Written By : Eino Emvula, MD Africa (ex SA), Ninety One
AI is making scams faster and more convincing. The good news: a few simple habits still stop most of them.
Cybercrime is not new. What is new is how fast it is moving.
Criminals don’t have risk committees or approval processes. When a new AI tool appears, they use it the same day. The result is scams that look, sound and feel real: emails with perfect grammar, cloned voices, even fake video calls.
In early 2024, a finance employee at the global firm Arup joined a video call with his CFO and several colleagues. He made fifteen transfers worth about US$25 million. Every person on that call was a deepfake.This is not just a big-company problem. Closer to home, the Bank of Namibia reported that banks lost more than N$65 million to fraud in the first ten months of 2025. The central bank says the
fastest-growing threat is social engineering, where criminals manipulate people into handing over their own details. Fake investment schemes that borrow the names of government offices are also in circulation.
What AI changes, and what it doesn’t
AI makes the message more convincing. It does not change what the criminal wants: your money, your passwords, or your trust.
That is why people remain the best defence. Research from Verizon found a human element in 62% of breaches this year. People are where attacks succeed, and where they are stopped.
When criminals tried the same deepfake playbook on advertising giant WPP, staff noticed something was off, questioned the request, and the attack failed.
You can do the same. Pause, Verify, then Report if suspicious.
As sponsor of NASIA’s cyber security campaign during cyber security awareness month in Namibia, Ninety One wants every investor to feel confident online.
Here are the habits that matter most.
Eight tips to stay safe
1. Pause before you click. Scammers rely on urgency. Treat unexpected emails, SMSs and WhatsApp messages with suspicion, even when they look like they come from your bank. Hover over links before you tap them.
2. Verify through a channel you choose. If someone calls, messages or video-calls asking for money or information, hang up and call back on a number you already trust.
AI can copy a voice. It can’t answer a number you dialled yourself.
3. Never share passwords, PINs or one-time passwords. No legitimate bank or financial institution will ask for them. We will never ask for yours.
4. Don’t trust banking details sent by email. Confirm any change in banking details by phone with the institution before you pay.
5. Use strong, unique passwords and switch on two-factor authentication. Aim for 15 characters or more, and use a password manager. Never reuse a password across accounts. Approve a login request only if you started it.
6. Keep your devices updated. Install software updates, use antivirus, download apps only from official stores, and back up your data.
7. Be careful what you share. Travel plans and financial milestones help criminals build a convincing story. Check your privacy settings regularly.
8. Be wary of “too good to be true” investments. Guaranteed returns, pressure to act quickly and unsolicited offers are red flags. Check that the provider is registered with NAMFISA before you invest.
If you think you have been targeted, contact your financial institution or the Namibian Police immediately. Reporting early limits the damage and helps protect others.
A part of this cybersecurity initiative is brought to you by NaSIA and its Members.