Capitec warns of new banking scam targeting customers

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Financial services group Capitec has warned that voice phishing, also known as vishing, is becoming an increasingly common banking scam in South Africa.

The bank said that fraudsters have become increasingly sophisticated and some criminals even play music and call centre sounds to make it seem like it’s the bank on the phone.

Jimmy Sounes, head of forensic services at Capitec, said vishing is currently an industry-wide issue.

“Social engineering sees fraudsters convince a target to share their information, by gaining their trust. For example, the criminal might read you your account number or ask you if you still have a debit order for a certain store. They’ll know something personal about you.”

Then, they shock you by telling you something is wrong, he said. “They pretend to be your bank’s forensic department. They may say there’s a big fraud on your account that you need to stop.

“Or that there’s a massive $10,000 debit order from…

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