Banking app scam epidemic hits South Africa with express kidnappings and remote trojans draining accounts. Criminals use sophisticated tactics to exploit mobile banking security vulnerabilities.
FNB faces scrutiny after a nationwide Black Friday outage and claims in Parliament that it enabled money laundering linked to an alleged bribe to Bheki Cele.
FirstRand has acquired a 20% stake in Optasia, a Dubai-based fintech company working with MTN, Vodacom and Standard Bank in South Africa, ahead of its upcoming JSE listing.
South Africa’s banks are joining the Department of Home Affairs to let people apply for smart IDs and passports at bank branches and apps, helping ease long queues.
South Africans can now apply for a smart ID at Capitec branches, thanks to a new partnership with the Department of Home Affairs.
Capitec Bank reported a 30% surge in 2025 headline earnings as customers faced repeated app outages and executives walked away with multimillion-rand payouts.
Capitec users across South Africa were unable to access their banking app as the bank confirmed a service outage.
In a statement, Standard Bank acknowledged the problem and apologised for the inconvenience caused to its customers.
Some Standard Bank customers reported receiving their salaries only after 07:00, leading to widespread concerns on social media.
The company’s headline earnings took a dramatic plunge, reporting a loss of R58.68 million, a stark contrast to the profit of R112.68 million in 2023.
The outage, which began in the morning, disrupted mobile and online banking, with users reporting problems logging into the Capitec app and completing transactions.
The outage, which began around 12:30, led to a surge in reports of issues with FNB’s services, according to live tracking data from Down Detector.
Users reported issues with mobile banking, online banking, and ATM services.
Former Absa Bank manager Mandisa Ndletyana and two accomplices have been sentenced for orchestrating a R1 million credit card fraud scheme involving trafficked individuals.
On Friday, the Nedbank app went down, causing frustration among users due to interrupted online and mobile banking services.
Capitec Bank app users faced login failures on 29 February 2024,
Wesbank is under scrutiny following accusations from a former employee and financial investigator Emerald van Zyl.
Standard Chartered agrees to a R42 million settlement in a price fixing case involving the manipulation of the rand-dollar currency pair,
Standard Bank has confirmed the authenticity of documents provided by the EFF to AfriForum, related to a legal costs bill settlement.
Despite this focus on expanding competition in the digital payments arena, Capitec has recently faced its own challenges, with customer frustrations related to system outages and technical issues.
Capitec users were rocked out of sleep when, on Tuesday, 25 April 2023, the banking app reflected zero balances.
Capitec has yet to issue a formal statement on the problem experienced by users with their banking apps and online mobile services on Thursday.
Some Capitec users get insufficient fund notifications when trying to use money available in their accounts.
With a money transfer service, you may send money in a jiffy and choose from a variety of payment alternatives.
Capitec customers must follow this simple troubleshooting method to fix the app login error.
Nthabeleng Likotsi tried to unpack YWBN Mutual Bank’s business model in a press conference that did her more harm than good.
