The South African Banking Risk Information Centre (Sabric) said on Wednesday criminals are using fake bank SMS notifications to dupe consumers.
Sabric has warned that criminals are targeting people who use the classifieds to sell unwanted items.
Bank SMS notifications help account holders by tracking movement in their accounts.
Sabric said criminals, posing as potential buyers, send phoney SMS's indicating they have deposited money into someone's account.
In a new type of cybercrime, criminals pretend to pay electronically and send a fake text message confirming payment.
Criminals count on their target believing the SMS is real.
Sabric's Susan Potgieter said people must always double check.
“Any person receiving such a confirmation should look at their bank statement to make sure that the money was in fact deposited.”
She added that cybercrime, particularly in internet banking, remains high.