TymeBank customers hit by fraud wave, bank denies data breach

Dozens of TymeBank customers are crying foul after falling victim to a scam syndicate that has left many with empty accounts, and burning questions around how their personal info got into the wrong hands.

Kasi Voice News can reveal that a growing number of TymeBank customers have been drawn into a sophisticated fraud scheme involving impersonation, stolen personal information, and unauthorized account withdrawals — sparking fears of a possible data breach.

In a media query to TymeBank, the digital bank insists its systems remain secure and denies any internal leak.Victims say unknown fraudsters, posing as TymeBank officials, contacted them with alarming accuracy. The callers, who through an app, TrueCaller, appeared as “TymeBank” knew their full names, ID numbers, account details, and even where they opened their bank accounts. Moments later, money vanished from their accounts, often withdrawn through voucher systems linked to random cellphone numbers.

While the affected customers suspect a leak within the bank or its systems, TymeBank has denied any breach, instead pointing to what they call a growing “vishing” scam that is sweeping the country.

“We can confirm that TymeBank has not experienced any data breach or unauthorised access incident,” said Pontsho Ramontsha, the bank’s spokesperson.

“The messages shared with customers are not from us. These are common scams where fraudsters trick people into giving away OTPs.”

She told Kasi Voice News.

One client, who asked not to be named, told Kasi Voice News:

“They knew everything. My address, where I opened my account, even my balance. There’s no way this is random. Something is leaking.”

Screenshots shared with the publication show a pattern, SMSes warning customers of fraudulent activity, followed by a phone call from someone claiming to be from TymeBank’s fraud team. Once OTPs were shared, the funds disappeared.

‘We’re sorry if customers felt unsupported’

In response to customer complaints about poor support, the bank offered an apology.

“The Security Team is working to get these numbers blocked and will report these to SABRIC as well. We also want to acknowledge those customers that may have felt unsupported or frustrated during the process of reporting incidents.

For this, we sincerely apologise, and we are actively working to continuously improve how we communicate and engage with affected individuals to ensure they feel heard, helped, and protected at every step.”

said TymeBank spokesperson.

TymeBank says it uses strict security protocols, including encrypted data, biometric logins, and compliance with data protection laws. The bank also claims it investigates every fraud report and handles compensation on a “case-by-case” basis.

Still, no cases have been reported to the Information Regulator or the Reserve Bank — because, according to TymeBank, no breach has been found.

Ramontsha says.

Speaking on behalf of the bank, Ramontsha admitted, however, that syndicates can access data from a wide range of sources, including past large-scale data breaches in South Africa’s credit bureaus, adding a layer of complexity to attribution.

Customers demand answers

Frustrated clients say they are tired of generic answers and want transparency.

“They’re playing damage control. We’ve lost money and now we are expected to believe it’s all our fault?” said another victim.

Consumer experts warn that banks must do more to educate customers, but also be held accountable if internal systems are compromised.

Safety tips from TymeBank

In light of the scam, TymeBank is urging customers to stay alert:

• Never share your OTP, PIN or login details — even if the caller claims to be from the bank.
• If you receive a suspicious call or SMS, hang up and call TymeBank directly: 0860 999 119.
• Report fraud attempts immediately.

As complaints continue to roll in, Kasi Voice News will be following the story closely. If you’ve been affected or have a tip-off, contact our newsroom.