Ver Angola

Banking and Insurance

Bank card fraud doubled in 2022

Debit card fraud in Angola doubled in 2022 compared to the previous year, with a total of 4,587 occurrences recorded against 2,294 in 2021, said the EMIS interbank company.

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The information was transmitted this Tuesday by the executive director of EMIS, an Angolan interbank services company, Joaquim Caniço, pointing to robberies and thefts of ATM cards, "due to people's carelessness or inattention", as the main criminal typologies.

The official, who was speaking at a press conference to present the "Digital Citizen" project, to promote literacy in the use of electronic payment systems, noted that fraud using "Multicaixa Express" had decreased this year.

"These (scams via Multicaixa Express) registered a decrease. In 2021, we had about 594 scams and so far we have 170, which means that we have a reduction of around 424 scams", he explained.

Joaquim Caniço referred that the reduction of scams via Multicaixa Express stems from "efforts and measures" that the company has been developing, especially among users, seen as the weakest link, among them this "Digital Citizen" project.

Nowadays, explained, at the time, Duano Silva, another executive director of EMIS, the most frequent frauds "are the cloning of cards, it means that groups of criminals manage to copy the band of the card"

"And with the reinforcement we made in investments, we changed the type of cards with the introduction of a new type of cards that have a small chip, where the information is and, as it is inviolable, it greatly reduces the number of frauds with the cloning of cards" , he stressed.

The exchange of ATM cards at ATMs is the other type of fraud that is very common in Angola, as Duano Silva highlighted, assuring that the project now presented "also comes to alert for greater attention with the reinforcement of citizens' education"

"That's why we made a lot of investments to validate, for example, in terms of Multicaixa Express membership, the customers' mobile number associated with their bank account", he concluded.

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