Last year, fraud in South Africa led to financial losses nearing three billion rand, highlighting the urgent need for stronger protections against financial crime. In response, cross-industry collaboration between the mobile, banking, and technology sectors is playing a pivotal role in providing critical defences for consumers and financial institutions alike.
South Africa became the second country to launch the Scam Signal platform, following its successful deployment in the UK. The system is designed to combat Authorised Push Payment APP fraud, a type of scam where criminals trick individuals or businesses into authorising payments to accounts controlled by the fraudsters. APP fraud typically involves sophisticated social engineering, such as impersonating trusted organisations or creating a sense of urgency to manipulate victims. Because victims willingly initiate these payments, banks often find it more difficult to halt or reverse losses compared to unauthorised transactions.
The launch of Scam Signal in South Africa was a result of collaboration among several major banks, MTN Chenosis, global data analytics company FICO, Jersey Telecom JT, and the GSMA. The initiative went live in October 2025 to provide enhanced fraud protection for millions of banking customers. Brian Gorman, Fintech Lead at GSMA, highlighted the importance of partnership in addressing this challenge. He also acknowledged the support of the South African Banking Risk Information Centre SABRIC, whose coordination of discussions with banks and mobile network operators was key to creating a unified approach to combating financial crime.
