“This Is Nothing New”: Mzansi Reacts to South African Banking App Fraud Warning in TikTok Video

• South African banking app users are being warned about fraudsters tricking them into approving fraudulent payments themselves
• TikTok creator EJV shared the fraud warning video on 21 July 2026, citing a report by BusinessTech
• Fraud specialists revealed that South African banks lose more than R82 million every year to fraud

South African banking app users face fresh warnings about approving suspicious payment requests immediately. Discovery Bank says fraudsters are tricking customers into approving fraudulent transactions themselves directly.

TikTok creator EJV shared a video about the alert on 21 July 2026. The alert, according to a report by BusinessTech, warns of fraudsters manipulating customers.

According to the report, Discovery Bank explained that criminals can misuse a stolen phone or card within minutes. Customers should check every payment request carefully before approving anything on their app. Anyone who loses their card or phone must block it immediately through the app. Contacting the bank’s fraud team without delay remains extremely important for affected customers.

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Banks strengthen fraud detection systems

Fraud-prevention specialist BioCatch found that South African banks face growing pressure from sophisticated scams. Around 85% of banking leaders reported increasing fraud attempts against their institutions this year.

Roughly 81% estimated their institutions lose more than R82 million to fraud annually. Jonathan Frost from BioCatch said South Africa faces the same challenge as other developed markets. He explained that strong account security now pushes criminals toward manipulating customers directly instead.

GoTymeBank’s Bonolo Sebolai said fraud protection now extends far beyond passwords and one-time PINs. She urged customers to download banking apps only from official app stores for safety. Sebolai also advised people to contact their bank directly if a message seems suspicious.

Digital banking fraud complaints also jumped sharply, according to the National Financial Ombud Scheme. Cases rose by 73%, climbing from 1,436 complaints in 2024 to 2,483 in 2025. The Ombud also flagged risks involving virtual banking cards linked to phishing scams. One victim reportedly lost R500,000 after criminals accessed their digital banking profile. Lead Ombud Nerosha Maseti explained that fraudsters exploit stolen OTPs and authentication prompts.

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South Africans reacted strongly online, with many sharing frustration over ongoing banking scams. One person joked that scammers should rather target people’s debts instead of savings. Another commenter said the news felt repetitive, calling the warning nothing particularly new. Some users admitted they had personally fallen victim to similar banking scams before.

See the report below:

Source: Briefly News