Question

Hundreds of a bank’s customers have called the customer service call center to complain that they are receiving text messages on their phone telling them to access a website and enter personal information to resolve an issue with their account. What action should the bank take?

Answer 1

Answer:

Customer enlightenment is the key. The bank should communicate with customers and inform them they never asked them to provide their personal information to such a website or an unknown source. I explain steps to take to avoid such fraudulent text messages. If they have responded to such messages, the bank should also guide the customers on steps to take to recover their stolen money.

Explanation:

Customer enlightenment is the key. The bank should communicate with customers and inform them they never asked them to provide their personal information to such a website or an unknown source. I explain steps to take to avoid such fraudulent text messages. If they have responded to such messages, the bank should also guide the customers on steps to take to recover their stolen money.

Some measures to be taken by both the banks and the customers are as follows;

• The customers should be careful not to call any number people send to them rather they should get any information they need by going to the bank or search for such information on the bank official websites.

• Customers should be alert and think carefully before sharing any financial details

• For customers that responded to such messages, the banks will be proactive enough to shut it down and retrieve the customer's funds the same day.

• Customers are advised to always report such fraudulent messages when received.

• Banks should frequently verify transactions through telephone or text messages whenever an unusually high or out of the ordinary payments are flagged by its automated systems.

• The bank can also prevent this fraud by blocking the customer card whenever an unusual transaction is noticed. The customer will then be contacted to confirm if the transaction was genuine or not. At times the transaction may need to be attempted again.