Digital crime banking fraud has increased tremendously in the past two years with trends like banking apps, online banking, mobile banking, phishing, vishing, smishing, e-mail hacking and business e-mail compromise becoming prominent.
Sabric chief executive Kalyani Pillay said:"Criminals approach victims under the pretext of being helpful, and in many instances even pose as a bank official.
In 2018, 23,466 incidents across banking apps, online banking and mobile banking amounted to R262m in gross losses. It is concerning that incidents across these platforms increased by 75,3%.
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