South Africans lose R2.4 billion to Banking crime as AI-Powered scams target customers — how to keep your money safe South Africans lost an estimated R2.4 billion to digital banking crime in 2025, as criminals used social engineering, banking apps, artificial intelligence and impersonation scams to target customers. The figures were published by the South African Banking Risk Information Centre (SABRIC), which recorded 110,074 digital banking crime incidents during the year. The report shows how banking fraud is shifting away from traditional physical attacks and towards digital platforms, where criminals can manipulate victims in real time and move stolen funds within minutes. Banking app crime accounts for most reported losses Banking app-related crime accounted for approximately 89% of reported digital banking crime cases in 2025. It also represented 70.5% of the total amount claimed by clients. SABRIC said reported digital banking losses increased from approximately R1.9 billion in 2024 to R2.4 billion in 2025. “Digital Banking Crime remains the biggest threat, with reported losses increasing to R2.4 billion in 2025,” SABRIC said. Criminals used a combination of fake bank calls, phishing links, remote-access software and fraudulent payment instructions to gain access to customers’ accounts. In many cases, victims were persuaded to reveal passwords, one-time PINs or card information. Others were manipulated into approving transactions through their banking apps without realising that they were authorising a payment to criminals. Social engineering remains the criminals’ strongest weapon SABRIC said most digital banking crime incidents involved social engineering. This refers to tactics in which criminals manipulate people into disclosing confidential information or approving transactions. Scammers commonly pretend to be: – Bank employees – Police officers – Government officials – Fraud investigators – Delivery companies – Mobile network representatives – Financial service providers The criminals often create a sense of urgency by claiming that an account has been compromised or that suspicious activity has been detected. Victims may then be instructed to move their money to a “safe account”, disclose a verification code or click on a link to cancel a supposed fraudulent transaction. SABRIC said many fraud incidents involved several methods at once, allowing criminals to move quickly from initial contact to financial loss. Artificial intelligence makes scams more convincing Artificial intelligence is also making banking scams more difficult to identify. According to SABRIC, criminals are increasingly able to use AI to create realistic: – Voice recordings – Text messages – Emails – Images – Fake customer-service conversations This means that familiar warning signs, such as poor spelling or unnatural wording, may no longer be reliable indicators of a scam. AI-generated voice messages can also make it appear that a victim is speaking to a family member, bank employee or senior company official. Card fraud losses rise to R1.7 billion Card fraud remained another major concern during 2025, with losses increasing by 18% to R1.7 billion. Card-not-present fraud remained the largest contributor to card-related losses. This type of fraud occurs when criminals use card details for online or telephone transactions without physically presenting the card. However, SABRIC said losses in the card-not-present category declined for both credit and debit cards. ATM attacks and bank robberies decline While digital fraud increased, some forms of traditional banking crime declined. ATM attacks fell by 46%, while cash losses linked to these attacks dropped by 63%. Bank robberies also decreased, with only two incidents recorded in 2025, compared with eight in 2024. The shift suggests that criminals are increasingly favouring remote digital attacks, which can be carried out without physically entering a bank or confronting security personnel. How customers can protect themselves Bank customers should be cautious when receiving unexpected messages or calls about their accounts. Security experts generally advise customers to: – Never share passwords, PINs or one-time passwords. – Avoid clicking on links in unsolicited messages. – End suspicious calls and contact the bank using its official number. – Never install remote-access software at another person’s request. – Check banking app notifications carefully before approving transactions. – Treat requests to transfer money to a “safe account” as a likely scam. – Report suspected fraud to the bank immediately. Banks will not normally ask customers to disclose their full PIN, password or one-time password over the phone. Frequently Asked Questions How much did South Africans lose to digital banking crime in 2025? South Africans lost approximately R2.4 billion to digital banking crime in 2025, according to SABRIC. What was the most common type of digital banking crime? Banking app-related crime was the most common category, accounting for about 89% of reported cases. What is social engineering in banking fraud? Social engineering is the manipulation of victims into sharing confidential information or approving fraudulent transactions. How is artificial intelligence being used in banking scams? Criminals use AI to create convincing messages, images and voice recordings that imitate trusted people or organisations. What should I do if I suspect a banking scam? Contact your bank immediately through an official channel, report the transaction and change affected passwords. Do not continue communicating with the suspected scammer. Are physical bank robberies increasing in South Africa? No. SABRIC reported two bank robberies in 2025, down from eight in 2024

Load More

Advertisement

Features

Kenya cracking down on foreign traders and small retailers? What this mean for Nigeria investment

Kenya cracking down on foreign traders and small retailers? What this mean for Nigeria investment

Why Nigeria is only African excluded from DV-2026 — will DV-2027 be different?

