Cybercrime news South Africa
South Africa Sees 42% Increase in Financial Malware in First Half of 2021
Sourced from Tech Advisor A combination of increasingly sophisticated propagation technologies and continued economic uncertainties resulting from the COVID-19 pandemic have seen the number of financial malware attacks reported in South Africa during the first half of 2021 increase by more than 10,400 over the comparative period last year, according to Kaspersky research. “Of these attacks, 24% targeted corporate users. This makes financial malware attacks a significant cybersecurity risk facing the local market today across both the consumer and business sectors,” says Bethwel Opil, Enterprise Sales Manager at Kaspersky in Africa. Remote Work Leads to Security Lapses Local organisations have become susceptible to financial malware as more employees work outside the relative safety of the ...
Digital Transactions Fraud Rise 187% in South Africa
As more consumers go online for banking and other financial transactions, new research from TransUnion, an American consumer credit reporting agency, has found that fraudsters are ramping up their efforts in the financial services industry. When comparing the last four months of 2020 (September 1 – December 31) and the first four months of 2021 (January 1 – May 1), the company found the percentage of suspected digital fraud attempts coming from South Africa in financial services increased by 187%. Globally, the rate of financial services fraud attempts increased by 149%. Across industries, the rate of suspected digital fraud attempts globally rose 24% when comparing the first four months of 2021 with the last four months of 2020. In South Africa, the overall percentage of fraud attempts in...
