Standard Bank Warns South Africans of Rising AI Driven Fraud

Artificial intelligence is changing the way we live, work, and even manage our money. But while AI has opened up exciting possibilities, it has also given criminals a dangerous new tool. Standard Bank has issued a public warning to its clients after noticing a surge in highly sophisticated “spoofing” scams driven by AI technology.

The New Face of Fraud

Spoofing is not new in South Africa, but the way it’s being done is. Criminals are now using AI tools such as voice cloning, chatbots, and deepfake videos to convincingly impersonate bank officials. According to Athaly Khan, Standard Bank’s head of fraud risk management, these scams have become so advanced that “calls and e-mails appear to come from the bank’s legitimate contact details.”

That means a fraudster could phone you using what looks like a real Standard Bank number, speak to you in a cloned voice that sounds just like a bank employee, and even drop in your personal details – such as your address or account type – to gain your trust.

How The Scam Plays Out

Typically, the caller will claim they’re contacting you about suspicious activity on your account. They might say there have been unauthorised changes to your details or that your profile has been “flagged” for compliance issues. Once they have your attention, they push you into acting quickly:

• Asking you to transfer money into a so-called “safe” account.

• Urging you to click a link or scan a QR code.

• Pressuring you into sharing one-time PINs or instant money voucher codes.

Meanwhile, phishing e-mails are becoming harder to spot. Fraudsters copy bank branding perfectly, add official disclaimers, and use urgent tones such as “account suspension” or “compliance failure.” Hidden inside are links or attachments laced with malware that can steal your banking details in seconds.

Why South Africans Are Particularly Vulnerable

South Africa has one of the highest rates of cybercrime on the continent, with scams often spiking around paydays, festive seasons, or big sporting events when people are distracted. In a country where financial stress is high, fraudsters prey on panic, urgency, and trust. The use of AI has only amplified this, making it far harder for the average consumer to tell the difference between real and fake communication.

How To Protect Yourself

Standard Bank has urged clients to stay calm and remember a few golden rules:

• Your bank will never ask you to transfer money to another account to secure it.

• Never share your PIN, OTP, CVV number, or online banking login details with anyone.

• Do not click on links, open attachments, or scan QR codes from e-mails or SMS messages claiming to be from your bank.

• Be cautious if you are pressured to act urgently – this is the biggest red flag of all.

The Bigger Picture

Cybercrime in South Africa is not going away anytime soon. As AI continues to evolve, so too will the methods of fraudsters. Banks like Standard Bank are stepping up security and issuing public alerts, but much of the protection still comes down to individual vigilance.

The harsh truth? If a call or e-mail feels suspicious, trust your instincts. It’s better to end the interaction and contact your bank directly than risk being duped by a voice that sounds “too real to be fake.”

Source:Tech Central 

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