{"id":818036,"date":"2025-03-25T14:00:00","date_gmt":"2025-03-25T12:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=818036"},"modified":"2025-03-25T14:03:38","modified_gmt":"2025-03-25T12:03:38","slug":"nedbank-joins-the-chorus-of-warnings-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/818036\/nedbank-joins-the-chorus-of-warnings-in-south-africa\/","title":{"rendered":"Nedbank joins the chorus of warnings in South Africa"},"content":{"rendered":"\n<p>Nedbank is the latest bank highlighting a growing trend of fraudsters pretending to be police officers to scam unsuspecting South Africans.<\/p>\n\n\n\n<p>In a fraud alert to customers, Nedbank said that fraudsters use vishing calls to scam customers out of their money. <\/p>\n\n\n\n<p>Scammers may pose as bank employees from its fraud department or police officers. These scammers will then use various tricks on their targets. <\/p>\n\n\n\n<p>This could include getting the banking customer to download an app, move their money to another account or share their personal information. <\/p>\n\n\n\n<p>A Nedbank ID username and password or card PIN, expiry date, and CSC (the 3- or 4-digit code on your card) could be some of the personal information criminals are trying to access.<\/p>\n\n\n\n<p>Nedbank told its customers that they should never do the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Never move your money to another account to protect it, even if instructed by someone claiming to be from Nedbank.<\/li>\n\n\n\n<li>Install apps from links sent via WhatsApp, email, or SMS. You should only Install apps from official stores like the Apple App Store or Google Play Store. <\/li>\n\n\n\n<li>Don&#8217;t follow prompts to download apps. Fraudsters may offer discounts on airline tickets or TV streaming services to get you to download an app.<\/li>\n\n\n\n<li>Never share your Nedbank ID username and password or card PIN, expiry date, and CSC with anyone.<\/li>\n<\/ul>\n\n\n\n<p>The bank added that customers must beware of seemingly &#8216;urgent messages&#8217; or calls that threaten serious consequences, try to cause panic or say they require immediate action.<\/p>\n\n\n\n<p>It also said individuals should not rush into acting. Customers should check first before doing anything that they could regret. <\/p>\n\n\n\n<p>If customers suspect fraud, they should report this to the bank, it said.<\/p>\n\n\n\n<p>This is not the first time that a major bank has highlighted this trend; Discovery Bank issued a similar fraud alert last week.<\/p>\n\n\n\n<p>The digital bank told its customers to be on the lookout for a scam involving fake police officials who pressure customers to transfer funds.<\/p>\n\n\n\n<p>It said that fraudsters, posing as police detectives, call victims to inform them that they are linked to a fraud case before advising them to transfer money from their accounts.<\/p>\n\n\n\n<p>\u201cThese fraudsters are calling, claiming your ID or cellphone number is linked to fraudulent activity and that fake accounts were opened in your name,\u201d said <a href=\"https:\/\/businesstech.co.za\/news\/banking\/817081\/discovery-bank-warns-south-africans-of-new-police-scam\/\">Discovery<\/a>.<\/p>\n\n\n\n<p>\u201cThey may escalate the situation by involving a fake senior official who pressures you to transfer money for the &#8216;investigation&#8217;, promising it will be returned later.\u201d<\/p>\n\n\n\n<p><strong>The police will never ask for money to investigate or drop a case.<\/strong> Calls also come from unusual private numbers.<\/p>\n\n\n\n<p>Discovery Bank stressed that customers should never transfer money or share bank details over the phone no matter who is calling.<\/p>\n\n\n\n<p>If the police do contact you, it is important to verify their identity by requesting their name, station, and case number. Then, call the station back to confirm these details.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to look out for<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/capitec-fraud-warning.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/capitec-fraud-warning-1024x576.jpg\" alt=\"\" class=\"wp-image-794688\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/capitec-fraud-warning-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/capitec-fraud-warning-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/capitec-fraud-warning-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/10\/capitec-fraud-warning.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p>South Africa&#8217;s other major banks, including Standard Bank and Capitec, have flagged other forms of impersonation fraud this year.<\/p>\n\n\n\n<p>Standard Bank warned customers of a <strong><a href=\"https:\/\/businesstech.co.za\/news\/banking\/815139\/warning-over-new-tactic-used-by-criminals-to-drain-your-bank-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\">fraudulent WhatsApp group<\/a><\/strong>&nbsp;on social media. It claims affiliation with an investment app called SBG SI Trader.&nbsp;<\/p>\n\n\n\n<p>It falsely claims to have connections with Standard Bank, SBG Securities, and other platforms, including SBG Securities Online Share Trading.&nbsp;<\/p>\n\n\n\n<p>It added that the information is fraudulent, stressing that customers should remain vigilant to avoid falling victim to phishing scams, cybercrime, or unauthorised access by fraudsters,<\/p>\n\n\n\n<p>Capitec recently told BusinessTech that the most common scams that target consumers include <strong><a href=\"https:\/\/businesstech.co.za\/news\/banking\/813095\/capitec-scam-warning\/\" target=\"_blank\" rel=\"noreferrer noopener\">authorised push payment fraud<\/a><\/strong>.<\/p>\n\n\n\n<p>This sees victims being tricked into authorising payments to criminals. This has become a notable concern for banks.<\/p>\n\n\n\n<p>The bank said cybercriminals regularly impersonate trusted organisations, such as banks or service providers, to convince individuals to transfer funds to fraudulent accounts.<\/p>\n\n\n\n<p>Capitec stressed that this scam and others are causing serious financial losses for vulnerable South Africans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nedbank&#8217;s latest warning to customers is hot off the heels of a similar fraud alert from Discovery Bank. <\/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":[1798,12923,1799,499],"class_list":["post-818036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-capitec","tag-discovery-bank","tag-nedbank","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/818036","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=818036"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/818036\/revisions"}],"predecessor-version":[{"id":819112,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/818036\/revisions\/819112"}],"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=818036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=818036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=818036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}