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.
increase in attacks on ATMs in 2021, and while incidents of digital banking fraud declined, the value extracted by criminals soared, according to a new report from Sabric.
From 2020 to 2021, digital banking fraud incidents decreased by 18% overall, with the biggest decline occurring in mobile banking fraud. However, while the number of incidents declined, there was a 45% increase in the total gross losses in digital banking in the reporting period. ATM attacks increased by 11% in 2021, with a 17% increase in losses. Incidents where explosives were used increased by 15%, whereas the number of incidents involving angle grinders decreased by 11%, from 47 in 2020 to 42 incidents in 2021.
“Although the industry recorded an 8% decrease in associated robbery incidents overall in 2021, branch-before-deposit incidents increased by 56% with financial losses in the same category increasing by 85%.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NPA under fire over delays in Transnet caseThe National Prosecuting Authority has been criticised after an unsigned draft charge sheet was presented to court in the long-awaited high-profile Transnet fraud and corruption case.
Read more »
Zwane cut up Kaizer Chiefs could not give ‘Bra K’ his birthday presentArthur Zwane desperately wanted to give Kaizer Chiefs owner Kaizer Motaung a birthday present by beating Chippa United and securing top place in the DStv Premiership in Durban on Saturday.
Read more »
Hawks nab Mpumalanga estate agent for RDP house fraud | The CitizenThe agent faces RDP house fraud charges worth R100 000 😲
Read more »
LETTER: Thieves love the darkThe great Eskom meltdown presents opportunities for would-be thieves of cable or power
Read more »
PETER ATTARD MONTALTO: Consequences and accountability: the world is watching SAThe big question from investors and corporates is what might emerge from the ANC’s elective conference
Read more »
Review bombing: Forcing films to flop thanks to little-dick energyReview bombing is the online phenomenon in which a group of people contrives to skew a show or movie's ratings - often before they've even seen it.
Read more »