{"id":813813,"date":"2025-02-24T13:30:00","date_gmt":"2025-02-24T11:30:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=813813"},"modified":"2025-02-25T10:48:10","modified_gmt":"2025-02-25T08:48:10","slug":"nedbank-sends-warning-to-customers-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/813813\/nedbank-sends-warning-to-customers-in-south-africa\/","title":{"rendered":"Nedbank sends warning to customers in South Africa"},"content":{"rendered":"\n<p>Nedbank has issued a warning to its customers to be on the lookout for the latest scams, with fraudsters preying on the goodwill of South Africans.<\/p>\n\n\n\n<p>In a notice on its banking app, Nedbank warned that fraudsters are using various scams to steal customers&#8217; money.<\/p>\n\n\n\n<p>It warned that criminals may try to call and ask you to share your personal information. This type of scam is known as vishing.<\/p>\n\n\n\n<p>Vishing sees criminals&#8217; phones to try to get unknowing South Africans to reveal their personal information, including credit card numbers, bank information or passwords.<\/p>\n\n\n\n<p>Criminals may also ask South Africans to transfer their money into a &#8216;safe&#8217; account, which the fraudster then controls.<\/p>\n\n\n\n<p>Nedbank also stressed that scammers may also ask you to make a payment to secure your account or reverse a fraudulent transaction.<\/p>\n\n\n\n<p>The Big Four Bank also warned South Africans to beware of voucher scams. It said that a voucher code and PIN are the same as cash, meaning South Africans should never share them with anyone.<\/p>\n\n\n\n<p>Nedbank said that it will never ask customers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To move their money to another &#8216;safe&#8217; account;<\/li>\n\n\n\n<li>To make any type of payment to reverse a transaction or debit order; or<\/li>\n\n\n\n<li>To move their money to another &#8216;safe&#8217; account;<\/li>\n\n\n\n<li>To make any type of payment to reverse a transaction or debit order; or<\/li>\n\n\n\n<li>For your Nedbank ID username and password or card PIN.<\/li>\n<\/ul>\n\n\n\n<p>The latest alert joins a long line of warnings to banking customers amidst increasing rates of crime for South Africans. <\/p>\n\n\n\n<p>Last month, Nedbank said that debit card swipe transactions at toll gates were being disabled amid high levels of fraud. <\/p>\n\n\n\n<p>Reports suggest that card cloning was occurring at tool booths along the nation&#8217;s highways, as motorists would have to hand over their cards to collectors.<\/p>\n\n\n\n<p>Motorists can still use credit cards, garage cards, cash, or tags at the nation\u2019s toll gates, with plazas across the nation being updated to use contactless payments. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bank warnings <\/strong><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/11\/Nedbank.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/11\/Nedbank-1024x576.jpg\" alt=\"\" class=\"wp-image-733033\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/11\/Nedbank-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/11\/Nedbank-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/11\/Nedbank-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2023\/11\/Nedbank.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<p>In addition to Nedbank&#8217;s warnings, <a href=\"https:\/\/businesstech.co.za\/news\/banking\/813095\/capitec-scam-warning\/\">Capitec told BusinessTech<\/a> that the most prevalent scams it has seen targeting consumers include authorised push payment fraud.<\/p>\n\n\n\n<p>This type of fraud sees victims authorise payments to criminals, with the fraudsters posing as trusted entities to convince individuals to transfer funds into fraudulent accounts.<\/p>\n\n\n\n<p>This scam is leading to massive financial losses for customers.<\/p>\n\n\n\n<p>Capitec also highlighted investment scams where fraudsters promise high returns with minimal risk. Investments that seem too good to be true, likely are, the bank said.<\/p>\n\n\n\n<p>It also flagged courier scams, where victims pay for goods or services that never arrive. Advance fee scams are similar and see victims pay upfront fees for things that don&#8217;t exist.<\/p>\n\n\n\n<p>A common example of this is job scams, where scammers lure job seekers and demand payments for things like training that never take place.<\/p>\n\n\n\n<p>Work-from-home (WFH) scams are also increasing in South Africa, where fraudsters trick victims into making multiple payments, often to invest or trade.<\/p>\n\n\n\n<p>A popular version of this scam is known as &#8216;Pig Butchering&#8217;, where victims are tricked into fake relationships with their scammers, often leading to them being financially drained.<\/p>\n\n\n\n<p>Capitec noted that online banking platforms remain primary targets for scammers, with phishing and social engineering tactics on the rise.<\/p>\n\n\n\n<p>Similar to vishing, phishing sees scammers send fake emails in an attempt to get customers to reveal personal information. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new fraud alert from Nedbank has told customers what they should be on the lookout for when it comes to scams.  <\/p>\n","protected":false},"author":95,"featured_media":812747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[1798,1799],"class_list":["post-813813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-capitec","tag-nedbank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/813813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=813813"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/813813\/revisions"}],"predecessor-version":[{"id":814049,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/813813\/revisions\/814049"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/812747"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=813813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=813813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=813813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}