South Africans lost R2.4 billion to digital banking fraud in 2025, according to the South African Banking Risk Information Centre (SABRIC). Its 2025 Annual Crime Statistics Report calls digital banking crime the “biggest threat” in the sector, with losses up from about R1.9 billion in 2024.
The numbers in the SABRIC report
BusinessTech, reporting on the full report, says client claims for digital banking crime totalled about R2.4 billion across 110,074 reported incidents. That gives an average loss of about R21,865 per incident. The figure is per incident, not per person, because one victim can be hit more than once and many incidents involve small amounts.
Claims have more than doubled in two years. They were R1.09 billion in 2023 and about R1.9 billion in 2024, and the 2025 total is a 29.2% rise on 2024, according to BusinessTech. Some outlets give the 2024 base as R1.86 billion and others as about R1.9 billion, so the exact percentage varies slightly with rounding.
Where the losses happen
Banking apps dominate. BusinessTech reports that app-related crime made up about 89% of cases and 70.5% of claim value. Internet banking accounted for fewer than 9% of cases but 28.6% of claim value, which suggests larger average losses per case on that channel. Mobile banking made up fewer than 3% of cases and under 1% of value, though it is linked to SIM-swap fraud.
SABRIC’s own summary says banking app-related crime made up more than 70% of reported digital banking losses, which matches the value share above.
The sources describe the method as manipulation of customers, not attacks on bank systems. BusinessTech lists impersonation, voice phishing, remote-access software and false payment instructions as common tactics, and says SABRIC warns that artificial intelligence is making these scams harder to spot.
Cards, ATMs and other fraud
Digital banking is not the only line that moved. SABRIC reports that card fraud losses rose 18% to R1.7 billion, and describes card-not-present fraud as “one of the most significant fraud types” affecting consumers. At the other end, ATM attacks fell 46% and associated cash losses fell 63%. Physical crime against banks is shrinking while fraud against customers grows.
BusinessTech adds that fraudulent vehicle asset finance applications rose 41%, with value declined up 43.8%. Fraudulent applications for unsecured lending fell 34%.
A R800,000 case and older victims
A second BusinessTech report carries a personal account. Trevor Kingsley-Wilkins of NMG Benefits says his mother was targeted by people posing as her bank’s fraud department. They asked for her PINs, which were then used to authorise the theft, and she lost R800,000. In his words, “They knew enough about her accounts to sound credible.” This is one person’s account and is not part of the SABRIC statistics.
Christopher Boxall, head of card transact at FNB, is quoted saying fraud cases involving customers over 55, especially those over 60, are rising month to month and that the trend is industry-wide. The report says older customers may be less familiar with authentication processes and more likely to trust people claiming authority. These are statements from a bank executive, not SABRIC findings.
Common tactics and protective steps
According to the same report, scammers create a false emergency, claim an account is compromised, and ask victims to give up PINs, passwords or one-time passwords. Other tactics include suspicious WhatsApp messages from unfamiliar numbers claiming to be relatives, fake competitions, investment offers promising high returns without risk, and fake retirement officials offering to unlock two-pot retirement money for an upfront fee.
The advice in the report is practical. “Consumers should never share these security codes with anyone claiming to represent their bank.” If a call or message seems suspicious, end it and contact the institution on a number you have found independently. Use strong, unique passwords, turn on two-factor authentication where it is offered, protect personal information and dispose of sensitive documents securely.
For businesses that pay staff, suppliers or contractors through banking apps, the same caution about urgent payment instructions applies, since false payment instructions are among the listed tactics. Read more in our Regulatory & Policy section.
