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FESTIVE SEASON: SA sees alarming rise in digital banking fraud

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GUEST - Ntshiki Maluleka -Digital banking crime manager at the South African Banking Risk Information Centre (SABRIC)

Cyber criminals stole over R740 million from unsuspecting users through digital banking fraud in 2022. This is according to the latest banking fraud statistics from the South African Banking Risk Information Centre (Sabric).

Sabric published its Annual Crime Stats 2022, revealing the year saw a surge in reported incidents of digital banking fraud, with an increase of 24% compared to the previous year.

It explains this was primarily attributed to the growing number of fraud cases related to banking applications and internet banking.

13 Dec 2023 3PM English South Africa Business News · Investing

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