What to Do if You Suspect Fraud on Your Bank Account (SA Edition)

Fraud on a bank account is frightening, time-sensitive, and solvable if you act fast and follow the right steps. This South African edition lays out exactly what to do in the first minutes and days, how liability usually works, which bodies can help, and how to harden your accounts to prevent a repeat. It is written for consumers and small businesses banking in South Africa, and it avoids legal jargon wherever possible while remaining accurate.

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At a glance: your first 60 minutes

1. Secure your banking profile immediately
   • Use your banking app or online banking to freeze or lock your card(s) and temporarily block digital banking if your bank offers the feature. Many apps allow instant limits to be set to R0 for card swipes, ATM withdrawals, tap-to-pay, online purchases, and international transactions.
   • Change your passwords and PINs from a safe device you control. If you suspect a compromised phone, use a clean computer on a trusted network.
   • Log out of all devices in your banking app (most apps provide a “sign out of other sessions” control).
2. Call your bank’s official fraud line
   • Use the number in your banking app or on the back of your card. Explain exactly what happened, obtain a reference number, and ask the agent to monitor, block, and flag suspicious activity. If you can see specific transactions, ask for a dispute or chargeback process to be initiated where applicable.
3. Check for SIM-swap or number porting
   • Loss of signal and a flood of banking notifications may indicate a SIM-swap. Contact your mobile network from another phone, request an immediate reverse SIM-swap or lock, and set a higher-assurance SIM-swap PIN if your network offers it.
4. Screenshot and save evidence
   • Save SMS notifications, push alerts, screenshots of the banking activity, emails, call logs, and any messages from the fraudster. Note the exact times of events.
5. Report the crime
   • Report to the South African Police Service (SAPS) and obtain a CAS number. If your bank or a service provider requests a sworn statement or affidavit, prepare one promptly.

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The next 24–72 hours: build your case and close the gaps

1) Request formal investigations and reversals

• Card and wallet transactions (chargebacks): For unauthorised card transactions, ask your bank to initiate a chargeback under the relevant card-scheme rules. Provide receipts, screenshots, and any proof that you did not authorise the purchase. Timelines are strict in card schemes, so act quickly.
• EFTs, instant payments, and PayShap: Request a payment recall or scam-reversal request where possible. These are not guaranteed, particularly where you were deceived into authorising the payment (often called “authorised push payment” fraud), but early action improves your chances.
• Debit orders: Dispute any unauthorised debit orders through your bank. Under payment-system rules, disputes raised promptly are typically reversed quickly, while older disputes may take longer as banks request proof of mandate from the collecting party. Provide a simple note stating you did not authorise the debit or that the debit breached your authority (for example, wrong date or wrong amount).

2) Close security holes beyond the bank

• Email and cloud accounts: Reset passwords and enable multi-factor authentication (MFA). Many frauds start with an email compromise that lets criminals reset banking credentials.
• Devices: Run malware scans. Remove unknown browser extensions. Update operating systems and banking apps.
• Mobile number security: Ask your network to add a SIM-swap lock or enhanced identity verification on your line. If a fraudulent SIM-swap occurred, ask for the logs.

3) Put fraud alerts on your credit profile

• Notify TransUnion, Experian, and Compuscan that you have been a victim of fraud and request extra verification for new credit applications. Pull a credit report to check for unauthorised accounts.

4) Keep a paper trail

Create a simple incident file with:

• Timeline of events (date and time stamps).
• Bank reference numbers and names of agents spoken to.
• Copies of your dispute forms, affidavits, and the CAS number from SAPS.
• Screenshots and PDFs of statements and transaction logs.

This file is essential for follow-ups with your bank, the ombud, or law enforcement.

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Understanding liability in South Africa (and how to argue your case)

Liability for fraudulent losses depends on how the fraud occurred and whether you, the bank, or a third party failed to act reasonably.

