How to protect yourself from fraud and identity theft when sending money home

Fraud and identity theft causes thousands of people to lose their hard-earned money every day. Here at Mama Money, we guarantee the safety of your money and have put in place security measures to ensure your transfers are safe from any fraudulent activity. 
 

A few common money transfer scams to look out for

Phishing scams

In some scams, the fraudsters will try to impersonate a well-known brand or company in order to get hold of your personal details. For example, they will try to make you believe that you are being contacted by your bank, a money transfer service or even customer support in order to gain your trust. Once they have your details they are able to steal the money directly from your account without your consent. 

Online shopping scams

One of the most popular scams today is where the fraudsters pose as online sellers to create a fake retailer website to rip off unsuspecting shoppers. The shopper will find that they have paid for an item that either does not exist or is a fake. 

Email scams

Email is one of the most common ways that scammers will reach out to you to try to commit fraud. The emails will include an offer to send you money but in reality the money is not real. The scammer will try to get your personal details or bank account information and usually the messages will end in a money transfer request. 

Lottery scams

Money transfer scams are often discussed as lottery prizes. You may receive a text message or email telling you that you have won big but to claim the winnings you will need to pay a small fee to cover customs or taxes. This is usually a scam and should be avoided.

Helpful tips to avoid fraud and identity theft online

• We recommend never giving out any personal information during a phone call or text message
• Always create a strong password for your account that is difficult to guess so that your account cannot be hacked
• Be careful of how much personal information you share on your social media accounts such as Facebook or Instagram. Scammers can use your personal information shared in your posts to target you
• Never send money to anyone you don’t know personally
• Use reputable money transfer services—such as Mama Money—to help guarantee the safety of your money

How to keep your Mama Money account safe 

1. Whenever you pay for Mama Money orders, make sure that the order was created on your account. 
2. Always ensure that you have the latest Mama Money App installed on your phone to enjoy the latest security features.
3. Your Mama Money PIN is confidential, never write it down or share it with anyone. Try to avoid using your date of birth or numbers that can be easily guessed such as 1234. Rather choose 4 numbers that only you will know as this will help to keep your account safe.
4. Please note that Mama Money will never call you to verify your personal information or ask for your Card or Mama Money App PIN. If this happens, please notify us immediately.

What to do if your Mama Money card is lost or stolen:

If your card is swallowed by the ATM or stolen, please STOP your card by following the options below:

1. Log onto the Mama Money Family App
2. Dial the following USSD string: *134*542#
3. Contact our Contact Centre on 021 202 5420

How can I safely send money home to my loved ones?

Are you looking for a safe and affordable way to send money home to your family abroad? Mama Money offers the easiest way to send money to your family and friends. 

Our handy mobile app allows you to send money to over 50 countries around the world. If you're based in South Africa and would like to send money to a family member or friend based in Africa, Asia, or Europe, simply use Mama Money.

New to Mama Money? Register an account with us today

To register a new account with us simply visit your nearest Mama Money agent or sign up for an account on your mobile phone by completing these simple steps below:

·         Step 1 - Download the Mama Money app

·         Step 2 - Enter your details

·         Step 3 - Provide proof of your ID

·         Step 4 - Submit a photo of yourself

Once your documents have been submitted using the Mama Money App, your account will be verified within 24 hours, and you can start sending money abroad to your loved ones. 

To find out more about how to protect yourself from fraud and identity theft or the safety benefits of using Mama Money, follow us online via Facebook, Instagram, Twitter, or LinkedIn. 

The Mama Money Card

The Mama Money Card is a new way to manage your finances with ease and security. This card offers a hassle-free solution to access and use your money, redefining convenience for all our users. Discover all the fantastic features and benefits of the Mama Money Card by visiting our detailed blog post. For any queries or more information, feel free to reach out to us directly on WhatsApp. Your financial management just got a whole lot easier with Mama Money!