Criminals Use Express Kidnappings to Hack South Africans’ Banking Apps

• Criminals in South Africa are increasingly kidnapping people to steal money from their banking apps
• Many incidents happen in everyday places like shopping centres, parking lots, or home entrances
• Authorities warn that anyone with a predictable routine, valuable car, or phone with banking apps could be at risk

SOUTH AFRICA — Criminals in South Africa are using a new tactic to steal money: kidnapping people and forcing them to give access to their banking apps.

These “express kidnappings” happen when victims are quickly abducted during robberies or hijackings and pressured to unlock their phones and accounts.

How does this crime happen?

According to Business Tech, the Institute for Security Studies (ISS) says this crime is becoming more common.

Often, criminals act opportunistically, targeting anyone they spot. Sometimes, they deliberately choose victims they believe have lots of money. Depending on the criminals, they can steal anything from a few thousand rand to millions.

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Many incidents happen during everyday activities, such as shopping, commuting, or arriving home. CrisisOnCall’s Ruan Vermaak said criminals focus on people with well-paying jobs, nice cars, or predictable routines.

“Some kidnappings start as robberies or hijackings but escalate once criminals realise they can access money. They often strike in ordinary places, like parking lots, boom gates, or shopping centres,” he said

After taking the money, criminals sometimes abandon the victim and steal their vehicle.

According to the latest South African Police Service (SAPS) crime statistics, nearly 4,800 kidnapping cases were reported nationally between October and December last year.

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Rise in smartphone theft and digital banking fraud

This trend ties into a bigger rise in smartphone theft and digital banking fraud. The Southern African Fraud Prevention Service (SAFPS) and the National Financial Ombud Scheme (NFO) report increasing cases of criminals targeting phones to steal from banking apps.

Digital banking complaints jumped 73% earlier this year, and virtual banking cards are also at risk. NFO Lead Ombud Nerosha Maseti warns:

“Fraudsters can use virtual card details to steal money once they access a customer’s digital banking profile.”

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South Africans are being urged to stay alert, especially in public spaces where their phones and banking information could be at risk.

Banking industry issues a warning on online scams

In related news, the South African Banking Risk Information Centre (SABRIC) revealed that South African consumers lost approximately R2 billion to online scams in 2023. SABRIC said the number could be higher, as some cases were not reported. Cyber Insurance expert Lwando Cwane warned that there were many cases where people received SMSes or emails claiming to be sales from sites like Makro and Takealot, but these messages actually directed many people to fraudulent sites.

Previously, Briefly News reported that Standard Bank Group has faced rising criticism over an increase in fraud complaints and alleged security breaches. In recent months, reports of scams, compromised accounts, and potential internal vulnerabilities have continued to surface. Many customers have taken to social media and consumer platforms to report issues, including unauthorised transactions, phishing scams, and delays in resolving disputes with the bank.

Source: Briefly News