You’ve probably read about someone who clicked on a pop-up advertisement and later discovered money missing from their bank account. Or perhaps you know someone who was shocked to receive a notification of a purchase made overseas while they were sitting at home. These scams have become so common that virtually anyone could become the next target.
Digital banking and online services have made managing our finances faster and more convenient than ever before. However, the same technology can also be exploited by fraudsters when people do not adequately protect their devices and personal information. What makes these scams successful is not necessarily sophisticated technology, but rather the fraudsters’ ability to manipulate human behaviour.
“The real power behind most scams is psychology,” says Standard Bank’s Head of Fraud Operations, Client Experience and Risk Execution, Marius le Roux. “Fraud succeeds because it preys on human emotions rather than intelligence. People tend to trust messages that appear to come from organisations they know, panic when they receive urgent warnings about their money, and react quickly to threats without verifying whether they are genuine.”
Below are some of the most common manipulation tactics used by scammers:
Authority and Trust: When It Appears to Come from Someone Legitimate
People are more likely to comply with a request when they believe it comes from a trusted or authoritative source. Scammers frequently impersonate banks, government agencies, SARS, law enforcement authorities, service providers, traffic fine administrators, and technical support teams. They understand that perceived authority reduces scepticism and increases the likelihood of compliance.
“Many victims receive fake fraud alerts claiming to come from their bank, messages purporting to be from SARS, texts stating that their vehicle licence has been suspended due to unpaid traffic fines, or emails that appear to originate from legitimate service providers offering deals that seem too good to be true,” says Le Roux.
How to protect yourself: If a message makes you feel threatened, pressured, or rushed, pause before taking any action. Avoid clicking on links, scanning QR codes, or sharing banking details until you have verified the request. Contact the organisation directly using its official website or customer service number to confirm whether the communication is genuine.
Urgency: Act Now or Face Consequences
Urgency is one of the most effective tools in a scammer’s arsenal. Fraudsters create a false sense of panic by claiming that your bank account, email account, social media profile, or streaming service has been compromised. They may threaten legal action over supposed unpaid bills or offer exclusive, time-limited discounts on products you’ve recently searched for online.
Scammers also exploit online shopping habits, claiming that a parcel will be returned unless an immediate payment is made. These messages often look legitimate and offer convenient payment options via links that prompt victims to enter their card number, expiry date, and CVV.
How to protect yourself: If you receive a message claiming there is a problem with one of your accounts, do not click on any embedded links. Instead, open the official app or type the website address directly into your browser and verify the information yourself. Be cautious of deals that seem too good to be true or any communication demanding immediate payment. Always use reputable websites and secure payment platforms.
Scarcity and FOMO: Everyone Else Is Doing It
Scammers often manipulate people through scarcity and the fear of missing out (FOMO). Investment scams, romance scams, and fake online shopping offers frequently use phrases such as “Only a few spots remaining” or “Act now for guaranteed returns.”
Fraudsters also create fake reviews, testimonials, and social media activity to make it appear that others are already benefiting from the opportunity. When people believe others have successfully invested, secured a bargain, or found happiness, they may be more inclined to act without conducting proper checks.
How to protect yourself: If an investment opportunity, online deal, or relationship appears too good to be true, take a step back and conduct independent research before committing any money. Do not rely solely on online reviews or success stories. Verify the legitimacy of the company, seller, or individual through trusted and independent sources before getting involved.
A Final Word
While technology continues to evolve, the tactics used by scammers remain rooted in human psychology. Understanding how fraudsters exploit trust, urgency, and the fear of missing out can help consumers recognise warning signs before it is too late.
“Fraud prevention starts with awareness,” says Le Roux. “By taking a moment to pause, verify, and think critically before responding to unexpected requests, consumers can significantly reduce their risk of becoming victims of fraud.”