‘They Called Three Times’: Bank Impersonation Scams on the RiseHow to Protect Yourself

A woman from Etwatwa, near Daveyton in Ekurhuleni, thought she was speaking to her bank. She almost lost everything.

“They phoned me more than three times last week, instructing me to give my personal details and a one-time pin that I would receive on my phone shortly.”

After hanging up, another person called, claiming her bank account had been hacked and offering to assist.

When she visited the bank branch they claimed to represent, staff knew nothing of the callsor the names of the people.

The Numbers

Fraud is rampant in South Africa.

• Oct–Dec 2024: 36,446 fraud cases

• Oct–Dec 2025: 37,174 cases reported

The Scam

Manie van Schalkwyk, CEO of the Southern African Fraud Prevention Service (SAFPS), confirmed that white-collar crime in the banking sector is on the rise.

“Yes, this is certainly taking place, and it is an ongoing tactic used by fraudsters.”

The scam involves phone calls from fraudsters who:

• Cleverly manipulate the public into revealing sensitive banking information

• Convince consumers to use a link that transfers money into a fraudster’s account

“They are using manipulation and intimidatory tactics to try and coerce people into taking action. Anybody can become a victim.”

The Psychology

Van Schalkwyk said the scam relies on psychological strategies and impersonation.

Scammers often pose as representatives from:

• Banks

• Cellular service providers

• Insurers or retailers

• Government agents

• IT support companies

“In South Africa, this scam tactic has become a preferred method for syndicates targeting both individuals and corporate employees.”

The Inside Job

Mike Bolhuis, an investigator specialising in serious violent, economic and cybercrime, warned that sometimes schemes are run by bank officialsor former employees who know how the system works.

“These scams can only work if you can convince somebody that you are from the bank.”

He noted that many people don’t report these cases, and banks often don’t pay back stolen money because the client cooperated and handed over the one-time pin.

The Policing Challenge

Professor Witness Maluleke, senior criminologist from the University of Limpopo, said this crime requires “personal policing.”

“There is little the local police can do to eradicate it, as it happens in domestic settings. It is an impossible mandate for them to execute.”

His advice: protect your personal information at all costs. No one should be allowed to tamper with it.

Willem Els, a criminologist from the Institute for Security Studies, pointed to the low conviction rate.

“If you look at the organised crime index, you will see financial crime is one of the fastest rising crimes. We only have a 12.5% conviction rate, meaning chances of arresting the perpetrators are very low.”

The Campaign

SAFPS launched the “Just Say Goodbye” awareness campaign last year to help consumers recognise these scams and take appropriate action.

Van Schalkwyk appealed to organisations to work alongside law enforcement to tackle the problem.

The Advice

• If you suspect something is wrong, hang up. Don’t engage.

• Report cases to the Yima reporting line or hotline: 083 123 SCAM (7226)

• Educate yourself. Awareness is the front-line defence.

The Bottom Line

The calls are coming. The scams are evolving. The fraudsters are convincing.

Your best defence? Hang up. Verify. And never, ever give out your one-time pin.