Digital banking is safer than ever, but more is at stake according to the annual crime stats for 2021 released by Sabric ~
Digital banking fraud has decreased over the last year – but the magnitude of financial losses has soared.
From 2020 to 2021, digital banking fraud incidents decreased by 18% overall. The biggest decline in fraud incidents occurred in mobile banking fraud. 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 angle grinder incidents decreased by 11%, from 47 in 2020 to 42 incidents in 2021.
For the first time, SABRIC’s annual crime stats publication features application fraud via vehicle and assets, home loans and unsecured fraud .
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.
Standard Bank Internet and business banking offlineStandard Bank reported an issue with its Internet banking and Business Online platforms on Tuesday.
Read more »
Mastercard to offer crypto trading tied to bank accountsMastercard will let consumers buy and sell digital assets through their bank accounts.
Read more »
Mastercard debuts service offering crypto-trading tied to bank accountsMastercard Inc has debuted a service that will let consumers buy and sell digitalassets through their bank accounts, potentially paving the way for thousands of finance firms to offer crypto trading for the first time. Moneyweb
Read more »
Uganda: I Am Not Here to Stay - Museveni Says but Remains Tight-Lipped on SuccessionI Am Not Here to Stay - Museveni Says but Remains Tight-Lipped on Succession nilepostnews: Uganda
Read more »
Standard Bank online banking working again after earlier failureAfrica’s biggest lender by assets said its internet and business online platforms were ‘interrupted’, but declined to say what had caused the problem
Read more »
Big rise in ATM bombings, card-not-present fraud: SabricThere was a sharp increase in attacks on ATMs in 2021, and while incidents of digital banking fraud declined, the value extracted by criminals soared.
Read more »