SABRIC (The South African Banking Risk Information Centre) applauds the decision taken by the National Assembly Portfolio Committee on Police (Parliament of the Republic of South Africa) to hold a Special Meeting on Cash-In-Transit (CIT) heists, scheduled for 13 June 2018.
SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry has released its Card Fraud Stats for 2017 which reflect an overall decrease in card fraud. Debit card fraud decreased by 8.5% while credit card fraud increased by 1%, from R434.0m in 2016 to R436.7m in 2017.
SABRIC (South African Risk Information Centre) utilises a model of collaboration which sees banks and other key stakeholders such as the National Cybersecurity Hub work closely together to derive robust proactive measures to build cyber-resilience and create awareness for cybercrimes. SABRIC and the Centre for Research in Information and Cyber Security (CRICS) at the Nelson Mandela University have joined forces in this regard. Master’s student, Rahul Maharaj from CRICS, have produced five cybercrime videos about online shopping, mobile banking, computer hygiene, malware and card fraud in collaboration with SABRIC, to empower members of the public with safety tips while transacting using digital channels.
The Banking Association South Africa (BASA) together with its 23 Member Banks and 43 Financial Institutions who collaborate on StarSaver™ will be celebrating Global Money Week from 12 March to 18 March 2018. The Banking Association South Africa, is the custodian of the StarSaver™ programme, which is a generic financial literacy programme to inculcate a culture of saving among young people and encourage volunteerism in the financial sector.
SABRIC, the South African Banking Risk Information Centre, urges consumers to be sceptical of any investment that seems too good to be true, to prevent being deceived by so-called investments that promise quick, high and guaranteed returns.