InstaPay users warned of new phishing scam targeting bank accounts

Cybersecurity expert Mostafa Rahim has warned of a growing AI-powered phishing scam targeting InstaPay users and other financial applications in Egypt, as reported by Egypt Independent. Scammers are using sophisticated artificial intelligence to create fake websites and interfaces that closely resemble official bank portals. These fraudsters distribute malicious links through messaging platforms, tricking unsuspecting victims into entering their sensitive credentials on deceptive pages.

The scams specifically target elderly citizens and those with limited digital knowledge, with attacks surging in the run-up to monthly pension distributions. Attackers capitalize on these timing windows by sending fraudulent messages, promising pension increases or government relief initiatives in exchange for personal information.

To prevent exposure, Rahim advised consumers to follow stringent digital safety protocols: never share One-Time Passwords (OTPs), verify web addresses using tools like Google Safe Browsing or VirusTotal, avoid opening unsolicited media, and confirm any promotional offers or account inquiries through official bank hotlines or verified customer service channels.