{"id":599478,"date":"2025-06-23T16:00:43","date_gmt":"2025-06-23T14:00:43","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=599478"},"modified":"2025-06-23T16:00:48","modified_gmt":"2025-06-23T14:00:48","slug":"capitec-scam-warning-2","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/banking\/599478-capitec-scam-warning-2.html","title":{"rendered":"Capitec scam warning"},"content":{"rendered":"\n

Capitec has warned about scam callers impersonating its representatives or one of its service providers. However, the bank has developed ways to mitigate these threats.<\/p>\n\n\n\n

Capitec is South Africa’s largest bank by customers, with over 24 million active clients according to its financial results for the year ended 28 February 2025.<\/p>\n\n\n\n

This makes the bank’s customer base a prime target for scammers who want to exploit the large number of potential victims.<\/p>\n\n\n\n

Phishing is a type of scam where criminals attempt to manipulate targets into revealing sensitive information using social engineering techniques.<\/p>\n\n\n\n

Like fishing, the idea is to attempt this attack on many targets, hoping that one eventually “bites”. A phishing fraudulent email sent to several thousand Capitec customers is an example.<\/p>\n\n\n\n

In comparison, vishing refers to a phishing attack where the target is contacted via phone and manipulated into revealing sensitive information.<\/p>\n\n\n\n

Another type of phishing is smishing, where attackers use SMSs to manipulate unsuspecting victims into divulging sensitive information.<\/p>\n\n\n\n

A common form of smishing is SMSs informing targets that their “package” has arrived at a courier facility and requires a small payment to be made for delivery.<\/p>\n\n\n\n

If this occurs when the SMS receiver is expecting a delivery, they may make the payment and risk having their banking details stolen.<\/p>\n\n\n\n

Capitec has warned its customers about several other scams, including money mules, identity theft, social media, and marketplace scams.<\/p>\n\n\n\n

The bank stated that criminals often exploit people’s good nature or offer money to open a bank account in their name, ultimately using it for nefarious purposes, such as money laundering.<\/p>\n\n\n\n

Similarly, criminals may steal the information needed to open a bank account and use it to do so or take up credit in the victim’s name.<\/p>\n\n\n\n

Capitec warned that scammers are also active on social media. They impersonate brands, celebrities, or people and send them links that direct to malicious websites.<\/p>\n\n\n\n

These scams are also particularly prominent on secondhand marketplaces like Facebook Marketplace and Gumtree.<\/p>\n\n\n\n

These scams often involve fake listings, counterfeit items, or sellers who demand upfront payment for goods that are never delivered.<\/p>\n\n\n\n

Mitigating scam calls<\/h2>\n\n\n\n
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Capitec provides an example of receiving a call from someone purporting to be from the bank’s Fraud Clearance Department, who calls to inform the target that there is suspicious activity on their account.<\/p>\n\n\n\n

Similar to how Capitec may approach such a call, it notes that fraudsters often remind the target never to share any confidential banking information to establish credibility.<\/p>\n\n\n\n

It says that the scammers will then ask the target to complete one of the following actions:<\/p>\n\n\n\n