Capitec has issued several warnings to its clients about a surge in increasingly sophisticated scams targeting South Africans at the start of 2026.
Over the past few months, the bank has sent alerts to customers warning them about scams at ATMs, as well as phone calls from fraudsters impersonating Capitec staff or members of the South African Police Service (SAPS).
According to the bank, criminals are using distraction tactics at ATMs to steal cards and PINs, often posing as helpful strangers.
Capitec has urged clients to stay vigilant by covering the keypad when entering their PIN, refusing assistance from strangers, and avoiding predictable PINs such as birth dates.
Customers are also advised never to store PINs on their phones and to immediately stop a card through the banking app if it is lost or stolen.
Phone-based scams remain a major concern. Capitec warned that fraudsters may call customers while pretending to be bank officials.
These criminals attempt to gain access to accounts under the guise of “verifying” information or addressing suspicious activity.
To counter this, the bank has reinforced its in-app call verification system, which displays a banner when a genuine Capitec agent is on the line.
A green banner confirms the call is legitimate, while a red banner indicates a scam. Clients have been cautioned not to rely on caller ID apps and to hang up immediately if told that the verification feature is not working.
Impersonation scams involving SAPS are also on the rise. In these cases, fraudsters often claim that there is a warrant for the victim’s arrest and demand immediate payment to make the problem disappear.
Capitec stressed that SAPS will never ask for money, PINs, or banking details over the phone, nor will they instruct someone to sign into their banking app.
Anyone receiving such a call is advised to hang up and contact SAPS directly using an official number.
Billions of rands lost to digital banking fraud
These warnings come amid growing evidence that fraud remains widespread in South Africa.
TransUnion’s latest Consumer Pulse Study found that 59% of consumers were targeted by fraud attempts, while 12% ultimately fell victim.
Phishing, voice-based scams, and gift card fraud were among the most common tactics.
When notified of data breaches, only 16% signed up for identity monitoring services, while more than half of respondents said they felt confused about how to protect themselves online.
The scale of the problem is highlighted by figures from the South African Banking Risk Information Centre, which reported that R2.72 billion was lost to financial crime in 2024.
Digital banking fraud accounted for the bulk of this amount, with losses of R1.89 billion. Incidents of digital fraud surged by 86% year-on-year, while losses increased by 74%.
Banking app fraud was the single most significant contributor, responsible for more than 65% of digital fraud cases and losses exceeding R1.2 billion.
Financial Sector Conduct Authority commissioner Unathi Kamlana warned last year that unchecked digital fraud poses a serious threat to public trust in the financial system.
He emphasised that collaboration among banks, regulators, telecommunications providers, and law enforcement is essential, noting that criminals thrive on gaps and fragmentation within and across institutions, even across borders.
In response, the FSCA has launched its Digital Banking Fraud Project, working closely with the banking sector to identify vulnerabilities and reduce risk.
The initiative includes coordinated reporting, fraud mapping, real-time monitoring, disruption of criminal networks, and expanded consumer education.
The regulator has also made it clear that fraud is not merely an operational issue, but a governance and conduct risk that demands attention at the highest levels of financial institutions.
