Carding 4 Carders
Professional
South Africa has seen a sharp increase in cases of online banking fraud, as well as physical hacking of ATMs. This information, with reference to a study by the South African Banking Risk Information Center (SABRIC), was shared by the publication My Broad Band.
"South Africa has seen a huge increase in financial and banking crimes, including contact and digital crimes, banking app fraud and plastic fraud. This criminal activity casts a shadow on the economy, society and even the government of the country, " the organization said in an official statement.
Among the key indicators for 2022, a 36% increase in the number of crimes related to online banking in one way or another is striking. Scammers used a number of tactics, including social engineering and vishing, to trick victims into disclosing confidential information. Losses from this type of cybercrime were nine percent higher than a year earlier.
In a number of areas, there is a certain decline in indicators. For example, in South Africa, there were a quarter fewer cases of SIM card fraud, and the overall crime rate for bank fraud related to card transactions was 18.4 percent lower. South Africans are also significantly less likely to be robbed at ATMs (by 39 percent).
Nevertheless, local security officials record depressing statistics regarding ATM explosions with subsequent cash withdrawal. There were 23 percent more such incidents in 2022. Coupled with a decrease in activity for a number of types of online fraud, this suggests that it is sometimes easier for criminals in South Africa to physically damage an ATM than to process cardholders.
"South Africa has seen a huge increase in financial and banking crimes, including contact and digital crimes, banking app fraud and plastic fraud. This criminal activity casts a shadow on the economy, society and even the government of the country, " the organization said in an official statement.
Among the key indicators for 2022, a 36% increase in the number of crimes related to online banking in one way or another is striking. Scammers used a number of tactics, including social engineering and vishing, to trick victims into disclosing confidential information. Losses from this type of cybercrime were nine percent higher than a year earlier.
In a number of areas, there is a certain decline in indicators. For example, in South Africa, there were a quarter fewer cases of SIM card fraud, and the overall crime rate for bank fraud related to card transactions was 18.4 percent lower. South Africans are also significantly less likely to be robbed at ATMs (by 39 percent).
Nevertheless, local security officials record depressing statistics regarding ATM explosions with subsequent cash withdrawal. There were 23 percent more such incidents in 2022. Coupled with a decrease in activity for a number of types of online fraud, this suggests that it is sometimes easier for criminals in South Africa to physically damage an ATM than to process cardholders.
