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TOP TEN WAYS YOU CAN PROTECT YOURSELF FROM FRAUDULENT CHARGES ON YOUR ATMDEBIT CARD

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TOP TEN WAYS YOU CAN PROTECT YOURSELF FROM FRAUDULENT CHARGES ON YOUR ATM

TOP TEN WAYS YOU CAN PROTECT YOURSELF FROM FRAUDULENT CHARGES ON YOUR ATM/DEBIT CARD

 

When you use an ATM or debit card, it’s important to understand the precautions that can help protect your account from being compromised. While we all rely on our financial institutions to secure our accounts and provide us with a safe place to store our money, there are things you can do to ensure that your money stays safe.

Here are ten tips for protecting yourself against fraudulent charges on your ATM/debit card:

Monitor your account balances and transaction history.

You should check your account balances and transaction history periodically. It’s also important to know the bank or credit union you’re using is secure.

If you see something suspicious, contact your bank or credit union immediately. If it turns out to be fraudulent activity, they can help you dispute the charge and protect your money from being stolen by criminals.

Keep your card in a safe place at all times.

If you want to protect yourself from fraudulent charges on your ATM/debit card, you must keep your card in a safe place at all times. This means that it shouldn’t be left in your purse or wallet, which could easily be stolen (or lost).

It also shouldn’t be left in the car—if someone breaks into your vehicle, they will likely see and steal any valuables they can find. The same applies if you have an ATM/debit card with you while walking around town: if someone bumps into you or grabs at your pockets, there’s a good chance they’ll grab the little plastic rectangle with all of its numbers and security codes written on it too!

  • To avoid these situations—and more—make sure that when using an ATM/Debit Card for purchases or withdrawals from banks and other establishments, as well as cash machines (ATMs),
  • always keep both hands on the machine where others can’t see them;
  • never let anyone else touch either side of the said machine unless necessary due to physical limitations; never leave one’s self alone during such activities without knowing exactly what is happening around them at all times;
  • call the local police immediately after noticing anything suspicious about another person using this same machine before doing any further business whatsoever with them;
  • don’t forget about fingerprint identification technology used by many larger financial institutions today so make sure yours has been updated recently if not already done so within last ten years or so before attempting access again!

Cover the keypad when you enter your PIN into the PIN pad.

  • Cover the keypad when entering your PIN.
  • Use a hand or other object to cover the keypad as you enter it so that no one looking over your shoulder can see what you’re typing. This also prevents them from reading any light emitted from the keypad and helps prevent skimmers from stealing information.
  • Use an ATM instead of a store counter when possible. The machines at stores are often smaller and more likely to be positioned in a place where people are standing behind them (for example, in front of the cash register), which means there’s less privacy for anyone using that ATM.

If you give someone your ATM/Debit Card number, do so only as a last resort.

If you give someone your ATM/Debit Card number, do so only as a last resort. If someone else needs your card number, make sure it’s only for something you trust them to do. Don’t give out your PIN either.

If someone calls and says the bank needs to verify a transaction on your account or fix something with the automated system, don’t give them any information without first calling the bank yourself and verifying that it’s legitimate (at this point, there is no way for an imposter to know whether or not they need to verify transactions on your account).

Be cautious of people looking over your shoulder when you make a transaction.

  • Be cautious of people looking over your shoulder when you make a transaction.
  • Don’t let strangers get close to you.
  • Don’t let strangers see your PIN.
  • Don’t let strangers see your card or even the numbers that can be deciphered by observing where they are located and how they are printed.
  • Don’t tell anyone what your account balance is, who uses the account regularly (especially children) when bills will be paid (especially if it’s a payday), or any other information that could help someone with ill intent gain access to one of these accounts and make purchases using them.

TOP TEN WAYS YOU CAN PROTECT YOURSELF FROM FRAUDULENT CHARGES ON YOUR ATM

Ask if the terminal is working properly before inserting your card.

The first thing you should do is ask the person using the machine if it is working properly. If they say yes, proceed with inserting your card into the slot on top of the device.

If they respond with a shrug or an expression that says “I don’t know,” don’t use it! This could mean that either their card has been compromised and fraudulent charges are being made from other ATMs, or someone has tampered with this specific ATM to steal money from anyone using it.

If there are any suspicious signs about the machine (such as visible damage), don’t use it! You may think that you are fine because everything looks okay, but there could be something hidden behind those covers where plastic has been placed over small holes through which data can be transferred wirelessly without your knowledge.

Some thieves will even put fake buttons around these areas, so people will think they have pressed one when in fact, nothing happens at all except for them handing over their PINs and money to criminals who now have access to an unlimited amount of cash thanks to technology’s ability to make things work perfectly fine even when they aren’t working at all!

Be wary of requests for your account information over the phone or Internet by someone who claims to be a representative of your bank or credit union.

