A 2026 survey by Biocatch of 100 banks locally indicates that South African banks are facing an increase in fraud-related crimes.
South African banks are facing a sharp rise in fraud-related crimes as criminals become more sophisticated and exploit the rapid growth of digital banking and instant payment systems.
This is according to a 2026 survey of 100 fraud and financial crime leaders at banks across South Africa by BioCatch, which found that 75% of respondents reported increasing fraud attempts at their institutions.
The survey paints a picture of an increasingly complex fraud environment driven by faster payments, artificial intelligence tools, data leaks, and organised criminal syndicates operating across borders and digital platforms.
According to the report, criminals are increasingly impersonating banks, government agencies and trusted brands to manipulate consumers into authorising fraudulent payments. Banks are also facing mounting pressure from account takeover fraud, identity theft, SIM-swap attacks and mule-account activity.
