Africa-Press – Eswatini. Chief Risk Officer Gugu Matiwane says FNB Eswatini has significantly intensified its response to the growing FACATA (account takeover) scam, rolling out stronger customer awareness programmes, staff training and advanced digital systems to stay ahead of increasingly sophisticated fraudsters.
Speaking during the Press Play digital awareness initiative held at House on Fire this afternoon, Matiwane acknowledged the seriousness of cybercrime trends but stressed that the bank has taken decisive action to protect customers and partners as Eswatini’s digital economy continues to grow.
WHAT THE DATA IS SHOWING
Matiwane revealed that FNB’s daily data analysis shows a sharp rise in account takeovers and online marketplace scams, particularly those involving fake iPhone sales promoted on social media. Customers are often lured by affordable and seemingly legitimate offers, only to lose money when the promised goods are never delivered.
On account takeovers, criminals impersonate bank officials or even the police, pressuring customers into sharing confidential banking details under the pretext that their funds are at immediate risk.
“These scams are designed to create panic,” Matiwane said.
NO BOUNDARIES FOR FRAUDSTERS
Matiwane noted that even bank employees are targeted by scammers, demonstrating how wide fraudsters cast their nets. However, she said FNB Eswatini has avoided staff financial losses due to continuous internal awareness training conducted in collaboration with law enforcement.
RESPONDING TO THE CALL FOR ACTION
FNB Eswatini strengthened its outreach following public calls for banks to take a more visible role in fighting cybercrime. Using data insights, the bank rolled out targeted awareness campaigns, including visits to vulnerable sectors such as the textile industry.
TECHNOLOGY MEETS HUMAN AWARENESS
The bank has also introduced behavioural monitoring models that track unusual customer activity, allowing early intervention before fraud is completed. Matiwane stressed that protecting personal banking information remains the most critical defence.
COLLABORATION AND OPTIMISM
Matiwane expressed confidence that continued collaboration between banks, police and the Bankers Association will yield progress. The Press Play initiative, she said, reinforces the importance of repetition and shared responsibility in digital safety.
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