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The South African Banking Risk information Centre says bank fraud related SIM swop scams have increased significantly in recent months.
As a result, a number of bank customers have fallen victim to bank fraud.
Sabric launched its interbank e-crime awareness campaign this week.
It says for criminals to be successful with internet banking fraud they require the victims username and password which are stolen by tricking the victim into disclosing personal information through phishing emails.
Susan Potgieter of Sabric's commercial crime unit is urging the public to be careful about sharing their personal information.
"Say for example if you receive a call asking for your ID number over the phone, best you be sure who you are speaking with. One way of doing it to ask the caller where they are from and more specifically what organisation and their details, and then to use your own information to make contact with that organisation," Potgieter said.
