Business email compromise is a common and well-known fraud tactic that continues to plague South Africans paying their service providers using bank account details from emailed invoices.
A recent costly ruling against a Johannesburg property buyer has highlighted the danger South Africans should be aware of when making online payments to bank accounts provided via email.a High Court order in favour of the buyer — Judith Hawarden — who had won a case against legal firm Edward Nathan Sonnebergs over a 2019 payment which cost her R5.5 million.
She initially won a case against the law firm in the Gauteng High Court in Johannesburg in 2023, which found that ENS had a legal duty of care to its clients. If the SCA had ruled in Hawarden’s favour, it would have led to creditors being legally obliged to protect their customers’ accounts from getting hacked.
Whatever their method, the fraudsters deleted correspondence with ENS providing its actual bank account details and replaced it with their own. The South African Banking Risk Information Centre provides several indications that your email address might have been compromised, including:Receiving large numbers of undeliverable or bounce messages for emails you did not sendTo further protect yourself from falling for a business email compromise scam, you should verify the bank account details of the company you are paying through multiple official channels.
In such cases, a court might also find the creditor liable for failing to protect its systems appropriately, and the victim could be entitled to compensation.Make sure your PC has the latest operating system updates and antivirus or anti-malware software.
Business Email Compromise (BEC) Fraud Cybercrime Cyberfraud Johannesburg High Court Judith Hawarden Online Fraud South African Banking Risk Centre (SABRIC) Supreme Court Of Appeal (SCA) Security
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.
Electricity price warning for South Africans with solar powerEskom’s proposed new electricity pricing structure will punish solar users in South Africa.
Read more »
South Africa: Long Lines Mean Late Voting for South AfricansReports of South Africans standing in long lines waiting to cast their ballots will likely lead to delays in some districts. However, the law allows voters in line at the voting station's closing time - 9pm - to remain in line to vote.
Read more »
South Africa: Divided South Africans Vote in Tight Elections That Could End ANC DominanceJohannesburg - South Africans go to the polls Wednesday for parliamentary, provincial and local elections. After 30 years in power, Nelson Mandela's African National Congress (ANC) party could be forced into a coalition.
Read more »
South Africa: A Tricky Tax Dilemma for South Africans Living OverseasAnalysis - Leaving South Africa without formally emigrating can lead to tax issues with SARS, even after 10 years.
Read more »
South Africa: Corruption a Big Worry for Young South Africans Voting in Key ElectionsYoung people are vying for change as South Africa heads to elections after three decades of democracy. Confidence in the ruling ANC, which is tipped to lose its majority, is particularly low for the youngest voters casting their ballots for the first time.
Read more »
South Africa: Heavy Rain Warning for KZN South CoastThe KwaZulu-Natal Department of Cooperative Governance and Traditional Affairs (CoGTA) has warned the public in the south coast of the province of level 4 disruptive rains, which could result in disaster.
Read more »