Standard Bank warns customers: AI scams are getting smarter in South Africa

Standard Bank has sounded the alarm on a new wave of scams sweeping South Africa, urging customers to stay alert as fraudsters exploit artificial intelligence to impersonate bank officials.

The rise of “spoofing”

The warning comes after a sharp rise in what is known as “spoofing,” where criminals manipulate phone numbers or email addresses to appear as though they are contacting you directly from the bank.

It is not just a random call or badly written email anymore. Fraudsters are cloning voices, mimicking security scripts, and even using personal details like your address or birth date to build credibility. To the average customer, these calls and emails look and sound frighteningly real.

Often, the scammer will claim they are investigating “suspicious activity” on your account or press you to act quickly to prevent a so-called fraud. The trap usually ends with a demand to transfer funds into a “safe account” or click on a link that installs hidden malware.

AI is raising the stakes

Advocate Athaly Khan, Head of Fraud Risk Management at Standard Bank, said the rapid evolution of artificial intelligence has supercharged these scams. “Current scams look and sound more real than ever before. Stay safe, stay alert. Know what not to do and what not to share,” Khan cautioned.

Fraudsters now use AI-generated voices, deepfake-style videos, and polished phishing emails that replicate Standard Bank’s branding. It has become almost impossible for an untrained eye to spot the difference.

What NOT to do

Standard Bank has repeated its golden rules for customers:

• Never transfer money to another account on instruction, even if the caller claims to be from the bank.

• Never create instant money vouchers for someone else.

• Never click suspicious links, scan QR codes, or download attachments in unsolicited emails or SMSes. The bank will not send these through digital communication.

What NOT to share

Equally important, there are things you should never reveal:

• Your online banking login details, card expiry date, CVV number, OTP, or ATM PIN.

• Your investment or account details across different financial products.

• Any information that could turn you into an unknowing “money mule.”

Fraud is climbing across SA

This is not an isolated issue. The National Financial Ombud Scheme has reported a surge in digital banking fraud complaints, with a 73% increase in cases between January and May 2025 compared to the same period last year. One customer recently lost R500,000 through a virtual card scam.

The trend highlights how financial crime in South Africa is moving beyond old-school phishing and SMS cons. Today’s fraudsters are sophisticated, leveraging technology that even seasoned users can struggle to identify.

Staying ahead of the scammers

For South Africans, the warning carries a cultural weight. Trust in banks is deeply personal, and scammers know this. By impersonating your bank, they exploit not just your data but also your instinct to protect your money.

Social media reactions to Standard Bank’s warning show a mix of anxiety and gratitude. Some customers admitted they had nearly fallen for a spoofed call, while others shared tips on how they stall potential scammers by asking questions only the bank would know.

At its heart, the advice is simple: pause before reacting. Fraud relies on urgency and fear. If you stop, breathe, and verify with your bank directly, you stand a far better chance of avoiding the trap.

Also read: Tata Motors Returns to South Africa: Passenger Vehicles Set for 2025 Launch

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Source: Business Tech

Featured Image: Daily Investor