Press Releases

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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Safe Banking Over the Festive Season

The South African Banking Risk Information Centre (SABRIC), on behalf of the banking industry, has launched a Safe Banking Campaign to empower bank clients with information to ensure that they bank safely over the Festive Season. As the year comes to a close, fraudsters take advantage of the fact that consumers receive bonuses, spend more money and are generally more relaxed because they are in holiday mode. SABRIC wants ensure that bank clients are empowered with information in order to protect themselves.

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Don't Let Criminals Get Their Hands on Your Money

The South African Banking Risk Information Centre (SABRIC) on behalf of the banking industry continues to express concern at the number of bank clients that fall victim to cash robberies daily. For the period January to September 2016, a decrease of 12 % was recorded when compared with the same period in 2015. Notwithstanding this decrease, the cash loss suffered for the 2016 period thus far has increased by 5%.

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Get Rich Quickly

Money schemes that offer unusually high interest rates or returns, should be treated with the greatest of suspicion.  Whilst it is tempting to pursue offers that promise quick and large returns, consumers need to understand the associated risks and that the probability of actually getting rich this way, is very low to none.

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SABRIC Cautions Women to be Alert on Dating Sites and Social Media Platforms

This Women’s month, SABRIC, South African Banking Risk Information Centre, as part of its Schemes and Scams Campaign, alerts women to online dating scams.A recent survey shows that over 49 million people in the United States alone have tried online dating. This can be a great way for singles to meet their perfect match, but is also a way for cybercriminals to seek out their victims.

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Wise Up and Watch Out for Schemes and Scams

Norton by Symantec released their latest report1 on online crimes, which shows an average of 21 hours and $358 lost per consumer globally over the past year. As more business transactions such as paying bills, shopping and trading have moved online, people have unfortunately also become more susceptible to online crimes.

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SABRIC Encourages Bank Consumers to Take Care of Their Cyber Security

With the increase of cybercrime worldwide, the issue of cyber security has moved from the server room to the board room in many local businesses, and the banking sector is no different. It is with this in mind that the industry is currently embarking on a national campaign to encourage bank customers to take great care of their cybersecurity. ‘Skelm’ is an old English word, widely used by South Africans of all cultures to describe sinister rascals. It is also the inspiration behind the campaign, which aims to empower South Africans to protect themselves against banking fraud.

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Department of Home Affairs (DHA) Online Services

The DHA offer SABRIC Banks access to a number of their Online Services as part of their on-going working relationship and spirit of co-operation with SABRIC to jointly combat bank-related fraud.

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You Could be Sharing Too Much Personal Information on Social Media

As Banks advance with new technologies to fight bank related fraud, fraudsters are resorting to more subtle ways of stealing personal information for the purpose of perpetrating identity related fraud. In the past, criminals focused on stealing identity books so that they could replace the photograph and impersonate the victim when applying fraudulently for products or services. They are now collecting diverse personal information, whether it’s an email address or a phone number, and then utilizing this information collectively to take over customer identities. What is worse is that most of this information is freely shared by bank consumers, without being aware that it can be used by criminals to defraud them.

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Card Fraud Decreases, Banking Industry Reports

The South African Banking Risk Information Centre (SABRIC) is pleased that the banking industry has seen an overall decrease in card fraud in 2015. In releasing its annual card fraud statistics, SABRIC has stated that credit card fraud has decreased by 28.6% from R353.3m in 2014 to R252.2m in 2015 with an increase of 8, 3 % for debit card fraud in the same period.

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SABRIC Statement on the Decrease Seen in Certain Bank Related Crimes

The South African Banking Risk Information Centre (SABRIC) commends the South African Police Services (SAPS) for the decrease in bank and Cash In Transit (CIT) related crimes.

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Industry Pleased by Decrease in Associated Robberies

The South African Banking Risk Information Centre (SABRIC) on behalf of banking industry has reported a decrease in associated robberies for 2015.   Commenting on the significant decrease, Kalyani Pillay, SABRIC CEO said, “the decrease is attributed to the collective collaborative efforts of not only the banking industry and law enforcement, but of the bank clients who have decided to heed the call to not carry large sums of cash and use alternate methods of banking.”

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Tighten Social Media Security Settings to Avoid Social Engineering, SABRIC Urges

Tighten social media security settings to avoid social engineering, SABRIC urges The South African Banking Risk Information Centre (SABRIC) has warned bank consumers to be wary of social engineers who trick bank customers into divulging personal information that they normally would not disclose.

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SABRIC Warms Consumers to Beware of Phishing and Malware

Criminals want access to your online facilities to steal your money and will use any number of tactics to access your confidential information. This is a warning that has been issued by the South African Banking Risk Information Centre (SABRIC). Criminals use tactics like phishing and installing malware onto their victims’ computers in order to steal personal information necessary to access their victim’s online banking profile.

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Update your Details at the Bank- For your Safety and the Country's

The banking industry has embarked on a campaign urging bank customers to update their personal details with their individual banks, which need to hold the latest and most accurate information about all their customers in compliance with the Financial Intelligence Centre Act 38 of 2001 (FICA).

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SAPS and SABRIC Recommit to Intensify Fight Against Bank Robberies

The long-standing relationship between the South African Police Service (SAPS) and the South African Banking Risk Information Centre (SABRIC), was reaffirmed when the two parties committed themselves to cooperating in intensifying the fight against bank-related and cash-in-transit crimes.

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SABRIC Concerned by Increase in Card Fraud

The South African Banking Risk Information Centre (SABRIC) on behalf of the banking industry has voiced its concern about the increase in card fraud from January to September 2014. The banking industry’s gross fraud losses due to South African issued credit card fraud increased by 23% from R366m in 2013 to R453.9m in 2014.

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Don't Be a Victim of Criminals This Festive Season

The South African Banking Risk Information Centre (SABRIC) on behalf of the banks is currently on an awareness drive to warn bank customers of numerous bank-related crime scams as we approach the festive season.

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Beware of the Change in Banking Details Scam

The South African Banking Risk Information Centre (SABRIC) on behalf of the banking industry would like to warn banking customers of the Change in Banking Details Scam.

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