- TymeBank warns South African clients about VAT scam targeting banking clients and others.
- Fraudsters use phishing and vishing to impersonate legitimate institutions.
- Scams aim to steal personal or financial details through fake emails, SMSes, or websites.
- VAT phishing scam targets anyone with accounts or subscriptions where VAT is payable.
- Fake notifications create urgency, leading users to phishing sites to steal credentials.
- Cybercrime is increasing, especially during holidays and tax seasons.
- Discovery report shows high rates of card fraud and scam communications in South Africa.
- Standard Bank warns of a fraudulent WhatsApp group claiming affiliation with the bank.
- Capitec highlights common scams like authorised push payment fraud and advance fee scams.
- Banks advise skepticism of offers that seem too good to be true.
- TymeBank emphasizes security practices: verify communication, use multiple authentication factors, and be alert to SIM swap fraud.
Source: businesstech.co.za
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
