Banking App Fraud in South Africa is Rising – How to Stay Safe
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07 Feb South Africans at Risk as Banking App Fraud Escalates

Posted at 06:26h in Investigations by
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Banking app fraud is escalating in South Africa as cybercriminals exploit stolen phones and weak security. With 50% of South Africans using mobile banking, the risk is higher than ever.

How Criminals Exploit Stolen Phones

An average of 189 phones are stolen daily, often giving criminals access to banking apps, emails, and personal documents. Many victims face SIM swap fraud, phishing, and even forced access to their accounts.

Protect Yourself

  1. Immediately contact your bank to de-link your banking app.
  2. Then cancel your SIM card to prevent further fraud.

To stay safe, use strong passwords, enable two-factor authentication, update your apps, and avoid public Wi-Fi. Vigilance and quick action can help prevent financial loss.

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