The number one general fraud scam in Namibia during 2025 was the cluster of crimes related to Social Engineering and Impersonation, with Vishing (Voice Phishing) being the most commonly reported tactic.
These scams directly target individuals, particularly pensioners and those new to digital banking, and are designed to trick the victim into releasing sensitive information or authorizing payments themselves.
Top Reported Scams
The most prevalent individual fraud scheme reported by TransUnion in early 2025 was:
Vishing (Voice Phishing): Criminals impersonate bank officials, service providers, or government agents over the phone to create panic and extract sensitive information like PINs, passwords, or One-Time Passwords (OTPs). This was cited as the most common fraud scheme reported by targeted Namibians.
Following Vishing, other leading scams that fall under the Social Engineering umbrella include:
Phishing: Fraudulent emails or websites designed to steal personal or financial data.
Money or Gift Card Scams: Tricks promising prizes or requiring a small payment (often via gift card or mobile money) to release winnings.
Largest Financial Impact
While social engineering is the most common entry point, the Bank of Namibia (BoN) confirmed in late 2025 that the largest financial losses to the banking sector were driven by two related forms of digital crime:
Electronic Funds Transfer (EFT) Fraud: The majority of losses were attributed to fraudulent EFTs, often facilitated by phishing attacks where victims are deceived into divulging usernames and passwords, allowing criminals to initiate large transfers.
Card-Not-Present (CNP) Fraud: This involves unauthorized online transactions using stolen card details, frequently compromised through Vishing (phone calls) or through data harvested on insecure e-commerce platforms.
In short, while you are most likely to be targeted by a phone call (Vishing), the money is most often stolen via fraudulent EFTs after the victim’s credentials have been compromised through social engineering.