Mthobisi Nozulela|Published
South Africans lost R2.4 billion to digital banking crime in 2025, with criminals increasingly using scams to trick people into giving away their money.
According to the South African Banking Risk Information Centre (SABRIC), 110,074 digital banking crime incidents were recorded during the year, with reported losses rising by 29.2% from R1.86 billion in 2024. Banking app-related crime accounted for about 89% of reported cases and 70.5% of the total claim amount, making it the biggest contributor to digital banking crime losses.
The figures show that banking apps were linked to R1.7 billion in reported client losses during the year, making them the biggest contributor to digital banking crime losses.
How are criminals using banking apps to steal money?
SABRIC said criminals often rely on social engineering, a tactic where they manipulate people into trusting them or acting out of fear and urgency.
They may pretend to be bank officials, police officers or representatives of trusted organisations to convince victims to share sensitive information or approve payments.
SABRIC warned that criminals are increasingly exploiting trust and real-time interactions to move quickly from contacting a victim to stealing their money.
The use of artificial intelligence is also making some scams harder to identify, with realistic messages, images and voice recordings being used to make impersonation more convincing
"Banking apps were the primary channel for Digital Banking Crime in 2025. This does not mean that banking applications or bank systems were compromised."
"In many cases, the fraud began outside the banking platform, when criminals impersonated trusted organisations, created urgency, or guided customers through transactions in real time. The banking application is used to add beneficiaries, approve payments or move funds after the customer had been deceived."
Remote access scams and fake banking instructions
SABRIC said criminals also used remote-access software and screen-sharing tools to gain access to victims' devices under the pretence of providing technical support, preventing fraud or verifying bank accounts.
Once access is granted, criminals may be able to view sensitive information, capture login details or influence transactions. In some cases, money is transferred to newly added beneficiaries shortly after the criminal gains access to the device.
The report also warned that stolen funds are often moved through multiple bank accounts, making them harder to trace and recover.
These accounts, known as mule accounts, may belong to people who knowingly assist criminals or individuals who have been recruited without fully understanding how their accounts will be used.
How can customers protect themselves?
SABRIC advised customers to be cautious of unexpected calls or messages that create urgency or pressure them to act immediately.
Customers should never share their PINs, passwords or one-time passwords (OTPs), or transfer money to an account described as a safe account by someone claiming to represent their bank.
They should also avoid clicking on suspicious links or installing remote-access software at the request of strangers. Any request to change banking details or approve a payment should be verified independently through official contact channels.
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