Bank Alert – In a significant move to curb the rising wave of banking fraud and digital scams across South Africa, financial institutions have extended the scam protection registration deadline to 25 July 2025. This comes after thousands of citizens failed to update their fraud protection preferences by the original cut-off date. The extension gives account holders one final chance to act before facing account restrictions or increased vulnerability to unauthorized access. The South African Banking Risk Information Centre (SABRIC) and major banks such as Capitec, Standard Bank, ABSA, Nedbank, and FNB are urging customers to opt-in for enhanced fraud protection settings. These updates include two-factor authentication (2FA), SMS/email alerts, biometric verification, and transaction limits for online banking. This effort aligns with the latest compliance advisory from the Financial Sector Conduct Authority (FSCA), which emphasizes customer education and tighter security controls. Those who fail to act by midnight on 25 July 2025 may lose access to digital banking or be held liable for losses resulting from phishing, SIM swap fraud, and unauthorized EFTs. In 2024 alone, over R275 million was stolen through impersonation scams and online fraud, prompting the urgent regulatory alert. The current scam protection drive is part of a joint initiative between banks and regulators to reduce these numbers by over 50% in 2025. If you’re a bank customer in South Africa, this article will help you understand what changes are being made, how to activate your scam protection settings, and who to contact for support.
Bank Alert – Why the 25 July Scam Protection Deadline Matters
With digital fraud escalating, banks are tightening their systems. Here’s why this deadline is critical:
- Rising digital fraud cases, especially phishing and SIM-swap attacks
- New rules require all digital banking users to activate enhanced scam protection
- Unprotected accounts may be temporarily frozen after 25 July 2025
- Increased liability on customers if security settings are not updated
- Banks are now enforcing mandatory fraud alert settings for online users
- Users must confirm mobile numbers and activate biometric login
- Failure to respond will result in restricted or limited transactions
Key Scam Types and Bank Action Plans
| Scam Type | Description | 2024 Losses (Est.) | Bank Action | User Response Needed |
|---|---|---|---|---|
| Phishing Emails | Fake links to steal login info | R98 million | Anti-fraud filters + alerts | Change passwords |
| SIM Swap Fraud | Hijacking phone numbers to access OTPs | R66 million | Mobile confirmation rules | Update mobile details |
| Fake Loan Scams | Fraudsters offering fake loans via SMS | R35 million | Blocklisted keywords | Ignore/report SMS |
| Remote Access Scams | Fake tech support gaining system access | R27 million | App permission warnings | Deny unknown access |
| Debit Order Fraud | Unauthorized auto-debits from accounts | R21 million | Reversal options added | Check bank statements |
| Investment Scams | Unrealistic returns promised via email | R18 million | Scam detection AI | Verify investment sites |
| Spoofed Calls | Fake bank calls to extract PIN/OTP | R10 million | Call-blocking features | Never share OTPs |
| QR Code Scams | Malicious QR links redirecting payments | R5 million | QR validation on app | Scan only verified QR |
What Users Must Do Before 25 July 2025
Customers must complete all of the following actions to stay protected:
- Log in to your banking app or internet banking portal.
- Go to the Security Settings or Scam Protection Settings section.
- Activate the following:
- Two-Factor Authentication (2FA)
- SMS and Email alerts for every transaction
- Login attempt notifications
- Biometric authentication (if available)
- Update your mobile number and email address.
- Set limits for online and card-not-present transactions.
- Opt in for monthly scam reports and alerts from your bank.
- Report any suspicious messages, emails, or calls to your bank immediately.
Which Banks Are Participating in the Scam Protection Drive?
Nearly all major South African banks are enforcing the 25 July rule. Here’s a quick look:
| Bank Name | Scam Protection Opt-In Required | Actions Enforced After Deadline |
|---|---|---|
| Capitec Bank | Yes | Freeze online banking if no update |
| Standard Bank | Yes | SMS OTP lockout after 25 July |
| FNB | Yes | Restricted access to FNB App |
| ABSA | Yes | Limited transaction amounts enforced |
| Nedbank | Yes | Email verification mandatory |
| TymeBank | Yes | Auto-lock on abnormal logins |
| African Bank | Yes | New fraud response settings enforced |
Departmental Contacts for Scam Support and Verification
If you’re unsure about the process or need help, contact the dedicated fraud prevention departments listed below:
| Bank Name | Scam Help Contact Number | Email Support | Scam Reporting Page |
|---|---|---|---|
| Capitec Bank | 0860 10 20 43 | [email protected] | capitecbank.co.za/report-fraud |
| FNB | 087 575 9404 | [email protected] | fnb.co.za/scamalert |
| ABSA | 0860 557 557 | [email protected] | absa.co.za/security |
| Standard Bank | 0860 123 000 | [email protected] | standardbank.co.za/fraudcenter |
| Nedbank | 0800 110 929 | [email protected] | nedbank.co.za/scamwatch |
| TymeBank | 0860 999 119 | [email protected] | tymebank.co.za/help |
| African Bank | 0861 111 011 | [email protected] | africanbank.co.za/report-fraud |
Signs That Your Bank Account May Already Be at Risk
If you’ve experienced any of the following recently, take immediate action:
- Received OTPs without initiating transactions
- Unknown debit orders appearing on your statement
- Locked out of your online banking profile
- Calls from “bank officials” asking for your PIN or OTP
- SMS alerts about loans or transactions you didn’t initiate
New Fraud Prevention Technology Introduced in 2025
To increase detection and prevention, banks have started deploying the following:
- Artificial Intelligence-based real-time fraud monitoring
- App-based voice recognition authentication
- Geo-location tracking for login attempts
- Fraud prevention education through banking apps
- Monthly “Scam Score” reports for users
- Real-time debit order reversal within 60 seconds
What Happens If You Miss the 25 July Deadline?
Missing the deadline could result in temporary digital banking restrictions, including:
- Inability to access mobile banking apps
- Delayed or failed online payments
- No SMS/email alerts for suspicious activities
- Customers held responsible for any fraudulent losses
- Mandatory in-branch visit required to reactivate digital profile
Comparison of Scam Protection Features (2025 vs. 2024)
| Feature | Available in 2024 | Enforced in 2025 | Mandatory for All Users |
|---|---|---|---|
| Biometric Login | Optional | Yes | Yes |
| SMS Alerts for All Payments | Optional | Yes | Yes |
| QR Code Verification | No | Yes | Yes |
| Remote Login Notification | Optional | Yes | Yes |
| In-App Fraud Education | Limited | Yes | No |
| Auto-Debit Reversal | 48 hours | 60 seconds | Yes |
| OTP on Every Login | Sometimes | Yes | Yes |
| Scam Score Alerts | No | Yes | Optional |
If you’re reading this and haven’t yet updated your scam protection settings, don’t wait until it’s too late. Log in to your banking platform today or visit the nearest branch before 25 July 2025. This final extension is your opportunity to secure your finances before stricter enforcement begins.
FAQs of Bank Alert
1. What happens if I miss the scam protection deadline?
You may face restricted access to digital banking and be held liable for fraud-related losses.
2. Is scam protection mandatory for all bank users?
Yes, all users with internet or app-based banking must activate these settings by 25 July 2025.
3. Will my bank notify me if I haven’t completed the settings?
Most banks are sending daily SMS and email reminders, but users are responsible for compliance.
4. Can I visit a branch for help with scam protection settings?
Yes, all banks have trained fraud support staff available at branches to assist you.
5. Are pensioners or grant recipients also required to update settings?
Yes, especially as they are prime targets for fraud. Protection is mandatory for all account types.