Nedbank has issued a strong warning to its customers in South Africa about a surge in fraudulent activities. Scammers are exploiting the goodwill of South Africans through various tactics, including “vishing,” where they call individuals and trick them into revealing personal information like credit card numbers and bank details. They may also ask customers to transfer money to a “safe” account, which they control, or to make payments to secure accounts or reverse fake transactions.
Nedbank emphasized that they will never ask customers to move money to other accounts, make payments for transaction reversals, or request Nedbank ID usernames, passwords, or card PINs. The bank also cautioned against voucher scams, reminding customers that voucher codes and PINs are equivalent to cash and should never be shared.
This warning comes amid a rise in banking fraud across South Africa. Nedbank recently disabled debit card swipes at toll gates due to card cloning incidents. Capitec has also highlighted prevalent scams, including authorized push payment fraud, investment scams, courier and advance fee scams, and work-from-home scams like “Pig Butchering.” Both banks noted that online banking platforms are prime targets, with phishing and social engineering tactics on the rise. Customers are urged to remain vigilant and avoid sharing personal information with unverified sources.