FNB Warns: 3 Scams Every South African Should Watch Out For

We’ve all had that message. “Congratulations, you’ve been selected for a job paying R15,000 a week from home.” Or the WhatsApp from a “recruiter” who somehow already knows your name. Or the sneaker deal on a marketplace that’s just a little too cheap.

Most of us laugh those off. But here’s the thing: the scams that actually catch people don’t look like that anymore. They look normal. Professional, even. And they’re hitting South Africans harder than ever.

The numbers are not small

According to SABRIC (the South African Banking Risk Information Centre), reported digital banking losses went from about R1.9 billion in 2024 to R2.4 billion in 2025. More than 70% of those losses were linked to banking apps, the same apps most of us open several times a day without thinking twice.

And scammers know exactly when to strike. When money is tight, an unexpected discount, a job offer or a quick loan can feel like a lifeline. That’s the pressure they use against you.

“Being financially savvy today is about more than budgeting or saving for the future,” says Moshibudi Sebola, Consumer Education Operations Support Manager at FNB. It also means knowing how fraudsters work and noticing when something that looks familiar deserves a second look.

FNB has flagged three fraud trends worth paying attention to. Let’s break them down.

1. They’re hiding on apps and sites you already trust

The old advice was simple: stay away from dodgy websites and ignore random messages. That’s still true, but it’s no longer enough.

These days, fraudsters set up shop on platforms you already know and use. The website or app might be 100% legit, but the seller on it might not be who they say they are. Think fake sellers on online marketplaces, or “shops” that look real but disappear the moment your money lands.

Sebola’s advice is to not assume a familiar platform makes every deal on it safe. Before you buy:

• Check the seller’s reviews and ratings, if the platform has them
• Be suspicious of deals that seem too good to be true (they usually are)
• Never pay outside the app or website’s normal payment system. If a seller asks you to send an EFT or pay via a link “to make it quicker”, that’s your cue to walk away.

A big brand name is not a substitute for doing your own checks.

2. They want into your accounts, not just your wallet

This one is called account takeover fraud. Instead of stealing your card, criminals get into your existing accounts, either by getting hold of your login details or by tricking you into approving something yourself.

It usually happens when someone gets you to share a password or OTP, click a fake link, or approve a request that looks like it’s from your bank or a company you deal with.

The golden rules:

• Use strong passwords, and a different one for every account
• Turn on extra security features wherever you can
• Never share your PIN, banking passwords or OTPs. Not with “the bank”, not with “support”, not with anyone. Your bank will never ask you for them.
• If you get a login alert, a device verification request or an approval prompt you didn’t expect, treat it as a red flag

If a message claims to be from your bank, a store, SARS or any service provider, don’t click the link inside it. Look up their contact details yourself and get in touch directly.

3. Scams don’t look like scams anymore

Remember when you could spot a scam by its terrible spelling? Those days are pretty much gone.

SABRIC has warned that criminals are now using AI to write convincing phishing messages and pull off impersonation scams, including cases with cloned voices. Imagine getting a voice note that sounds exactly like your cousin asking for money urgently. That’s where we are now.

So stop judging a message by how it looks. Pay attention to what it’s asking you to do. If it involves sending money, sharing personal info, logging in somewhere or approving a transaction, slow right down.

This matters even more when you’re broke or stressed. Refunds, investment “opportunities”, prizes, jobs and special discounts all hit differently when you need the money, and that’s exactly the point. Scammers want you acting on emotion, not logic.

It’s not just “careless people” who get scammed

There’s a myth that only gullible people fall for fraud. Ettienne Fourie, Head of Fraud for Retail and Business Banking at FNB, says that’s simply not true. Today’s scams are built to look legitimate and catch people off guard.

His best advice is pretty simple: slow down.

“If someone is pushing you to act immediately, share information or approve a payment, take a moment to pause and confirm who you are dealing with,” Fourie says. “A few extra minutes could prevent significant financial loss.”

Urgency is the scammer’s favourite tool. Any legit company or person will still be there in ten minutes after you’ve double-checked.

Quick checklist before you click, pay or reply

• Who is this really from? Did I contact them, or did they contact me?
• Are they rushing me?
• Are they asking for money, an OTP, a password or an approval?
• Is this deal or offer way better than it should be?
• Can I verify this through an official number or app that I found myself?

If any of those make you pause, trust that feeling.

The bottom line

None of this means you should be scared of banking apps or online shopping. As Sebola puts it, protecting yourself isn’t about avoiding digital services. It’s about using them with more awareness and confidence.

Build the habit of pausing before you respond, click or pay. It costs you a few seconds, and it could save you a lot more than that.

Have you or someone you know ever been targeted by a scam? Share your story in the comments so others know what to look out for.