• Unauthorised transactions that you did not initiate. If a criminal accessed your account without your authorisation and you did not disclose confidential credentials (for example, your OTP, CVV, PIN, or banking password), the bank may be liable where it failed to reasonably protect your account or follow internal and inter-bank fraud-mitigation processes. The Ombud for Banking Services (OBS) examines whether the bank acted reasonably, followed scheme rules and processes, and responded promptly to red flags.
• Authorised push payment (APP) scams. If you were tricked into authorising a payment (for example, a fraudster posing as your bank or supplier), South African law does not currently provide automatic reimbursement. That said, you may still succeed with a complaint if you can show maladministration by the bank (for example, failure to follow its own processes or industry rules) that contributed to the loss. Provide a detailed timeline and any evidence that the bank ignored warnings or failed to act on recall processes.
• OTP and credential disclosure. If you entered an OTP or shared login information after being deceived by a fraudster, the bank will often argue that you authorised the transaction and may deny reimbursement, unless there is evidence of bank error, system weakness, or maladministration. The OBS considers each case on its merits, including the clarity of notifications and whether the bank’s systems created avoidable confusion.
• Unauthorised debit orders. Payment system rules provide a structured dispute mechanism. When you lodge a dispute promptly, banks generally reverse first and investigate later for certain categories. After a longer delay, the bank may require additional proof and will contact the collector’s bank to produce the mandate.

How to frame your complaint for the best outcome

• Emphasise actions you did not take: “I did not share my OTP,” “I did not authorise this card-not-present purchase,” “This debit order was never mandated.”
• Highlight bank process failures: delays in blocking, failure to follow inter-bank recall procedures, or internal control lapses.
• Reference timeline discipline: you reported immediately, opened a CAS case, and provided all requested evidence.

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Where to escalate a dispute (and when)

1. Start with your bank’s internal complaints process. Ask for the official complaints email or portal and submit a concise, chronological complaint with all reference numbers and evidence. Banks are required to consider and respond within specified timelines.
2. Ombud escalation.
   • Ombudsman for Banking Services / National Financial Ombud Scheme of South Africa (NFO): If the bank’s final response is unsatisfactory, escalate your case. The ombud offers a free, independent dispute resolution process for bank customers (consumers and small businesses). Provide your full pack: complaint letter, bank responses, evidence, and CAS number.
   • FAIS Ombud (now within NFO): If your loss involves a non-bank financial service provider (for example, an independent financial adviser or a payment product sold under FAIS), you may also have recourse here.
3. Law enforcement and regulators.
   • SAPS: Keep your case active with your investigating officer. Provide additional evidence as it emerges.
   • Information Regulator: If your personal information was compromised by a company’s breach, you may raise concerns about notification and handling under South Africa’s data protection law.
   • ICASA / your mobile network: For SIM-swap and illegal porting complaints that facilitated the fraud, press for logs and process compliance.

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Step-by-step scripts and templates

Phone script for your bank’s fraud line

“I believe there is fraudulent activity on my account. Please freeze my card and digital banking profile immediately. My full name is [Name], ID number [ID], and I can confirm the last legitimate transaction was [time and amount]. I need a reference number for this call. I am disputing the following transactions: [list with amounts and timestamps]. Please initiate all applicable reversals and chargebacks, and flag my profile for additional monitoring. I will also submit a written complaint with evidence.”

Written complaint template (to your bank)

Subject: Urgent Fraud Dispute and Complaint – [Account Number / Card Number’s last 4 digits]

Dear [Bank Complaints Team],

I am reporting fraudulent activity on my account. A timeline follows:

• [Date, time] – First suspicious SMS/notification.
• [Date, time] – Card/App blocked; reference number [Ref] issued by your fraud line.
• [Date, time] – Transactions disputed: [List amounts, merchants, times, type].
• [Date, time] – SAPS case opened; CAS [number].

I confirm that I did not authorise these transactions and that I did not disclose my PIN, password, or one-time passwords. I request that you:

1. Initiate applicable chargebacks, payment recalls, and debit order reversals;
2. Provide written confirmation of the blocks on my card and digital channels;
3. Supply a formal outcome with reasons and all evidence relied upon; and
4. Confirm the inter-bank processes followed and their outcomes.

Please acknowledge receipt of this complaint and provide a reference number. I reserve my right to escalate this matter to the Ombud if I do not receive a satisfactory resolution.