The bank will never ask for your account information over the phone or Internet. If you receive a call from someone claiming to be a representative of your bank or credit union, hang up and call the company directly to verify their identity.

If you are asked for your password, even if it’s supposedly needed to help protect against fraud, do not give it out.

When ordering checks, choose delivery methods secured by signature only (no delivery to mailboxes).

  • Signature-only delivery. Please choose this option, and your checks will be delivered to your door with a signature required for them to be left on the doorstep or inside.
  • No delivery to mailboxes. Do not allow checks to be left at mailboxes or in mail slots, as there is no way for you (or anyone else) to verify that they weren’t stolen from there after being delivered by mistake!
  • No email delivery. This allows anyone who has access to the Internet and knows your account number or routing number (which can often be found online via a simple Google search) access your bank account information without any authentication whatsoever!
  • No electronic delivery (including but not limited to: text messages and phone calls). Although these are convenient methods of contact with businesses when dealing with fraudsters who pose as representatives from banks who falsely claim there’s been some problem detected with their accounts, please don’t fall for it!

If it were real, then those companies would contact people directly through those methods instead of just contacting them via email anyways, so please remember never to give away any personal info over social media like Facebook Messenger because someone could easily hack into it by pretending they’re someone else entirely like maybe even one day pretending they’re somebody close enough friend whom may know another person who should get hacked first before

If you are uncomfortable doing business with a merchant, use an alternative form of payment.

If you are uncomfortable doing business with a merchant, use an alternative form of payment.

If you’re uncomfortable with a merchant, use cash instead. It’s as simple as that. However, if they won’t accept your debit card and your only other option is cash, then take the hint and go elsewhere!

You can also try using your credit card instead of debit because it is protected differently under the law than debit cards are (but beware—credit cards can still be used without your approval).

If the store is refusing to refund or exchange an item even though it was defective or damaged when purchased, try calling the corporate office (if there’s one) or contact their customer service line.

If you are expecting a replacement card or new checks that do not arrive after a reasonable period, call your bank or credit union.

If you are expecting a replacement card or new checks that do not arrive after a reasonable period, call your bank or credit union. If you lost your card and did not report it immediately, there is a chance that someone could have used your information to make purchases on their account. This can be very dangerous if someone who has stolen your information is illegally using it.

If your card is lost or stolen, report it immediately! Thieves are usually looking to steal ATM cards because they allow quick access to money without requiring face-to-face interaction. Often there are fees associated with these kinds of transactions.

Hence, if possible, try not to use ATMs in unsafe areas such as dark alleys if at all possible because this can increase risk exposure significantly as well as cause trouble if something goes wrong during the transaction process itself (e.g., getting stuck in line behind someone who doesn’t realize how much longer they need so they stay put while others move forward while waiting).

Good habits help protect you from fraudulent charges!

Here are some good habits that can help protect you from fraudulent charges:

  • Keep a close eye on your account. Always check your bank statement for any suspicious activity, even if it’s only once every few months. If something looks out of place or seems like a charge that shouldn’t be there, call the bank immediately to report it and get it resolved before too much money is taken out of your account.
  • Check ATMs regularly for skimming devices—thieves use small devices to steal information from cards as they slide them through card readers at ATMs or gas stations (or anywhere else where people swipe their debit cards). Look around at other people standing nearby before you swipe to ensure there isn’t anyone lurking nearby with nefarious intentions; if all seems clear, go ahead and take out some cash!
  • Never use an ATM unless it belongs directly to a branch of your bank; this means no chain-store ATMs or ones in retail stores like Walmart and Target—they’re less secure than bank machines because there’s often no camera monitoring their operation (and thus less evidence if something goes wrong). If you have trouble getting cash from one branch of the same bank as another across town due to heavy demand, try going during off hours instead; otherwise, wait until later when things have cooled down again.

Conclusion

You can help protect yourself against fraudulent charges by following these tips. The key is to be aware of your surroundings, keep your card in a safe place and cover the keypad when entering your PIN.

If you give someone your ATM/Debit Card number, do so only as a last resort and always ask if the terminal is working properly before inserting your card into it. Be wary of people looking over your shoulder when making transactions at ATMs, over the phone, or on the Internet by someone who claims to be a representative of your bank or credit union.

Also, choose delivery methods secured by signature only (no delivery to mailboxes) when ordering checks. Always remember, if you are uncomfortable doing business with a merchant, use an alternative form of payment such as cash or another credit card!

Finally, if you expect replacement cards or new checks after a reasonable time has passed, call the customer service department immediately!

 

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BANKING

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

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African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises

The African Development Bank Group (www.AfDB.org) and Standard Bank Group (SBG) on Monday signed a landmark financial agreement to enhance funding for small, medium, and micro enterprises (SMMEs) and expand trade across Africa.

