Business owners and individuals are being targeted by syndicates who use threats of violence to drain their victims’ bank accounts.
This is the latest crime trend in South Africa, which sees criminals holding people to ransom for their banking apps.
A spokesperson from Standard Bank says there are various syndicates operating, and they have specific targets, with business owners being heavily impacted, although some attacks appear more opportunistic. In almost all cases, password protection, biometrics, and other security measures have proven ineffective.
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