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 police members and a civilian were shot and killed. This was followed by an attack on an ATM in the close vicinity.
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 A recent spate of armed robberies took place across the country after stokvel money was withdrawn for distribution.
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.
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.
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.
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.
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.
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.