Fake alerts have become rampant these days. The resulting effects of a fake alert include loss of property and losses. This has caused people to opt for the physical payment of goods and services before exchange. As a result, people and businesses alike have controlled the way they operate their business. In this article we would check out fast ways to identify a fake transaction alert.
First, let us define bank alert
What Is A Bank Alert?
Bank Alert are important notification sent by banks to account owners. These provides realtime updates on their financial activities. These help you to monitor and observe the activities of your account. It helps you to detect frauds very easily. There are different kind of Bank Alert. This includes sms alert, email notifications and app notifications.
These alerts helps businesses and individuals to receive tumely update as regards their account. These bank alerts maybe an increase or decrease in your funds. Also, it can be an helpful tip to keep your account in top shape.
What Are Fake Bank Alerts?
Fake bank alerts are deceptive tactics used by people to make a transfer look genuine. However, in reality, it is not. This alert usually exists in situations where the customer has to receive money for the exchange of his goods or services. The sender who is unknown to this idea sends the goods without receiving the money in his account.
How To Detect Fake Transaction Alert
Fake alerts can cause a devastating effect on your business. Therefore, it is pertinent to know the process of detecting fake alerts.
1. Sense Of Urgency From The Sender
When a customer is pressuring you to send a goods without receiving payment, then this is a red light. Do well to confirm payment before sending the goods to the clients as this may make you fall victim to a fake alert.
2. Error In Spelling
A real bank alert does not contain grammatical errors. On the other hand, a fake transaction alert may have errors in spelling or grammar.
3. Inconsistency In Sender Details
There are always mismatches when it comes to the sender details. Sometimes, there may be errors in the sender or receiver’s name. This calls for your urgent scrutiny of your balance to see if the money has really entered.
4. Suspicious Links
Usually, fake bank alerts come with suspicious links. These links are done to obtain the victim’s details. A real bank would never send you link via text message. When you receive this, do well to contact your bank for further information.
5. Funds Does Not Reflect In Your Account
Most times it may take a long period of time before it comes into your account. Fraudsters are aware of this and take advantage of this medium. They use this strategy to claim they have sent money to your account. Therefore, make sure you contact your bank for further information. Do not send a product to a third-party without receiving any alert. However, bank alerts are usually instant. So, do not give in to any pressure.
6. It Does Not Show Your Available Balance
There is a rule of double entry which states: For every debit entry, there must be a corresponding credit entry. Therefore, when there is a debit transaction, the other banks are expected to receive the money immediately. So, ask your customer to provide a debut alert in his phone before sending the goods to him. Do not be in a hurry to send your goods to someone who has not paid money.
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How To Prevent Getting Scammed By Fake Alert
Here are tips to prevent getting scammed by fake alert:
1. Ask for Payment Receipt
The first and most used method is to ask for a payment receipt. Every transaction always results in a bank sending you a receipt. So, do well to ask for a payment receipt when you intend to send goods to another person. Ask them to send a screenshot or better still a pdf confirming the transaction.
2. Verify The Sender’s Information
The next step involves verifying the sender’s information. You must take your time to see if the sender’s information agrees with the one you have. In some cases, a person may use the service of a POS agent. Do well to ask for the receipt from a POS agent and verify the details there with the one you have.
3. Be Patient And Get A Confirmation From The Bank
Do well to remain patient and get confirmation from your bank. Prior to this, set your banks notification to ‘Always receive alert’. This would help you receive alerts immediately for every transaction you have. Better still, you can login to your bank app and see the records.
4. Educate your Employees and staff
Do well to notify your employees on the risk of fake alerts. Explain to them the dangers of fake alerts.
Conclusion
The suggestions listed above are very practical. They can be used to detect a fake alert from a real one. Also, do well to get the police involved in the fake alert. This can go a long way in encouraging people to pay up on time.
