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Fraud Alert - WhatsApp Fraud

What is WhatsApp fraud?

WhatsApp fraud is a social engineering scam used by criminals to exploit trust through impersonation and deception. It aims to manipulate victims into sharing sensitive information or transferring funds via WhatsApp messages or calls.

These scams are often orchestrated by organised criminal syndicates operating across multiple jurisdictions, which leverage increasingly sophisticated techniques to target both individuals and organisations.

With the growing scale and complexity of digital fraud, it’s critical for you and your organisation to remain vigilant, informed and proactive in mitigating risk.

How the Scam works

  1. You receive a WhatsApp message or call from someone claiming to be from your bank’s fraud department, alerting you to alleged suspicious transactions.
  2. The fraudster creates urgency and offers to “assist” by sending you a malicious link to reverse or stop the transactions. Clicking the link may:
    • Compromise your device;
    • Provide criminals with access to your banking credentials or apps; and
    • Result in unauthorised transactions and financial loss.

 

Another variant: Impersonation of senior executives

  1. Fraudsters impersonate an organisation’s senior executives (for example, its CEO, CFO or FD) and contact its finance or treasury teams.
  2. Victims are instructed to process urgent and confidential payments, often outside standard processes. The sense of urgency and authority is used to bypass controls.

 

Prevention tips

  • Keep in mind that Absa will never:
    • Ask you to click on a link to cancel or reverse a transaction;
    • Request your OTP, PIN or password; or
    • Instruct you to transfer money to a “safe account”.

Treat any such request as fraudulent.

  • Do not act on payment instructions received via WhatsApp without independent verification.
  • Confirm all payment requests using known and trusted contact details.
  • Ensure that payments are made only to verified beneficiaries.
  • Strengthen internal company controls by:
    • Implementing segregation of duties;
    • Performing regular account reconciliations; and
    • Conducting routine fraud awareness training for finance, treasury and accounting teams. (The CIB Fraud Strategy team is available to support awareness initiatives. Please engage your Banker for assistance.)
  • Always:
    • Contact your Banker or the CIB Fraud Hotline immediately if you suspect fraud on your account(s);
    • Avoid clicking on unsolicited links; and

Be cautious of unexpected or urgent requests received via WhatsApp.

 

Important reminder

Any legitimate WhatsApp communication from Absa will originate from an official, verified account (look for the blue tick).

Where to report

Report Fraud or Suspicious Activity through the following channels:

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