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Criminals impersonate senior managers and send email requests to junior staff in the accounting or finance function requesting that an urgent payment be made to a specific beneficiary.
A wave of fraudulent tax refund letters has been launched at unsuspecting taxpayers globally, according to a Kaspersky report.
For months Geoffrey and Kaycee Lang from Pennsylvania in the US pretended to be pregnant, even going as far as posting regular updates on Kaycee’s expanding baby bump.
The SA Banking Risk Information Centre has found that reported incidents of digital banking fraud grew by 75% between 2017 and 2018, as criminals increasingly used social engineering tactics to steal money.
South African families are each paying up to R80,000 – and in one reported instance R100,000 – for services that promise to get them into the likes of Toronto, Montreal, and Vancouver. And they are unlikely to recover their money, thanks to the consequences of admitting having been victim to an immigration scam.
In 1994 there was about 1 new malware detected per hour; by 2008 it was about one per minute and by 2011 about one per second.
South African Banking Risk Information Centre CEO Kalyani Pillay says she has led an agile and growing organisation that assists banks through a unique model to improve security.
SARS has warned the the public to be beware of a new scam, where criminals purporting to be from the revenue service offer send their victims bogus job offers - with a few fees attached.
Pietermaritzburg police are appealing for information on a Cato Ridge woman and two of her accomplices who are allegedly involved in property scams involving millions of rands.
The New Development Bank wants the general public to be aware that fraudulent e-mails with money transfer requests are using the name of the bank.
Technological advances have made it easier for scammers to prey on unsuspecting buyers, sellers, landlords, tenants and agents, says an expert at Seeff.
Australian regulators are cracking down on "contracts for difference" (CFDs), a risky derivative product that often leveraged 200 to 500 times.
Real estate agents and property sellers can fall victim to "'fake buyers", according to Gerhard van der Linde, Seeff's managing director in Pretoria East.
Next year will likely become known for advanced phishing attacks on smart phones, according to a cyber security expert.
Mobile wallets are extremely attractive to cyber criminals, according to Fabio Assolini, senior security researcher at global cyber security firm Kaspersky Lab.
Global security company Kaspersky Lab says malware attacks in South Africa increased by 22% in the first quarter of 2019 compared to the first quarter of 2018, and SA's Android phones are the second-most targeted in the world for banking malware.
Eskom wants to warn the public of a false recruitment advertisement being distributed at various locations in the Free State and the Vaal Triangle area.
A ring of online fraudsters was busted after stealing millions from unwitting people around the world, including South Africa. Joanna Gottschalk went to the Philippines to find out how they did it.
Evaldas Rimasauskas, 50, pleaded guilty to one count of wire fraud charge in Manhattan last week and faces up to 30 years in prison.
The banking industry has warned customers to always be vigilant of banking scams, especially when prompted for personal information.
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