Why Nigeria is only African excluded from DV-2026 — will DV-2027 be different?

Igho Ubiribo: Nigerian-British businessman who died after penis enlargement in Thailand, Davido’s friend linked to NDLEA allegations and other things to know

Igho Ubiribo: Nigerian-British businessman who died after penis enlargement in Thailand, Davido’s friend linked to NDLEA allegations and other things to know

Beyond Poco Lee: how UK courts are handling sexual offence cases involving Nigerians abroad

Beyond Poco Lee: how UK courts are handling sexual offence cases involving Nigerians abroad

JAMB releases 2026 UTME results for underage candidates — how to check

JAMB releases 2026 UTME results for underage candidates — how to check

King Oyo Nyimba: what killed Uganda’s youngest monarch

King Oyo Nyimba: what killed Uganda’s youngest monarch

Advertisement

What's New

Interviews

The internet is no longer human: Who will teach us what to believe?
Interviews

The internet is no longer human: Who will teach us what to believe?

INTERVIEW: Most violent crimes committed by South Africans — public perception, others fuelling anti-migrant violence – Tulani Ngwenya

INTERVIEW: How Saprea fights child sexual abuse through healing, education, advocacy programs – Chris Yadon

INTERVIEW: AuxBrief launch proof that South African Bar is making major strides locally and globally – Rose-Marie van den Bogert

INTERVIEW: Why APRAV is against South Africa’s mediation directive — Gert Nel

Follow us

1
General

Why Canadian Manufacturers Are Fleeing To The US: What You Should Know

2
Top Stories

South Africans lose R2.4 billion to Banking crime as AI-Powered scams target customers — how to keep your money safe South Africans lost an estimated R2.4 billion to digital banking crime in 2025, as criminals used social engineering, banking apps, artificial intelligence and impersonation scams to target customers. The figures were published by the South African Banking Risk Information Centre (SABRIC), which recorded 110,074 digital banking crime incidents during the year. The report shows how banking fraud is shifting away from traditional physical attacks and towards digital platforms, where criminals can manipulate victims in real time and move stolen funds within minutes. Banking app crime accounts for most reported losses Banking app-related crime accounted for approximately 89% of reported digital banking crime cases in 2025. It also represented 70.5% of the total amount claimed by clients. SABRIC said reported digital banking losses increased from approximately R1.9 billion in 2024 to R2.4 billion in 2025. “Digital Banking Crime remains the biggest threat, with reported losses increasing to R2.4 billion in 2025,” SABRIC said. Criminals used a combination of fake bank calls, phishing links, remote-access software and fraudulent payment instructions to gain access to customers’ accounts. In many cases, victims were persuaded

3
General

Hurricane Lowell Hawaii Explainer: What The Storm Is And What A Near-Miss Actually Means

4
Features

Kenya cracking down on foreign traders and small retailers? What this mean for Nigeria investment

1
Top Stories

MultiChoice in crisis: Price cuts, subscriber exodus, and the battle for relevance

2
Features

MultiChoice 50% price cuts: Has Satellite TV era come to an end?

3
Entertainment

Is Osita Iheme dead as rumoured? Here’s what to know

4
Top Stories

MultiChoice announces new DStv and GOtv prices– here’s what customers will pay

1
General

Why Canadian Manufacturers Are Fleeing To The US: What You Should Know

2
Top Stories

South Africans lose R2.4 billion to Banking crime as AI-Powered scams target customers — how to keep your money safe South Africans lost an estimated R2.4 billion to digital banking crime in 2025, as criminals used social engineering, banking apps, artificial intelligence and impersonation scams to target customers. The figures were published by the South African Banking Risk Information Centre (SABRIC), which recorded 110,074 digital banking crime incidents during the year. The report shows how banking fraud is shifting away from traditional physical attacks and towards digital platforms, where criminals can manipulate victims in real time and move stolen funds within minutes. Banking app crime accounts for most reported losses Banking app-related crime accounted for approximately 89% of reported digital banking crime cases in 2025. It also represented 70.5% of the total amount claimed by clients. SABRIC said reported digital banking losses increased from approximately R1.9 billion in 2024 to R2.4 billion in 2025. “Digital Banking Crime remains the biggest threat, with reported losses increasing to R2.4 billion in 2025,” SABRIC said. Criminals used a combination of fake bank calls, phishing links, remote-access software and fraudulent payment instructions to gain access to customers’ accounts. In many cases, victims were persuaded

3
General

Hurricane Lowell Hawaii Explainer: What The Storm Is And What A Near-Miss Actually Means

