AI-Powered Scams: How to Stay Safe in the Digital Age

MEDIA RELEASE                              

Issued: 31 July 2025

Artificial Intelligence (AI) is transforming the financial industry, making banking more efficient and accessible. However, fraudsters are also leveraging AI to create sophisticated scams that target individuals and businesses. At Letshego Holdings, we are committed to ensuring your financial security and helping you stay informed about emerging threats. Understanding AI-driven fraud and taking proactive measures can help protect your finances and personal information.

How AI Fraud Affects You

Fraudsters are using AI to impersonate trusted institutions, including banks, to deceive customers into sharing sensitive information. One of the most concerning scams is AI-powered phishing, where scammers send highly convincing emails or SMS messages pretending to be a bank representative. These messages often contain fake links that lead to fraudulent websites designed to steal your login credentials or banking details.

Another growing threat is deepfake technology, where fraudsters create realistic fake voice recordings or videos impersonating bank representatives. They may call clients, claiming to offer loan approvals or requesting verification details, tricking them into providing confidential information. AI is also being used in automated social engineering, where scammers deploy AI chatbots or voice assistants pretending to be customer service agents. These bots can sound highly convincing, making it difficult to distinguish them from real bank representatives.

How to Stay Safe

• Letshego will never ask for your PIN, password, or OTP via email, SMS, or phone.

• Always verify before you trust. Contact us directly through official channels if you receive suspicious communication.

• Avoid clicking on unfamiliar links or downloading attachments from unknown sources.

• Enable two-factor authentication (2FA) for added security.

• If you notice unauthorised transactions, request a temporary block on your account and update your passwords.

Monitor your account regularly and report any suspicious activity immediately by contacting our call centre at 061 202 3500.

For media inquiries, please contact:

Mrs. Ongame Mutorwa

Communications Manager

Tel: (+264) 81 255 3658

E-mail: OngameM@Letshego.com