Picture: Unsplash / rupixen
South Africans who use banking apps are being warned about a fast-growing form of digital fraud known as Remote Access Trojan or RAT attacks.
RATs give criminals remote control of a phone so they can operate banking apps while the customer believes they are using the device, reports Cape {town} Etc.
Also see:Â 3 Savvy ways to trim your banking costs
The scam usually starts with a call or message that claims to be from a bank, courier or government office and asks the user to install an app or click a link.
Bonolo Sebolai, head of fraud at TymeBank, said:‘RAT scams are particularly dangerous and extremely sophisticated because they are designed to use the device at the same time as the customer without any clear signs of a device takeover.’
The National Financial Ombud Scheme reported a 73% rise in digital banking fraud complaints between January and May 2024 and the same period in 2025 and flagged losses linked to virtual banking cards, including one case of R500 000.
Also see:Â How to identify and steer clear of online scams
Nerosha Maseti, lead ombud for banking and credit, urged users to report suspected fraud to their bank immediately.
Banks are boosting security with real-time behavioural monitoring and risk-based checks. Consumers should only download apps from official stores, hang up on suspicious calls and contact their bank directly if something feels wrong.
‘If you are being rushed to act immediately, that is one of your biggest red flags,’ Sebolai added.
Compiled by Angelica RhodaÂ
First published on Cape {town} etc
Also see:Â What every account holder should know about their banking rights