Banking apps drive surge in digital-bank fraud as South Africans lose R1.7bn in 2025

Banking apps were the dominant channel for digital banking crime in 2025, according to a new report from the South African Banking Risk Information Centre (SABRIC), which says apps were linked to R1.7 billion in reported client losses that year.

Scale and cost of digital banking crime

SABRIC recorded 110,074 digital banking crime incidents in 2025, with total reported client claims reaching R2.41 billion. The report said this represented a 29.2% increase from reported claims of R1.86 billion in 2024.

Banking apps at the centre of losses

The report found that banking app-related crime accounted for about 89% of reported digital banking crime cases in 2025 and made up approximately 70.5% of the total claim amount. SABRIC said banking apps were linked to R1.7 billion in reported client losses during the year.

Other channels and their share

• Internet banking accounted for fewer than 9% of cases but approximately 28.6% of claim value.
• Mobile banking represented fewer than 3% of cases and less than 1% of claim value and was noted for its association with SIM swap–related risk.

How criminals are using apps without hacking banks

SABRIC emphasised that the prominence of banking apps in the figures does not mean bank applications or systems were compromised. The report explained that many frauds began outside the banking platform:

“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.”

The report said explicitly: “Banking App accounted for approximately 89% of reported cases and about 70.5% of the total claim amount. Internet Banking accounted for fewer than 9% of cases but approximately 28.6% of claim value, showing that a smaller number of cases can still result in substantial financial exposure.”

Earlier losses and wider context

The report also noted that a previous figure indicated South African consumers lost more than R1 billion in 2023 due to digital banking and mobile app crimes.

What the findings mean

The SABRIC data shows that while banking apps are the principal channel for reported digital banking crime incidents and losses, the underlying fraud often begins with deception outside bank systems and uses the app to complete transactions after victims have been manipulated.