Kind regards,
[Full Name]
[ID Number]
[Contact Details]

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Special scenarios and how to handle them

1) Fraud after a possible SIM-swap

• Treat loss of signal plus banking alerts as a critical red flag.
• Ask your network to confirm whether a SIM-swap or port request occurred, the time, the store or channel used, and the ID presented.
• Request a reversal of the SIM-swap and a SIM-swap lock going forward.
• Include the network’s process details in your bank complaint and in your ombud escalation if relevant.

2) Invoice interception and business email compromise (BEC)

• For SMEs, criminals often intercept supplier invoices and change the beneficiary account.
• Implement call-back verification to a known contact number before paying any changed banking details.
• If you paid the wrong beneficiary, request a payment recall immediately and notify both banks. Provide the fraudulent account details and the intercepted invoice as evidence.

3) Unauthorised debit orders that keep reappearing

• After disputing and reversing, contact the service provider in writing to cancel any mandate you never gave or no longer consent to.
• Ask your bank about stopping future debits from the same originator or blocking that user altogether.
• Keep a log of each reappearance and escalate through the bank’s complaints channel and then the ombud if the originator fails to produce a valid mandate.

4) Fraud on a virtual card or wallet

• Treat virtual card fraud the same as physical card fraud: dispute and request a chargeback.
• Ask the bank to confirm whether tokenisation controls and card-not-present security were functioning, and whether any location or device mismatches were evident.

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Your legal and regulatory environment (plain-English summary)

• Cybercrimes Act: Creates cybercrime offences and places obligations on certain entities, including financial institutions, to report cybercrimes to SAPS and preserve evidence.
• POPIA (Protection of Personal Information Act): Requires organisations to notify you and the Information Regulator of certain security compromises affecting your personal information. If your data was breached, you have a right to be notified and to ask what was compromised.
• Payments Association of South Africa (PASA) rules: Govern debit orders and modernised collections like DebiCheck, including dispute windows and mandate requirements.
• Ombud system: The Ombudsman for Banking Services (now within the National Financial Ombud Scheme of South Africa) provides free, independent dispute resolution for bank customers once the bank’s internal process has been exhausted.

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Common fraud types in South Africa (and the early warning signs)

• Phishing, vishing, and smishing: Emails, phone calls, or texts that mimic banks or retailers. Red flags include urgent tone, links to login pages, or requests for OTPs. Banks do not ask for OTPs or full passwords by phone or email.
• SIM-swap-assisted fraud: Sudden loss of mobile signal followed by banking notifications.
• Card-not-present fraud: Unauthorised online purchases, often small test transactions before larger spends.
• Authorised push payment scams: Impersonation of bank, SARS, a supplier, or law enforcement to pressure you into making a “safe” transfer.
• Malware and remote-access scams: A “technician” persuades you to install remote-control software.
• Debit order abuse: Small monthly debits from unknown companies.
• PayShap and instant payments fraud: Payments sent instantly and irrevocably to mules; early recall requests can still help if lodged immediately.

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Prevention: your permanent fraud hygiene checklist

Banking-app controls

• Lower default limits for card swipes, ATM withdrawals, online purchases, and international transactions.
• Enable transaction notifications (SMS and push).
• Use virtual cards with per-merchant or one-time limits for online shopping.
• Review beneficiaries regularly and delete those you no longer use.

Device and identity controls

• Keep your phone number on SIM-swap lock.
• Use a password manager, unique passwords, and app-based MFA (not only SMS).
• Keep operating systems, browsers, and banking apps fully updated.
• Avoid public Wi-Fi for banking.

Process discipline

• Verify any change to payment details with a call-back to a known number.
• Build a two-person rule for high-value payments in your business.
• Reconcile accounts daily if you run payrolls or handle client funds.
• Keep copies of supplier mandates for debit orders you have authorised.

Education and culture

• Train your family or team to never share OTPs and to treat every unexpected call or link as hostile until proven otherwise.
• Follow security advisories from your bank and South African banking crime bodies.