4
Features

Kenya cracking down on foreign traders and small retailers? What this mean for Nigeria investment

Advertisement

Young CEOS

Founder spotlight: Kelechi Ndieze and the vision behind Africa’s Next Technology Factory

Founder spotlight: Kelechi Ndieze and the vision behind Africa’s Next Technology Factory

Nissi Ogulu: The Multi-Talented Nigerian Making Waves in Music, Animation, and Innovation

Nissi Ogulu: The Multi-Talented Nigerian Making Waves in Music, Animation, and Innovation

INTERVIEW: Meet Kitgak Simon, a Queen Elizabeth Prize for Engineering ambassador and founder of Kitron Green Initiative Hub

INTERVIEW: Meet Kitgak Simon, a Queen Elizabeth Prize for Engineering ambassador and founder of Kitron Green Initiative Hub

What to know about J.D Vance, America’s newly inaugurated vice- president

What to know about J.D Vance, America’s newly inaugurated vice- president

INTERVIEW: Meet Emmanuel Oryiman, the multifaceted artist making waves in Jos

INTERVIEW: Meet Emmanuel Oryiman, the multifaceted artist making waves in Jos

Meet Olajide, FUTA graduate growing a global snack brand

Meet Olajide, FUTA graduate growing a global snack brand

Advertisement

Advertisement

Sports

Tyson Fury vs Anthony Joshua fight status: Is the  heavyweight showdown still happening?

Tyson Fury vs Anthony Joshua fight status: Is the  heavyweight showdown still happening?

The long-awaited Tyson Fury vs Anthony Joshua fight is still not officially off, but its path to the ring has become far less straightforward. The

Zverev Is Finally Playing the US Open on His Own Terms, and That Might Be the Real Story

Why did Good Good Golf fire two senior executives? everything you need to know

South Africa’s Bafana Bafana appoint Pitso Mosimane as Head Coach to fix national team’s woes

Monterrey Eliminates América on Penalties, Reaches Leagues Cup 2026 Final

Advertisement

Entertainment

The Inbetweeners 3 is officially happening on Netflix: Who’s returning and when will it be released?

The Inbetweeners 3 is officially happening on Netflix: Who’s returning and when will it be released?

Rob Reiner’s Emmy Win Came With a Standing Ovation He Never Saw

Rob Reiner’s Emmy Win Came With a Standing Ovation He Never Saw

How did Igho “Tiny” Ubiribo die? Details of Nigerian influencer’s penis enlargement

How did Igho “Tiny” Ubiribo die? Details of Nigerian influencer’s penis enlargement

Bruce Campbell says he has about five years to live: Why he is choosing to keep working

Bruce Campbell says he has about five years to live: Why he is choosing to keep working

“Tinubu Don Reach China?”: Chinese Couple’s Lagos Argument Sparks Reactions

“Tinubu Don Reach China?”: Chinese Couple’s Lagos Argument Sparks Reactions

Jarvis breaks down, accuses husband Peller of neglect during UK trip

Jarvis breaks down, accuses husband Peller of neglect during UK trip

Recent Post

General

Why Canadian Manufacturers Are Fleeing To The US: What You Should Know

September 8, 2026
Top Stories

South Africans lose R2.4 billion to Banking crime as AI-Powered scams target customers — how to keep your money safe South Africans lost an estimated R2.4 billion to digital banking crime in 2025, as criminals used social engineering, banking apps, artificial intelligence and impersonation scams to target customers. The figures were published by the South African Banking Risk Information Centre (SABRIC), which recorded 110,074 digital banking crime incidents during the year. The report shows how banking fraud is shifting away from traditional physical attacks and towards digital platforms, where criminals can manipulate victims in real time and move stolen funds within minutes. Banking app crime accounts for most reported losses Banking app-related crime accounted for approximately 89% of reported digital banking crime cases in 2025. It also represented 70.5% of the total amount claimed by clients. SABRIC said reported digital banking losses increased from approximately R1.9 billion in 2024 to R2.4 billion in 2025. “Digital Banking Crime remains the biggest threat, with reported losses increasing to R2.4 billion in 2025,” SABRIC said. Criminals used a combination of fake bank calls, phishing links, remote-access software and fraudulent payment instructions to gain access to customers’ accounts. In many cases, victims were persuaded

September 8, 2026
General

Hurricane Lowell Hawaii Explainer: What The Storm Is And What A Near-Miss Actually Means

September 8, 2026
Features

Kenya cracking down on foreign traders and small retailers? What this mean for Nigeria investment

September 7, 2026

Advertisement

Opinions

Advertisement

© 2024 Crispng. All Rights reserved.