South African consumers are at risk of being fleeced of their hard-earned money as fraudsters continue phoning them in a bid to steal their confidential information.
Scammers are calling victims, claiming to be bank consultants, and urging them to reveal confidential information.
A woman from Etwatwa, near Daveyton in Ekurhuleni, told The Citizen how she was nearly scammed of her money.
Scammers posing as bank officials phoning South Africans
“They phoned me more than three times last week, instructing me to give my personal details and a one-time pin that I would receive on my phone shortly.
“After hanging up, another person phoned and said my bank account had been hacked, and he wanted to assist.
“When I went to a branch of the bank which they claimed they were from, the branch were not aware of the calls and names of the people.”
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Crime statistics show that from October to December 2024, SA recorded 36  446 fraud cases, and from October to December 2025, 37 174 cases were reported.
The Southern African Fraud Prevention Service (SAFPS) confirmed white-collar crime in the banking sector is on the rise.
It was confirmed recently that such fraud was rampant in SA.
Fraud rampant in SA
SAFPS CEO Manie van Schalkwyk said: “Yes, this is certainly taking place, and it is an ongoing tactic used by fraudsters.
“The scam involves phone calls from fraudsters, who cleverly manipulate the public into revealing sensitive banking information or to convince consumers to use a link that will ultimately transfer their hard-earned money into a fraudster’s bank account.”
Van Schalkwyk said the scam relies on psychological strategies and impersonation, with the scammers often posing as representatives from legitimate organisations like banks, cellular service providers, insurers or retailers, government agents, or IT support companies.
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“In South Africa, this scam tactic has become a preferred method for syndicates targeting both individuals and corporate employees, especially those with access to financial systems or customer data,” he said.
He said the consequences range from drained bank accounts to compromised internal networks.
“Understanding how this scam works is the first step in building resilience, as awareness is the front-line defence in fraud prevention.
Campaign to help consumers recognise scams
“SAFPS launched the Just Say Goodbye awareness campaign last year to help consumers recognise these scams and take appropriate action to protect themselves,” Van Schalkwyk added.
He has appealed to organisations to continue to work alongside law enforcement in an effort to tackle the problem.
“These scammers often have some personal information already, which they use to legitimise their scam and gain your trust.
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“They are using manipulation and intimidatory tactics to try and coerce people into taking action… and anybody can become a victim.
“If you suspect something is wrong, hang up the phone. Alternatively, you can report these cases to our Yima reporting line or via the hotline on 083 123 SCAM (7226),” Van Schalkwyk added.
He said educating the public on how to protect themselves was the best defence.
Somes schemes run by bank officials
Mike Bolhuis, an investigator specialising in serious violent, economic and cybercrime, said sometimes schemes were run by bank officials.
“It could also be a person who used to work at a bank and knows how a bank works.
“It could also be a person who does many other scams, but does this as well, not only concentrating on this specific scam. We have many of these kinds of cases.
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“These scams can only work if you can convince somebody that you are from the bank.
“Many people don’t report these kinds of cases, and the banks do not pay back the stolen money as the clients cooperated and handed out the one-time pin,” Bolhuis said.
He said in most cases, it was difficult for police to deal with banking fraud cases; hence, he suggested the public must be educated on how they can protect themselves.
‘This crime requires personal policing’
Professor Witness Maluleke, senior criminologist from the University of Limpopo, said one of the vital ways to address this kind of crime was sensitising the public about it.
“This crime requires personal policing; there is little the local police can do to eradicate it, as it happens in domestic settings. It is an impossible mandate for them to execute.
“The public needs to take the awareness sessions geared toward this crime seriously, and while becoming vigilant against anything mapped with their personal information. They should protect it at all costs; no one should be allowed to tamper with it,” Maluleke said.
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Willem Els, a criminologist from the Institute for Security Studies, said: “If you look at the organised crime index, you will see financial crime is one of the fastest rising crimes.
“We only have a 12.5% conviction rate, meaning chances of arresting the perpetrators are very low.”
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