{"id":836357,"date":"2025-08-29T12:14:23","date_gmt":"2025-08-29T10:14:23","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=836357"},"modified":"2025-08-29T12:14:30","modified_gmt":"2025-08-29T10:14:30","slug":"nedbank-and-standard-bank-send-warning-to-customers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/836357\/nedbank-and-standard-bank-send-warning-to-customers\/","title":{"rendered":"Nedbank and Standard Bank send warning to customers"},"content":{"rendered":"\n

South Africa is seeing a rise in impersonation fraud, with Nedbank and Standard Bank warning customers not to trust caller ID.<\/p>\n\n\n\n

Impersonation scams are rife in South Africa, where scammers pretend to be officials from trusted sources to acquire personal information. <\/p>\n\n\n\n

This can be done with fraudulent emails, WhatsApp messages, and phone calls, where criminals use social engineering tactics and manipulation to get customers to share their personal information. <\/p>\n\n\n\n

The process is made worse by “spoofing”, a tactic where criminals impersonate trusted entities by manipulating caller ID or email addresses to appear legitimate.<\/p>\n\n\n\n

Nedbank has again highlighted the crisis in a message to clients, noting that fraudsters are now posing as Nedbank\u2019s fraud department.\u00a0<\/p>\n\n\n\n

The criminals claim a suspicious debit order or a significant transaction on one\u2019s account. <\/p>\n\n\n\n

Fraudsters make themselves seem more legitimate by registering their numbers as \u201cNedbank Investigations<\/strong>“.<\/p>\n\n\n\n

They will then ask a customer to change their Nedbank ID username and password to the one they provide or share these details to reverse the transaction. <\/p>\n\n\n\n

They may also ask customers to accept an Approve-it message or share an OTP with them.<\/p>\n\n\n\n

To keep safe, Nedbank customers should never share their Nedbank ID username and password with anyone, as Nedbank\u2019s staff would never ask you to change your details. <\/p>\n\n\n\n

Customers should also carefully read approve-it messages before they accept them, and they should also never share their OTP. <\/p>\n\n\n\n

If the bank calls about a transaction, a customer should simply say ‘Yes. It’s mine,’ or ‘No. it’s not mine.’ They should never share any secret information.\u00a0<\/p>\n\n\n\n

The Nedbank warning comes shortly after Standard Bank<\/a> issued a similar warning, which noted a rise in fraudsters using AI-generated voices and emails to impersonate bank officials.<\/p>\n\n\n\n

Standard Bank said that the caller mimics the tone of a genuine bank interaction, often including standard security questions and disclaimers. <\/p>\n\n\n\n

Scammers often reference personal details such as birth dates, addresses, or account types. The information might seem harmless, but is used to create credibility.<\/p>\n\n\n\n

The caller will then claim to be calling about a service offering or to validate detected suspicious activity on the customer\u2019s banking profile, such as unauthorised changes to contact details. <\/p>\n\n\n\n

When victims panic, criminals offer fake solutions such as asking customers to transfer funds to a \u201csafe\u201d account, scan a QR code, click a link or share sensitive information like OTPS or instant money voucher codes.<\/p>\n\n\n\n

Not just banks <\/h2>\n\n\n
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Although impersonation fraud is common in the financial services industry, the City of Cape Town has also warned residents about scammers posing as city officials. <\/p>\n\n\n\n

The city said that a recent case in the Helderberg was reported to the town, where a resident received a  WhatsApp message followed by phone calls, falsely stating that their electricity would be disconnected due to municipal account arrears.<\/p>\n\n\n\n

The scammers then requested immediate payment into a bank account or via e-Wallet to avoid service disconnection. Luckily, the resident recognised the scam attempt and reported it. <\/p>\n\n\n\n

\u2018The City is investigating this matter and appeals to all residents to remain alert and report any suspicious encounters,\u201d said MMC for Energy, Xanthea Limberg.<\/p>\n\n\n\n

\u201cWe remind residents that the city does not notify residents of service disconnections via WhatsApp or any other social media platform, and no City official may request payment via e-Wallet or personal bank accounts.\u201d <\/p>\n\n\n\n

She added that all payments to the city must be made via the official city channels, such as visiting a municipal cash office or by making electronic payments using the details on the monthly municipal bill. <\/p>\n\n\n\n

\u201cWe ask residents to inform their family and friends, especially the elderly, so that they are aware of scammers,” said Limberg. <\/p>\n","protected":false},"excerpt":{"rendered":"

Nedbank is the latest financial services provider to warn customers about the danger of trusting Caller ID. <\/p>\n","protected":false},"author":95,"featured_media":802091,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[2356,1799,499],"class_list":["post-836357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-city-of-cape-town","tag-nedbank","tag-standard-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836357","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=836357"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836357\/revisions"}],"predecessor-version":[{"id":836366,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836357\/revisions\/836366"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/802091"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}