FNB customers play a role in securing their e-wallets says Bank

By: Josia Shigwedha

First National Bank Namibia has stated that customers are at risk of losing their funds by sharing their One-Time Pins with anyone.

Thus, the bank reminded customers that they, too, play a role in maintaining their security as the last line of defence.

According to the First National Bank Namibia, approximately 0.06% of N$ 1.3 million e-Wallet holders, and 788 transactions in the period of August last year to August 2023 have been impacted as a result of fraudulent activities.

Speaking at a press conference today, FNB compliance manager, Nesdha De Jongh, said that the e-Wallet in itself is secure with the (OTPs).

“Customers are sharing their OTP numbers because remember, that OTP number is a confidential number just for you. It is system generated, not even us who work in the bank will be able to see that. That OTP goes directly to you, the only person that has access to that OTP is you as the customer. So the moment you share that OTP, another person can now access your App and through accessing your App or your account, it’s being compromised, and they can send money through that. So in all instances, we are creating a lot of awareness, urging them not to share that OTP with anyone regardless of what happens,” stated De Jongh.

When News On One asked if there’s a possibility these could be an inside job, this is what De Jongh had to say.

“We basically investigated this from all angles, and unfortunately it’s not an inside job because, as I have alluded earlier, we that are within the bank can not also view your OTP. The only person that can access your OTP is you. So the possibility of that happening internally is zero,” explained De Jongh.

When asked if the bank would refund the affected customers, De Jongh responded in the negative.

“The moment you share the OTPs, we can unfortunately not refund you because that happened basically from your perspective but not from the bank’s side”.