Press Releases

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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SABRIC Welcomes Release of Annual Crime Statistics

The South African Banking Risk Information Centre (SABRIC) on behalf of the banking and cash in transit (CIT) industries welcomes the release of the annual crime statistics by the Honourable Police Minister, Mr Nathi Nhleko this morning.

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SABRIC Commends SAPS for Speedy Arrest of Criminals

SABRIC Welcomes Arrests in De La Salle Robbery The South African Banking Risk Information Centre (SABRIC) on behalf of the banking industry would like to commend the detectives of South African Police Service for the speedily arrest of the criminals following the shooting and subsequent death of Mr Dereck Woods who was shot outside the De La Salle Holy Cross College school after allegedly withdrawing a large amount of cash at a banking institution.

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Online Shopping Just Got Safer

3D Secure Online Shopping will be launched across all e-commerce platforms in South Africa. Online shopping just got safer 10 March 2014 – The end of February 2014 marked another milestone for enhanced security of ecommerce payments in South Africa says Walter Volker, the CEO of The Payments Association of South Africa (PASA). ”Over the last year, PASA has been working closely with South African banks and e-commerce merchants to assist them in implementing 3D Secure to help protect cardholders against unauthorized use of their cards when shopping online.” The deadline for 3D Secure implementation was set for 28 February 2014.

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Be Vigilant to Avoid Card Skimming this Valentine's Day

Be Wary of Card Skimming, Warns Banking Industry Valentine’s Day is around the corner and many bank customers will celebrate this day by buying their loved ones gifts and or dining them. To ensure that the day continues and ends on a high note, the South African Banking Information Centre (SABRIC) would like to warn customers to continue being vigilant in order to avoid card skimming when using their cards at ATMs or to make payments in restaurants and retail stores.

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Banking Industry Launches Protection of Personal Information Campaign

The South African Banking Risk Information Centre (SABRIC) on behalf of the banking industry has emphasized the importance of bank customers protecting their personal information. The theft of bank customers’ personal information is of concern and remains a challenge to the banking industry. “When bank customers’ personal details are compromised, such details may be used to perpetrate crime with far-reaching consequences, said SABRIC CEO, Kalyani Pillay.

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