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”.
Browsing: Sabric
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
A R300m card fraud hit on Standard Bank in Japan is an incident of transnational organised crime that was well planned and executed, says a local banking risk body. The South African Banking Risk Information Centre
Local bank customers must pay closer attention to their mobile security, the South African Bank Information Centre (Sabric) said on Thursday. Sabric, which is a non-profit company, was formed
The Payments Association of South Africa (Pasa) is moving ahead with plans to fine merchants that have failed to comply with 3-D Secure, a new layer of verification for online payments. And it’s got some online retailers hot under the collar. While not everyone’s happy
Despite the introduction of Europay, MasterCard and Visa chip cards by South Africa’s banks, fraudsters continue to clone the cards to use them in countries that haven’t implemented the EMV standard for card payments. Until the banks stop
The banking industry’s gross fraud losses due to South African-issued credit card fraud has soared in 2014. In the first nine months of the year, losses have accelerated to R453,9m, from R366m in the same period a year ago. The biggest contributor