Terror groups target banked South Africans
Some terror groups have been targeting South Africans to finance their criminal acts through romance scams.
“The victim is then contacted by either the same or a different member of the terrorist group and told that if they do not agree to pay a ransom, the images will be placed on social media or made available to friends, family or an employer. A bank account number is provided, the victim pays, and the money is withdrawn. Victims of these scams are naturally reluctant to admit that someone they have fallen for has betrayed their confidence.
“These relentless attacks leveraged data, social media and technology, making it even more difficult to spot fraudsters’ efforts to convince customers to give away their PINs, account numbers, OTPs and ID numbers. The effectiveness of these attacks resulted in a 42% increase in all digital banking crimes occurring on banking applications. The year also saw an increase in gross fraud losses for South African-issued credit and debit cards.
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