South African loses R6 million to AI-powered banking scam

Daniel Puchert

Daniel Puchert

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One South African lost R6 million to an AI-powered banking scam

The South African Banking Risk Information Centre (Sabric) has warned of a surge in artificial intelligence (AI) driven scams in the banking sector, including deepfake videos, voice cloning, and AI-powered chatbots.

These scammers use AI to impersonate bank officials and offer lucrative investment deals. Sabric says these scams are actively targeting South Africans and one victim lost a whopping R6 million.
 
This is why you always go to your private banker (I assume the victim had one) or visit the branch when dealing with this kind of situation.

Victim should know to never trust anybody in SA.
 
“Imagine receiving a WhatsApp message that looks exactly like it’s from your bank.”

I know that these things catch the less tech-savvy and even those who are, but if I received any kind of WhatsApp looking like it's from my bank it's an immediate ignore from me.
 
Haven't people learned the rule of life yet? If it looks lucrative walk away because nobody will give away something lucrative when they can use it themselves.
 
Swa said:
Haven't people learned the rule of life yet? If it looks lucrative walk away because nobody will give away something lucrative when they can use it themselves.
Click to expand...

If you walk up to someone and say: hi I'm from your bank please give me your bank pin they say no but if you send them a WhatsApp its no problem.
 
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