Data from several authorities shows that cybercrime has become a notable concern for the future, as South Africa ranks 6th in the world regarding cybercrime density.
A report published by cybersecurity company Surfshark has highlighted South Africa ranking 6th in the world regarding cybercrime density – which costs the country an estimated R2.2 billion annually.
Surfshark’s cybercrime report for 2021 showed that South Africa had 52 cybercrime victims per one million internet users, with other countries showing even more alarming numbers. The top-ranking country was the UK, with a whopping 4,783 victims per one million users – followed by the US , Canada , Australia and Greece .shows that total gross losses in digital banking in South Africa have increased by 45%, while debit card fraud accounted for 55.
Naturally, this trend is expected to worsen as the world becomes more digitally inclined, with the World Economic Forum Global Risk Report 2022 noting that Cybersecurity failures have increased by 12.4% since the start of the Covid-19 pandemic. The prevalence of cybercrime is further evident in Surfshark’s report on global data breaches in Q3 of 2022, which shows that global data breaches are continuing to climb, with Q3 giving rise to the most data breaches this year.
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