Press Releases

SABRIC Festive Season Awareness

SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry would like to share the tactics that criminals are using to defraud people this Festive Season, to ensure that they are aware of how to protect their hard-earned cash.

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South African Banks resilient in the face of latest DDoS attacks

SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry can confirm that as of Wednesday, the 23rd of October 2019, the banking industry has been hit by a wave of ransom driven Distributed Denial of Service attacks, targeting various public facing services across multiple banks.

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BEWARE: Business Email Compromise Fraud

SABRIC would like to inform bank customers about a scam known as ‘Business Email Compromise’ (BEC) where criminals literally ‘steal money by asking for it’.

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SABRIC Annual Crime Stats 2018

SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry has released its annual crime stats for 2018.

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Protect Your Money This Festive Season

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry, would like to make the public aware of how they can protect their money this festive season. We share the following modus operandi to enable greater awareness:

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Kaspersky Lab Helps Build Skilled Capacity with SABRIC

Kaspersky Lab has concluded a memorandum of understanding (MOU) signed with the South African Banking Risk Information Centre (SABRIC) in October 2017 and plans to renew the MOU for a further year, following its success. The MOU has seen Kaspersky Lab successfully support SABRIC members to enhance much needed skilled capacity within the banking sector through specialised training, for the purpose of combatting cybercrime and to contribute in creating cybersecurity resilience in South Africa.

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Digital Banking Crime Statistics

The South African Banking Risk Information Centre (SABRIC) is pleased to be releasing its inaugural digital banking crime statistics. We are all too aware that the advent of digital technology has seen the exploitation of digital platforms by criminals. In 2017, 13 438 incidents across banking apps, online banking and mobile banking cost the industry more than R250 000 000 in gross losses.

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Contactless Cards

SABRIC (The South African Banking Risk Information Centre) would like to allay any fears that bank clients may have about contactless bank cards or “tap & go”, in the wake of a video that has been doing the rounds on social media.

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Beware When Carrying Cash

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry warns bank clients to always remain alert when carrying cash. Incidents from 2016 to 2017 increased by 4%. However, from January to June 2018, there was a 33% decrease when compared to the same period in 2017, with 478 and 709 incidents respectively. Bank client cash losses for 2018 from January to June amounted to just over R21 million, which was a decrease of 5% from the same period in 2017.

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Be on the Lookout for Phishing, Vishing and Smishing Scams

SABRIC (The South African Banking Risk Information Centre) would like to remind bank clients to always be on the lookout for Phishing, Vishing and SMishing scams

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SABRIC Lauds Special Meeting on Cash-in-Transit Heist

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.

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Release of Card Fraud Stats 2017

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.

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SABRIC & Nelson Mandela Join Forces in the Fight Against Cybercrime

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.

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OR Tambo Heist

SABRIC (The South African Banking Risk Information Centre) has expressed outrage at last night’s Cash in Transit heist at OR Tambo International airport. “The brazenness of the criminals involved, as well as the ease with which access was gained to such a secure area is of huge concern to us”, says Kalyani Pillay, CEO of SABRIC.

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Money Matters Matter

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.

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Ponzi & Pyramid Schemes

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.

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NGCOBO Station Attack

SABRIC (The South African Banking Risk Information Centre) has expressed its outrage at the attack on the police station at Ngcobo in the Eastern Cape in the early hours of this morning, where a number of police members and a civilian were shot and killed. This was followed by an attack on an ATM in the close vicinity.

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Be Careful! Criminals are Targeting Your Stokvel Payout This Festive Season

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry would like to warn members of stokvel social clubs to be extra cautious. A recent spate of armed robberies took place across the country after stokvel money was withdrawn for distribution.

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Keep Your Money Safe This Festive Season

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry, is cautioning the public about bank crimes that could be prevalent this Festive Season.

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Release of Card Fraud Stats 2016

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry has released its Card Fraud Stats for 2016, which reflects an overall increase in card fraud for 2016. Credit card fraud increased by 13% from R331.4m in 2015 to R374.4m in 2016, with debit card fraud increasing by 3.1% for the same period.

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Crime Stats Release

SABRIC acknowledges the release of the past years crime statistics by Police Minister Fikile Mbalula, and remains very concerned about the high number of violent CIT robberies that have taken place this year.

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ID Number & Personal Information Data Breach

SABRIC encourages consumers to protect their personal information by sharing it very selectively and on a need to know basis only. Personal information includes identity documents, driver’s licenses, passports, addresses and contact details amongst others. In addition, confidential information, which includes usernames, password and PIN numbers should never be shared with anybody.

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Cyber Intelligence Research Group

The South African banking industry is aware that the findings of research conducted by the Cyber Intelligence Research Group and specifically the Cyber Exposure Index, which was released yesterday, may cause unnecessary fear, uncertainty and doubt. Whilst research is an important component for the development of cybersecurity products and services, an organisation’s cyber risk exposure cannot be determined purely on external factors but must also take internal factors into consideration.

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Don't Fall Victim to Cash Robberies

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry remains concerned with the number of bank clients that fall victim to cash robberies daily. These incidents increased by 4% from 2015 to 2016, with 695 incidents reported so far in 2017. Bank client cash losses for 2017 from January to June, amounted to R21 million.

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ATM Card Swopping

Due to the high incidence of ATM Card Fraud, the South African Banking Risk Information Centre (SABRIC) would like to alert bank customers to an existing modus operandi, which has become prevalent again, to ensure that they are empowered to protect themselves and to prevent them from falling victim to criminals.

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