Capitec AI systems block R699 million in potential fraud losses

Capitec has deployed advanced artificial intelligence and intelligent payment screening systems to combat sophisticated fraud. Between July 2025 and June 2026, these systems protected 113,410 clients from potential losses exceeding R699 million.

In addition to real-time beneficiary scoring for EFT payments, the bank has blocked over 131,000 suspicious beneficiary accounts, including 64,000 mule accounts, and issued warnings regarding more than 394,000 scam payments.

Key security innovations include ‘The Secret Safe’, a feature that allows clients to hide accounts from the mobile app, requiring a physical branch visit to unlock. This feature has been adopted by 75,000 accounts since its launch. The bank also utilizes a malware detection tool within its app to proactively scan client devices.