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Frequently asked questions

1) Will my bank refund me?
It depends. If the transaction was unauthorised and you did not disclose confidential credentials, you may be refunded where the bank was at fault or failed to follow reasonable processes. If you authorised the payment after being deceived (for example, provided an OTP), reimbursement is less likely unless there was bank maladministration. Always lodge a formal complaint and provide a complete evidence pack.

2) How fast must I act to dispute a debit order?
Dispute as soon as you see it. Early disputes are generally reversed quickly under payment-system rules. Older disputes usually require the collecting party to produce a valid mandate, which takes longer.

3) What is the role of the Ombud?
The Ombud provides a free and independent avenue to resolve disputes with your bank. You must first complete the bank’s internal complaints process. If you are still unhappy, lodge with the Ombud and provide all your evidence.

4) Do I have to open a case with SAPS?
Yes, report the crime and obtain a CAS number. Your bank and the Ombud may ask for it, and it helps law enforcement see patterns and link cases.

5) What if a SIM-swap enabled the fraud?
Push your network for logs and process details, reverse the swap, and harden your line with additional controls. Include these details in your bank complaint and any ombud escalation.

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A simple action plan you can save

1. Freeze cards and digital channels in the app.
2. Change passwords and PINs from a safe device.
3. Call the fraud line; get a reference number.
4. Dispute the transactions (chargeback / recall / debit order dispute).
5. Report to SAPS; get a CAS number.
6. Lock down your mobile number; check for SIM-swap.
7. Notify credit bureaus and monitor your reports.
8. File all evidence and submit a written complaint to the bank.
9. Escalate to the Ombud if unresolved.
10. Harden your security to prevent a repeat.

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Final word

Fraudsters exploit pressure and confusion. Your best defence is speed, evidence, and process. Move quickly to contain the damage, keep meticulous records, and escalate methodically. South Africa’s payments and ombud systems provide meaningful recourse, especially when you report early and present a clear, well-documented case.

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Sources

• South African Police Service – Report a Crime: https://www.saps.gov.za/services/report_crime.php
• Cybercrimes Act, 19 of 2020 (Government Gazette): https://www.gov.za/sites/default/files/gcis_document/202106/44651gon324.pdf
• Information Regulator (POPIA) – Security Compromise Notification Guideline: https://inforegulator.org.za/wp-content/uploads/2020/07/Guidelines-on-completing-a-Security-Compromise-Notification-ito-Section-22-POPIA.pdf
• POPIA – Section 22 (Security Compromises): https://popia.co.za/section-22-notification-of-security-compromises/
• Payments Association of South Africa (PASA) – Debit Order FAQ (Aug 2024): https://pasa.org.za/wp-content/uploads/2024/08/Debit-Order-FAQ-1.pdf
• Ombudsman for Banking Services (OBS) – Complaint Lodgement: https://obssa.co.za/form/
• Ombud Council – OBS Mandate Overview: https://ombudcouncil.org.za/wp-content/uploads/2022/03/OMBUDSMAN-FOR-BANKING-SERVICES.pdf
• National Financial Ombud Scheme of South Africa (NFO) – General Information: https://nfosa.co.za/faqs/
• SABRIC – How to Stay Safe (fraud and SIM-swap guidance): https://www.sabric.co.za/how-to-stay-safe/
• ICASA – SIM-swap and illegal porting awareness (Dec 2024): https://www.icasa.org.za/uploads/files/The-Focus-Volume-4_-Issue-no.3.pdf
• Standard Bank – Safety and Security When Banking (customer guidance): https://www.standardbank.co.za/southafrica/personal/about-us/financial-education/cybercrime-and-fraud/safety-and-security-when-banking
• FNB – DebiCheck FAQs (customer guidance): https://www.fnb.co.za/downloads/ways-to-bank/DebiCheck_FAQs_customer_1April2019.pdf
• SAPS – Cybercrimes Act SOP (context for cyber fraud categories): https://www.saps.gov.za/resource_centre/notices/downloads/SAPS-CCA-SOP-FINAL-12-09-2023.pdf
• Banking Association of South Africa – Complaints Procedures (ombud overview): https://www.banking.org.za/consumer-information/consumer-information-legislation/complaints-procedures/