Articles about Southern African Fraud Prevention Service

Nedbank fends off R7.5bn in cyber fraud attempts

In 2024, the bank prevented account application cyber fraud attempts worth over R7.5 billion, through its fraud risk management strategy.

Cyber fraud-as-a-service empires on the rise

AI-developed deepfakes are increasingly being used to bypass financial institutions’ know your customer verification procedures.

Valentine's Day spending to soar, but scammers lurk

Cyber security experts emphasise the importance of being cautious as scammers target lovestruck shoppers.

AI, GenAI fuel explosion of romance scams in SA

With Valentine’s Day in full swing, criminals exploit AI and GenAI to entice victims with deepfake live video chatting.

Is voice biometrics in banking secure enough?

As voice cloning becomes a viable threat, financial institutions need to be aware of the possibility of fraud in voice-based interfaces, says Gur Geva, CEO of iiDENTIFii.

Capitec warns of debit order reversal scam

Clients are warned of a scam where fraudsters phone victims to “reverse” an unauthorised debit order via app.

Portal to empower consumers to fight online scams

The Southern African Fraud Prevention Service’s Yima portal will make it easier for consumers to prevent fraud and scams.

AI scams using voice cloning are the new frontier for fraudsters

The rise of voice cloning illustrates the importance of sophisticated and multi-layered biometric authentication processes, says Gur Geva, founder and CEO of iiDENTIFii.

Standard Bank warns of phishing targeting clients

The bank says a phishing e-mail is doing the rounds, asking clients to update their bank card details.

SA records massive jump in impersonation attacks

Impersonation in SA increased by 264% in the first five months of the year compared to 2021, says SAFPS.

SA banks fear uptick in ID theft after TransUnion hack

Sabric co-ordinates with banks to ensure South Africans’ personal information is not abused by the TransUnion hackers.

SA banks caught up in ransomware attack on debt collector

FNB, Absa, Standard Bank and African Bank are some of the banks that make use of Debt-IN’s services and have confirmed the impact of the ransomware attack on their businesses.