The agreement includes a R3.6 billion investment in a social bond and a $200 million Risk Participation Agreement (RPA) for Standard Bank of South Africa Limited (SBSA). This initiative strengthens Standard Bank’s lending capacity, ensuring greater access to finance for SMMEs, a critical driver of economic growth and job creation in South Africa.

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises

The social bond investment promotes inclusive economic development, particularly for SMMEs with a turnover below R300 million and loan sizes under R40 million. This financing will support up to 4,000 businesses, helping them scale operations, create jobs, and contribute to economic resilience.

Kenny Fihla, Deputy Chief Executive Officer of Standard Bank Group and Chief Executive Officer of SBSA, welcomed the investment, stating: “This landmark partnership strengthens our ability to support SMMEs, the backbone of South Africa’s economy. With approximately 3.2 million SMMEs accounting for 60% of jobs, ensuring access to finance is crucial. This initiative aligns with our Sustainable Finance Framework and our commitment to financial inclusion.”

In addition to the social bond, the $200 million RPA enhances trade finance across Africa, focusing on Low-Income Countries and Transition States. This agreement enables local banks to increase lending by sharing risk, bridging the trade finance gap, and promoting intra-African trade.

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

African Development Bank and Standard Bank Unite to Support Small, Medium, and Micro Enterprises (SMMEs) and Boost Trade

Leila Mokaddem, Director General for Southern Africa at the African Development Bank, highlighted the broader impact: “This collaboration marks a significant milestone in our long-standing partnership and is a testament to our shared commitment to supporting SMMEs’ growth and enhancing trade finance across Africa. Expanding financial inclusion and trade opportunities empowers businesses to drive economic transformation and regional integration. The Standard Bank Group remains a strategic partner in our shared vision for economic development on the continent.”

This initiative aligns with the African Development Bank’s Ten-Year Strategy (2024–2033), which prioritises industrialisation, regional integration, and improving the quality of life in Africa. It also supports Standard Bank’s Sustainable Finance Framework, reinforcing both institutions’ commitment to fostering green and inclusive growth.

“We are proud of this transaction, demonstrating our shared commitment to sustainable financing. By supporting businesses, we create long-term economic opportunities and financial resilience,” stated Ahmed Attout, Director of the Financial Sector Development Department at the African Development Bank.

Kenny Fihla reaffirmed the significance of the collaboration:

“By providing much-needed capital, we are helping enterprises overcome challenges and thrive. This partnership illustrates the power of collaboration in driving meaningful economic and social change in Africa.”

 

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The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

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The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB), has reinforced its position as a key player in the Islamic syndications market, achieving prominent rankings in the 2024 Bloomberg and Refinitiv League tables.

The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

The International Islamic Trade Finance Corporation (ITFC) Maintains Leadership in Global Ranking of Islamic Syndications for 4 Consecutive Years

For the fourth consecutive year, the ITFC top-tier performance reflects a strategic focus on delivering impactful trade finance solutions. For 2024, Refinitiv ranked ITFC as Globally # 1 Bookrunner and Mandated Lead Arranger (MLA) in their Islamic Syndications League table. Additionally, and Bloomberg also ranked ITFC among the top Bookrunners and MLA in the Islamic Syndications League table. These rankings are a testament to the ITFC ability to consistently deliver value-driven results and maintain a strong position among leading international and regional financial institutions.

The recognition from Refinitiv and Bloomberg confirms that ITFC is a key player in facilitating trade among OIC member countries. This not only reaffirms the ITFC status as the pre-eminent provider of trade solutions but also underscores its remarkable ability to draw investments from a wide spectrum of global investors and financial institutions.

Additionally, it emphasizes the positive impact on the lives and livelihood of people inherent in the ITFC business operating model, demonstrating its effectiveness in meeting the unique financial needs of OIC member countries.

The Refinitiv and Bloomberg League tables rank banks and financial institutions based on their performance in loan syndications, bonds, and mergers and acquisitions (M&A) transactions. The rankings, including arrangers, bookrunners, administrative agents, and advisors, are published quarterly and annually.

Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
About the International Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is a member of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving socioeconomic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity building tools, which would enable them to successfully compete in the global market.
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Afreximbank and Kenyan government ink milestone agreements to promote industralisation

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Afreximbank and Kenyan government ink milestone agreements to promote industralisation

Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing

African Export-Import Bank (Afreximbank) (www.Afreximbank.com), Africa’s foremost trade development Bank, today in Mombasa, Kenya, ratified a series of initiatives designed to support Kenya’s industrialisation and export-led development agenda. Under the terms of the initiatives, formalised at a signing ceremony with the Kenyan authorities, Afreximbank will finance the development and operationalisation of industrial parks (IPs) and special economic zones (SEZs) to bolster the country’s industrialisation and export manufacturing.

