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Home Business Banking

Central Bank warns public against online fraud

Adekunle Owolabi by Adekunle Owolabi
November 2, 2025
in Banking
Reading Time: 2 mins read
0
The Central Bank of Eswatini building in Mbabane

The Central Bank of Eswatini building in Mbabane

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Mbabane – The Central Bank of Eswatini (CBE) has urged members of the public to be more cautious when handling online financial transactions, warning that cybercriminals are increasingly targeting individuals who use unsecured internet connections and weak passwords.

Through its official Facebook page, the bank reminded customers that online safety begins with using secure networks. It cautioned that conducting transactions such as checking balances or making payments through public Wi-Fi in cafés, airports or other open spaces exposes users to potential cyberattacks. The bank advised that people rely on mobile data or trusted home networks instead.

The CBE also warned citizens to treat their Personal Identification Numbers (PINs) and passwords as strictly private. It said no one, including bank staff or relatives, should have access to such information. The bank further encouraged the use of strong, unique passwords for banking and email accounts, and recommended activating Multi-Factor Authentication (MFA) for added protection.

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Customers were urged to review their account statements and transaction histories regularly to spot any suspicious activity. The bank said even the smallest unfamiliar charge should be reported immediately to prevent further loss or fraud.

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On scams and phishing schemes, the CBE advised the public to stay alert to deceptive tactics used by fraudsters, who often present fake offers or urgent requests to pressure victims into revealing personal information. It warned that if an offer sounds too good to be true or a caller demands quick action, it is likely a scam.

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Adekunle Owolabi

Adekunle Owolabi

Adekunle Owolabi is a journalist, political analyst, and digital strategist with experience across Africa and the Middle East. He focuses on international diplomacy, promotes digital inclusion, and advocates for a borderless Africa.

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