Deepfake Scams Surge 1,200% in South Africa, Targeting Banking & Fintech Apps

South Africa is facing a dramatic surge in cyber fraud as deepfake scams have risen by more than 1,200% in 2025, with criminals increasingly targeting banking and fintech apps.

A new report by cybersecurity experts shows that fraudsters are using AI-powered voice and facial deepfakes to bypass biometric authentication systems, tricking financial institutions and unsuspecting users. Victims often receive fraudulent calls or video messages that appear to come from trusted contacts or customer service representatives, leading to unauthorized account access and massive financial losses.

Banking executives warn that the rise of deepfakes could become one of the most dangerous threats to Africa’s digital economy. “Traditional fraud detection systems are struggling against AI-generated impersonations. Without rapid investment in counter-AI tools, millions remain at risk,” one cybersecurity consultant said.

South Africa’s regulators are now under pressure to strengthen digital identity laws, while banks are deploying more advanced liveness detection systems, behavioral biometrics, and multi-factor authentication to outsmart fraudsters.

The rise of deepfake-driven fraud also highlights broader global concerns about the misuse of generative AI technologies. Experts argue that African countries must urgently build awareness campaigns and strengthen cross-border collaboration to fight cybercriminal networks that exploit these tools.

As fintech adoption accelerates across the continent, the battle between fraudsters and security providers is only expected to intensify.