Credit card fraud, phishing scams on the rise, warns Sabric

Sabric released its annual crime statistics for the 2017-2018 financial year in Sandton on Wednesday.

Picture: Supplied

JOHANNESBURG - The South African Banking Risk Information Centre (Sabric) said on Wednesday credit card fraud in the past financial year had totalled more than R850 million.

Sabric released its annual crime statistics for the 2017-2018 financial year in Sandton on Wednesday.

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The figures covered violent crime around the banking industry, cash-in-transit heists, as well as online and digital fraud.

There’s been an 18% increases in card fraud in South Africa, according to the latest stats.

Sabric said phishing incidents - where criminals pretended to call from banks or other service providers with intent to defraud customers of their money - were also on the rise.

Sabric’s Kalyani Pillay warned the public to be aware of these scams and urged them to avoid sharing private information.

Meanwhile, cash-in-transit robberies decreased by 22%, from 376 to 292 incidents between 2017 and 2018.