Capitec Rolls Out Real-Time Fraud Alerts in Major Win for Customers

• Capitec introduced a real-time fraud detection feature on its banking app to help customers identify suspicious transactions before money is sent
• The system warns users of potential risks and may delay payments for further checks, adding an extra layer of protection against scams
• The move comes as fraud tactics evolve, with criminals increasingly relying on manipulation rather than hacking to trick victims into sending money

As digital banking continues to grow, so do the risks that come with it. Many South Africans have found themselves navigating an increase in online scams, from fake investment deals to convincing impersonation messages. Banks have been under pressure to stay ahead of these tactics, and one major player has now introduced a new tool aimed at putting more control back into the hands of customers before it’s too late.

According to BusinessTech, Capitec introduced a real-time fraud prevention feature through its banking app, allowing users to detect potentially risky transactions before money leaves their accounts. The tool, which had been gradually rolled out since 2025, flags suspicious payments and gives clients the chance to pause and review before proceeding.

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Capitec’s Chief Information Officer, Andrew Baker, explained that the alerts are precautionary and do not necessarily mean the recipient is fraudulent. However, in cases where risk remains unclear, the bank may delay payments further while additional security checks are carried out. The goal is to intervene early, before any irreversible losses occur.

“If a payment shows signs of elevated risk, the client receives a warning and can pause to review the transaction before proceeding. These alerts are precautionary and do not mean a beneficiary is confirmed to be fraudulent.”

New app feature boosts fraud protection

The bank revealed that it blocked more than 394,000 fraudulent transactions in 2025 alone, preventing losses of over R642 million. It also identified tens of thousands of mule accounts used to move stolen money through the system, highlighting just how widespread and organised fraud has become. Capitec Executive Programme Head for Anti-Money Laundering, Blessing Mgaga, told BusinessTech:

“Additionally, we’ve identified and stopped more than 64,000 mule accounts used to move stolen money quickly through the financial system. These numbers show the scale of the threat, but they also show how fraud is changing. It is no longer only about breaking into systems.”

Capitec added that modern scams often rely less on hacking and more on influencing people to act quickly without thinking. From fake marketplace deals to impersonation messages and investment schemes, many scams depend on urgency and trust. The bank encouraged customers to pause before making payments, verify offers properly, and avoid deals that seem too good to be true.

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3 Other Briefly News stories to banks

• Capitec has expanded its Smart ID service to 67 branches across all nine provinces, pushing South Africa past 100 bank branches for the first time.
• A young Cape Town man showed Mzansi how to skip the Home Affairs queue entirely using just a Capitec branch and R150.
• A bizarre incident involving a KwaZulu-Natal family and Capitec Bank has gone viral globally after being featured by a US-based media giant.

Source: Briefly News