In a fresh warning to the public, Nedbank has raised concerns over a growing number of online scams disguised as lucrative investment offers, many of which trick victims into chatting on WhatsApp and handing over sensitive banking details.
According to the bank's fraud alert, criminals are pushing fake adverts on social media, promising impossibly high returns with glowing testimonials. These scams often impersonate real financial services and direct victims to engage via WhatsApp or click suspicious links, as reported by Business Tech .
Once a person responds, scammers commonly request that victims download remote access tools or reveal their Nedbank login and card details, opening the door for account takeovers and unauthorised transfers.
In response, Nedbank urged customers to:
- Stick to FSCA-registered financial institutions.
- Never share your Nedbank ID or card details.
- Be sceptical of guaranteed profits.
- Avoid downloading unknown software.
- Use only Nedbank's official platforms.
- Report fraud immediately by calling 0800 110 929.
Standard Bank has also flagged a disturbing rise in WhatsApp scams, particularly fake job and investment groups claiming to be linked to the bank or its affiliates, such as SBG Securities. These groups circulate fraudulent financial advice and false job ads offering unrealistic salaries or upfront commissions, clearly designed to exploit desperate job seekers.