R2.4 billion stolen from South Africans – over R21,800 per person
New data from SABRIC serves as a warning over the rampant surge in digital banking fraud, which has cost South Africans R2.4 billion.
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New data from SABRIC serves as a warning over the rampant surge in digital banking fraud, which has cost South Africans R2.4 billion.
The Association of Certified Fraud Examiners has released a report showing the extent of occupational fraud in Sub-Saharan Africa.
The company first started notifying customers about the incident via SMS and a notice on its website in late July 2026.
KwaZulu-Natal has been identified as the province in South Africa with the most digital fraud, with high profile cases and some syndicates emerging and migrating into neighbouring provinces.
South Africans can apply for smart ID cards at 259 bank branches in July 2026, as the Department of Home Affairs’ partnership with banks continues to expand.
A new report revealed the full extent of the attack on the City of Ekurhuleni where spyware and insiders aided in the theft of over R2 billion.
Discovery Bank recently rolled out a raft of new security features to better protect customers from fraudsters.
South Africans are being warned about a fast-growing and highly dangerous form of digital fraud that is increasingly targeting people through their smartphones.
Health, retirement, crooks and tax issues topped the list.
Many people converge in popular holiday spots during December and January, making them prime targets for phone snatchers. The initial crime may not be the biggest danger, however.