Afreximbank and Kenyan government ink milestone agreements to promote industralisation

Afreximbank and Kenyan government ink milestone agreements to promote industralisation

The proposed industrial parks, to be developed by Afreximbank through its affiliate company, Arise Integrated Industrial Platforms (Arise IIP), will create and sustain an environment in which export-oriented industries can thrive, by leveraging economies of scale, shared infrastructure and access to global markets.

Two projects to be undertaken by Afreximbank, with the support of the Government of Kenya and other strategic collaborators, are the development of the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II (Naivasha II), for which, having secured leases of the relevant land, Afreximbank intends to leverage the expertise and experience of Arise IIP, a special economic zone developer with experience in the development of integrated industrial parks in Africa.

Both the Dongo Kundu Integrated Industrial Park and the Naivasha Special Economic Zone II are included in the Fourth Medium Term Plan (2023-2027) of the Kenyan government’s Vision 2030, entitled “Bottom-Up Economic Transformation Agenda for Inclusive Growth”, reflecting the high priority which state institutions are giving to measures that strengthen, expand and accelerate Kenya’s capacity to export value-added goods within Africa and globally.

Speaking on the signing, the President of the Republic of Kenya, H.E. Dr. William S. Ruto said; “We have a responsibility to steer the country in the right direction, harnessing the immense potential of manufacturing, industrialization, agro-processing, and value addition within Special Economic Zones. The signing of these agreements today marks a significant milestone in Kenya’s development, expanding opportunities to enhance our manufacturing sector and create a more conducive environment for investment. We convene here today to sign an investment – and not a loan – undertaken by people whose faith in this country and its possibilities motivates their decision. This is our country, let’s continue to do whatever it takes to make it an attractive destination for those who want to invest.”

In his own comments, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said:

“Africa has been heralded as a land of opportunity, blessed with resources that power the world. Yet, we have struggled to translate this wealth into lasting prosperity for our people. For decades, we have watched as others reap the rewards of our natural resources, leaving us tethered to a cycle of dependency—exchanging our riches for aid and loans that kept us on the fringes of the global breadbasket.

“Those days are behind us. Today, Kenya takes a bold step to reshape this story in a profound and impactful manner. These Parks are an integral part of the Government’s plan to boost the country’s economic growth under the Vision 2030 development blueprint.

Today’s signatures are more than ink on paper—they are a promise to the people of Kenya, a pledge that the country will rise as a beacon of industrial might and self-reliance.”

Mrs. Oluranti Doherty, Managing Director of Export Development at Afreximbank, and Captain William K. Ruto, Managing Director of the Kenya Ports Authority, signed the Dongo Kundu Special Economic Zone agreement. Dr. Kenneth Chelule, Chief Executive Officer of the Special Economic Zones Authority, and Mrs. Doherty signed the Naivasha Special Economic Zone agreement, with H.E. Dr. William Ruto, President of the Republic of Kenya, and Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, witnessing the signing of both agreements for the State and for the Bank, respectively.

The Dongo Kundu Industrial Park within the Mombasa SEZ is expected, upon completion, to boost the area with a state-of-the-art industrial park that will contribute significantly to economic growth and industrialisation efforts in Mombasa County and in Kenya as a whole.

The Naivasha II Special Economic Zone – Naivasha II project is located at Mai Mahiu and will include a free trade zone, an industrial park, a logistics zone and a public utility area with a supporting road network. The project will occupy an area of approximately 5000 acres.

The Naivasha II project will also derive value from its strategic geographic position as it sits on the gateway to East and Central Africa through the Northern Corridor Transport System, which comprises both a standard gauge railway and a major highway. Moreover, the SEZ will be close to the Naivasha Inland Container Depot, which serves the East African hinterland countries of Burundi, the Democratic Republic of Congo, Kenya, Rwanda, South Sudan and Uganda.

Other dignitaries in attendance included Mrs Oluranti Doherty, Managing Director, Export Development, Afreximbank; Hon. Davis Chirchir E.G.H, Roads and Transport Cabinet Secretary; Hon. Hassan Ali Joho, Cabinet Secretary for Mining, Blue Economy and Maritime Affairs; Hon. Salim Mvurya, Cabinet Secretary for Youth Affairs, Creative Economy and Sports of Kenya and Honourable Lee Kinyanjui, Cabinet Secretary, Ministry of Investment, Trade and Industry. Additionally, Captain William K. Ruto, Managing Director, Kenya Ports Authority; Dr. Kenneth Chelule, Chief Executive Officer, Special Economic Zones Authority; His Excellency Abdulswamad Shariff Nassir, Governor of Mombasa County; the Honourable Benjamin Tayari, Chairman, Kenya Ports Authority, and Mr. Fredrick Muteti, EBS, Chairperson, Special Economic Zones Authority attended the event.

Distributed by APO Group on behalf of Afreximbank.
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industralisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
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