The banking industry has released its annual crime statistics for 2020, and the figures for digital banking fraud are concerning.
A banking industry body has warned South Africans that possession of dye-stained bank notes looted from ATMs in this week’s political-inspired anarchy could land them in serious trouble.
Credit bureau Experian said on Wednesday it is pursuing both criminal and civil charges against the perpetrator who walked off with the records of millions of South Africans after impersonating one of the company’s clients.
Credit bureau Experian said on Thursday that no consumer credit information or financial information was obtained by a suspected fraudster and that the incident has been “contained”.
The data breach at credit bureau Experian Africa may not be as serious as first feared. The company said late on Wednesday that its investigations show that the compromised data was not used for fraud.
Credit bureau Experian has suffered a huge data breach, exposing the personal information of as many as 24 million South Africans and almost 800 000 businesses to a “suspected fraudster”.
The South African Banking Risk Information Centre warned on Friday that local banks are under sustained distributed denial-of-service attacks, targeting “various public-facing services”.
Combined gross fraud losses on South African-issued bank cards soared by 18% in 2018, compared to the previous year, and totalled an astronomical R873.4-million, industry body Sabric said on Wednesday.
The South African Banking Risk Information Centre on Thursday warned of a surge in Sim-swap fraud in the country.
Three hours, around 100 people, 1 400 Japanese ATMs and 1 600 counterfeit credit cards, was all it took for fraudsters to exploit Standard Bank in Japan. The bank, which stands to lose up to R300m, described the attack as a “sophisticated