AI-powered spoofing scams on the rise, bank cautions
Fraudsters are exploiting artificial intelligence to impersonate bank officials with alarming accuracy. Standard Bank urges customers to stay alert, verify suspicious calls or emails, and remember that no legitimate request will ever involve sharing confidential details.
STANDARD Bank has raised the alarm over a sharp increase in spoofing scams, where fraudsters use artificial intelligence (AI) to impersonate bank officials through emails and phone calls that appear legitimate.
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“With the rapid development of artificial intelligence (AI), we have seen an alarming enhancement in spoofing techniques. Current scams look and sound more real than ever before,” said Adv. Athaly Khan, Head of Fraud Risk Management at Standard Bank.
Spoofing is a method used by criminals to manipulate caller IDs or email addresses so they appear to come from trusted institutions like banks. When combined with vishing (voice phishing), fraudsters use cloned voices, genuine-sounding disclaimers, and personal details to trick customers into believing they are speaking to a real bank representative.
In many cases, callers claim they are following up on suspicious activity or offering a service, before urging the victim to transfer money to a “safe” account, scan QR codes, or disclose sensitive information such as One-Time-Pins (OTPs) and instant money voucher codes.
Similarly, phishing emails now replicate official branding and use threatening or urgent language to pressure customers into quick action. These emails often contain malicious links, attachments, or QR codes that can install harmful software or redirect victims to fake websites designed to steal login details and card information.
Khan urged customers to remain vigilant.
“Stay safe, stay alert. Know what NOT to do, and what NOT to share.”
What NOT to do:
Do not transfer money to another account at someone’s instruction.
Do not create instant money vouchers on request.
Do not click links, download attachments, or scan QR codes from unsolicited messages.
What NOT to share:
Login details, card expiry dates, CVV numbers, OTPs, or ATM pins.
Account information or details of other financial products.
Personal information that could be used to impersonate you.
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