The process to develop a digital identity system for South African citizens still has a long way to go.
Browsing: Sabric
The banking industry has seen a spike in clients being “duped” by fraudsters posing as bank or tax officials.
The CEO of Sygnia has excoriated Discovery over a “data breach” that leaked highly sensitive client information.
TechCentral asked Sabric CEO Nischal Mewalall about banking app kidnappings and how people can protect themselves.
Banking app kidnappings, with the aim of gaining unauthorised access to victims’ money under duress, are on the rise.
There has been a worrying 36% increase in reported incidents of banking app fraud, according to Sabric figures.
There was a sharp increase in attacks on ATMs in 2021, and while incidents of digital banking fraud declined, the value extracted by criminals soared, according to Sabric.
Following the cyberattack on credit bureau TransUnion, banking risk centre Sabric has said it is working with banks to protect consumers.
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.