AI-Powered Phishing Scam Targets InstaPay and Egyptian Bank Users

Cybersecurity expert Mostafa Rahim has issued a stern warning regarding a surge in AI-driven phishing scams targeting users of financial applications, specifically Egypt’s digital payment platform InstaPay, as well as major banking channels.

Speaking during a televised interview on Sabah El-Balad, Rahim explained that scammers are utilizing advanced artificial intelligence to create convincing replicas of official bank websites and interfaces. Fraudsters then distribute malicious links through messaging platforms, tricking victims into entering sensitive credentials on fake pages designed to look legitimate.

These fraudulent schemes heavily target elderly citizens and individuals with limited digital literacy, often timing their attacks to coincide with monthly pension distributions. Attackers exploit these periods by sending deceptive messages that promise pension increases or special government relief initiatives in exchange for personal information.

To reduce the risk of falling victim to these attacks, Rahim advised consumers to follow essential digital safety practices:

• Never Share OTPs: One-Time Passwords must remain strictly confidential. Financial institutions and telecom providers will never request OTPs via phone calls or SMS.
• Verify Web Addresses: Always cross-check suspicious URLs using free threat-detection tools like Google Safe Browsing or VirusTotal before clicking.
• Avoid Unsolicited Media: Refrain from opening links or downloading images sent from unrecognized numbers.
• Confirm Directly: Validate any promotional offer or account inquiry through official bank hotlines or verified customer service channels.