InstaPay users warned about new phishing scam targeting bank accounts

Artificial intelligence is giving phishing scams a more convincing face, cybersecurity expert Mostafa Rahim warned, with Egypt’s InstaPay platform and major banking channels among the targets.

Speaking on the television program Sabah El-Balad, Rahim said fraudsters are creating replicas of official bank websites and interfaces. They distribute malicious links through messaging platforms, then direct victims to fake pages designed to collect their banking credentials.

The schemes focus heavily on elderly people and others with limited digital literacy. They become especially active before monthly pension distributions, when attackers send messages promising increased pensions or special government relief in exchange for personal information.

Rahim urged users to keep one-time passwords confidential, saying banks and telecommunications companies will not request them by telephone or text message. He also advised checking suspicious web addresses with tools such as Google Safe Browsing or VirusTotal, avoiding links or downloaded images from unknown numbers, and verifying promotions or account inquiries through official hotlines or verified customer-service channels.