FNB warns criminals are targeting bank accounts of one group of people in South Africa

• Older South Africans are increasingly being targeted by digital fraudsters because criminals can exploit both their accumulated wealth and their trust in perceived authority.
• This is particularly evident among people aged over 55, and especially those over 60, as fraudsters have become far more sophisticated, moving beyond fake websites and crude impersonations to using information gathered about potential victims to create convincing scams.
• Banks need to fight the problem on two fronts, as fraudsters can now automate large volumes of convincing communications, while fake caller profiles, photographs and other details can make criminals appear to be legitimate bank employees.