{"id":820743,"date":"2025-04-14T09:06:16","date_gmt":"2025-04-14T07:06:16","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=820743"},"modified":"2025-04-14T09:08:52","modified_gmt":"2025-04-14T07:08:52","slug":"nedbank-warning-to-south-africans-with-smartphones","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/820743\/nedbank-warning-to-south-africans-with-smartphones\/","title":{"rendered":"Nedbank warning to South Africans with smartphones"},"content":{"rendered":"\n

Nedbank has warned its banking app customers in South Africa of rising cases of smartphone theft, and a new wave of spam calls impersonating officials.<\/p>\n\n\n\n

The bank told its customers that they may receive a call from someone claiming to be employees working for the Nedbank fraud department, SAPS, SARS, customs, or any similar organisation.<\/p>\n\n\n\n

These callers will ask customers to move money to another account to keep it safe or for further verification. They may also ask customers to install an app from a WhatsApp, email, or SMS link.<\/p>\n\n\n\n

They could also ask clients for their secret information, such as their Nedbank ID username and password, card PIN, expiration date, or CSC.<\/p>\n\n\n\n

Nedbank said customers should hang up when approached by fraudsters demanding these details. It added that customers should remain calm and not let anyone rush them into divulging information.<\/p>\n\n\n\n

If someone calls and says something terrible will happen unless you act fast, it’s likely a scam.<\/strong><\/p>\n\n\n\n

When it comes to apps, app users should only download apps from official stores like the Apple App Store or Google Play Store.<\/p>\n\n\n\n

Customers should also always check with their bank before they do anything. If Nedbank customers suspect fraud, they should report it immediately by calling 0800 110 929.<\/p>\n\n\n\n

In addition to scam calls and fraudsters looking for an angle on victims, banking customers also need to be hyper-aware of the security around their physical devices.<\/p>\n\n\n\n

Nedbank warned that criminals are increasingly targeting smartphones, with the risk of poor device security exposing the victims’ personal data and digital banking accounts.<\/p>\n\n\n\n

South Africa\u2019s high crime rate makes it vital to secure belongings, whether at home or in public, it said.<\/strong><\/p>\n\n\n\n

Recent stats point to a rise in phone theft, with the SAPS reporting 189 cell phones stolen on average daily in South Africa.<\/p>\n\n\n\n

From April 2017 and March 2023, the SAPS reported over 412,998 stolen mobile phones, with less than 30% blacklisted by service providers.<\/p>\n\n\n\n

Gauteng has the largest share of thefts (29%), followed by the Western Cape (26%), KwaZulu-Natal (20%), and the Eastern Cape (7%).<\/p>\n\n\n\n

\u201cTake special care to keep your digital devices safe \u2013 the combination of easy portability and high value makes them more attractive to burglars, pickpockets, smash-and-grab robbers, and bag snatchers,\u201d said Nedbank.<\/p>\n\n\n\n

In addition to potentially having bank accounts breached, the other big concern that comes with having a smartphone or digital device stolen is that it may expose personal data to criminals, leading to identity theft.<\/p>\n\n\n\n

‘Big Four’ warnings<\/h2>\n\n\n
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Nedbank is not alone in warning customers about potential avenues of fraud; Standard Bank and Capitec have also highlighted rising trends in fraud and scams.<\/p>\n\n\n\n

Standard Bank recently warned South Africans about the growing threat of Card-Not-Present (CNP) fraud, which is exacerbated by the rise of delivery apps, e-hailing, video on demand, and online shopping services.<\/p>\n\n\n\n

These online platforms often offer targeted ads when shopping. However, these ads increase the chance of being a victim of CNP fraud.<\/p>\n\n\n\n

CNP fraud occurs when stolen card details are used for online purchases and subscriptions with no physical card required.<\/p>\n\n\n\n

Criminals will exploit vulnerabilities in e-commerce platforms to steal card numbers, expiration dates, and CSCs.<\/p>\n\n\n\n

Malicious pop-up ads are a common modus operandi for fraudsters. Food delivery, e-hailing services, and social media sites are the main targets, as they store sensitive data for ease of use.<\/p>\n\n\n\n

Moreover, Ontiretse Modise, Head of Cash Management in Transaction Banking at Standard Bank CIB, said that the shift to instant payments has led to new challenges. <\/p>\n\n\n\n

Irreversible transactions, particularly those done via EFT or PayShap, carry an increased risk. <\/p>\n\n\n\n

Standard Bank said that the rise of cybercrime, including fraud and data breaches, is worsening the complexity of the new ecosystems.<\/p>\n\n\n\n

The South African Reserve Bank (SARB), a major driver behind PayShap, warned that EFT payments are final and irrevocable, and consumers cannot reverse a transaction in fraud cases.<\/p>\n\n\n\n

Standard Bank warned that cybersecurity is a shared responsibility, working with clients on the best ways to protect their businesses and improve their fraud detection systems. <\/p>\n\n\n\n

Capitec, meanwhile, has flagged several scams targeting South Africans in 2025, including authorised push payment fraud, Ponzi schemes, investment, advance fees, and courier scams.<\/p>\n\n\n\n

Investment scams are becoming particularly more common as South Africans look everywhere for quick money to combat the rising cost of living.<\/p>\n\n\n\n

These scams typically involve promises of unusually high returns with minimal risk.<\/p>\n\n\n\n

Victims are enticed to invest in what seems like a lucrative opportunity, only to discover later that the scheme was fraudulent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nedbank has warned South Africans to beef up security on their smartphones, as criminals are on the hunt for vulnerable victims.<\/p>\n","protected":false},"author":95,"featured_media":310342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[1799,499],"class_list":["post-820743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-nedbank","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820743","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=820743"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820743\/revisions"}],"predecessor-version":[{"id":820800,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/820743\/revisions\/820800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/310342"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=820743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=820743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=820743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}