to provide your login credentials or revalidate your bank account details through a malicious link disguised as an official website.
Do remember to only access ANEXT Bank’s official website (www.anext.com.sg) and install our mobile app from official app stores (e.g. Apple App Store, Google Play Store and Huawei AppGallery). Learn how to decode other phishing strategies here.
2. Keeping security measures up to date
Keeping company computers and mobile devices’ operating system security up to date by turning on automatic updates is one way to bolster your online defence. Another simple tip to safeguard your computers and relevant account accesses is to regularly update your password every three months and ensure it contains at least one uppercase letter, lowercase letter, a number or symbol and the full password should not be less than 8 characters. You can also ensure your password is not easily deciphered by avoiding the use of common information such as your birthday, identification number or consecutive numbers.
A lesser-practised, but still an essential security measure includes cyber security training – consider incorporating this for all employees as part of the onboarding process and conduct refresher sessions.
3. Be aware and mindful of what you share and with whom
Never share any personal information over a call, email or text with anyone that claims to be a representative of the organisation. ANEXT Bank will never ask you for your company or personal credentials, login password and/or one-time passwords. Also get into the practice of verifying email requests for sensitive information especially if you’re not expecting it.
4. Stay alert and transact securely
While it may appear simple, checking web addresses can be your first line of defence. Phishing sites often mimic the actual website, including the same words or phrases of the original web address so don’t click on such links that you may receive via emails, SMSes or pop-up windows. Stay alert to requests requesting for help with money transfers as you may unknowingly be roped in money laundering activities. Do also monitor your finances regularly by cross-checking your monthly account statements against your intended transactions and it may help to detect any irregularities.
5. Don’t panic and act immediately
It’s always safer to err on the side of caution. Temporarily suspend your ANEXT Business Account if you notice any suspicious transactions or suspect fraud. Rest assured, we only suspend outgoing transactions to minimise disruptions to your business. You may also reach us to do the same at 1800 268 8888 or (65) 6813 3688 from 9:00am – 6:00pm, Monday to Friday except Public Holidays.
