AI fraud is outrunning South African banking defences
South Africans are increasingly being targeted by AI-generated fraudsters who sound just like bank employees.
South Africans’ ingrained wariness of crime and a relatively low GDP are helping to shield them from falling victim to AI-powered fraud, according to Alistair Pugin, the founder of cloud technology provider Celyntis. While South Africans are not immune to AI-facilitated scams, the nation’s culture of heightened suspicion may make them less susceptible targets compared to individuals in wealthier regions.
Pugin noted that South Africa accounts for under 1% of all records in the Artificial Intelligence Incident Database (AIID) between March 2023 and April 2026, despite the evolving use of AI for fraud, manipulation, impersonation and the creation of false information. However, as AI technology continues to advance rapidly, the situation could change, potentially exposing more South Africans to AI-enabled threats due to increased access and lower costs associated with the technology.
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