Capitec Bank has introduced a new real-time fraud prevention system aimed at helping customers detect and avoid suspicious transactions before money leaves their accounts.

The feature, integrated into the bank’s mobile app, analyses payments as they are made and flags potentially high-risk activity. According to Capitec Chief Information Officer Andrew Baker, customers will receive a warning if a transaction appears unusual, allowing them to pause and review before proceeding.

“These alerts are precautionary and do not mean a beneficiary is confirmed to be fraudulent,” Baker explained, adding that the system is designed to support decision-making rather than block legitimate payments unnecessarily.

In cases where uncertainty remains, the bank may delay transactions to conduct further security checks as part of its broader fraud prevention strategy.

Capitec has been steadily rolling out the system since 2025, focusing on real-time monitoring of payment behaviour to intercept suspicious activity early. The initiative forms part of a wider effort to address increasingly sophisticated fraud tactics.

Capitec Executive Programme Head for Anti-Money Laundering, Blessing Mgaga, revealed that the bank blocked more than 394,000 fraudulent transactions in 2025, preventing losses exceeding R642 million. In addition, over 64,000 mule accounts were identified and shut down.

Mgaga said fraud is evolving beyond system breaches, with criminals increasingly relying on psychological manipulation. Victims are often pressured into acting quickly through fake bank alerts, fake investment opportunities, or impersonation scams delivered via SMS and WhatsApp.

He noted that so-called “push payment fraud” is becoming more common, where individuals are tricked into voluntarily transferring money to criminals.

Capitec has also strengthened protections against malware threats, safeguarding over 500 clients and preventing about R31 million in losses.

The bank emphasised that awareness remains critical, urging customers to pause before making payments, verify offers independently, and be cautious of unsolicited links or unusually attractive investment deals.