Banks are alerting clients to be aware of social engineering scam tactics.
The latest South African Banking Risk Information Centre Annual Crime Statistics (Sabric) report shows a drastic increase in the number of fraudulent Vehicles Asset Finance (VAF) applications as well a slight - but felt - increase in home loan fraud.
New data from the South African Banking Risk Information Centre (Sabric) shows a decrease in the number of reported incidents of non-contact banking fraud.
The Special Investigating Unit has entered into collaboration with the Council for Scientific and Industrial Research to take on cyber crime in the country by upskilling people in the fields of IT and data science.
The government has identified a big gap in cybersecurity skills and is currently working with other entities within departments to try and plug it.
The South African Banking Risk Information Centre offers key insight into banking crimes in South Africa as well as a new scam on the rise.
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