Warning: RainFin brand name being used by scammer

Jul 24, 2017 Blog  Warning



It has come to our attention that the RainFin brand name is being used by a scammer in order to gain access to banking information.  The scammer sends an e-mail notifying unsuspecting users that their loan application is approved and requests designated banking details in order to transfer funds into.

Neither RainFin, nor any other legitimate business will ask for banking details via email.  RainFin’s processes are online (www.rainfin.com) and adhere to FICA and POPI legislation. As such capturing of banking details, and personal details, is facilitated by our password-protected RainFin system, which makes use of Thawte, a certificate authority for authentication and encryption, for the signage of contracts and data protection.

If you receive an email requesting you to confirm banking details from anybody posing as RainFin, chances are good that it is a phishing scam. For your safety such requests should be ignored!

Phishing, as in fishing for confidential information, happens when someone attempts to fraudulently obtain and uses your personal or financial information through fraud.

So how does it work?  You receive an e-mail which appears to originate from a well-known, reputable entity.  The message explains a believable reason why you must “verify” or “submit” confidential information by clicking a link in the message.  It appears that this link goes to the website of the financial institution, but in phishing scams, the website belongs to the scammers.  Once inside the fraudulent website, you may be asked to provide account numbers, passwords or other personal information.  When you provide this information, the scammer has access to your account or your identity.

If you are concerned about the authenticity of a request for information you receive, it is always better to contact the company directly for validation, thereby ensuring that your identification and privacy is not violated.

Image: Tomaso Petruzzi via Flickr (CC 2.0resized)

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