International Fraud Awareness Week is a global observance dedicated to raising awareness about the serious threat of fraud and highlighting the various efforts sectors are making to combat this challenge. This year, the event runs from 17 November to 24 November.

"The role technology plays in fraud and scams is becoming particularly challenging in South Africa," says Nazia Karrim, Head of Product Development at the Southern African Fraud Prevention Service (SAFPS). "With South Africa becoming an increasingly connected society, online fraud is a significant challenge that must be addressed."

Be Careful of Business Email Compromise (BEC)

The rise in technology-driven fraud is evident in the statistics. One significant challenge for businesses is the Business Email Compromise (BEC) scam. This cybercrime involves scammers using emails and other tactics to trick victims into transferring funds or revealing sensitive company information. “BEC scams are highly effective impersonation tactics," notes Karrim. "Our SAFPS statistics show a notable increase in this type of fraud in 2023.”

Alarming Cybercrime Statistics

According to the Interpol Africa Cyberthreat Assessment Report, South Africa remains a high-risk target. In 2022, South Africa was the third most attacked country globally, with the most cyberattacks on the continent. The 2024 report shows that cyberattacks increased by 23% year-on-year in 2023, making Africa the region with the highest average number of weekly attacks. BEC scams and ransomware continue to be the most significant risks.

Phishing emails remain the primary vector for BEC scams, affecting almost 80% of African member countries. Perpetrators also use text messages, phone calls, and virtual meetings to enhance their schemes.

Scammers Use Time to Perfect Their Attacks

Technology-based scams are marked by the patience of scammers. "Scammers may infiltrate systems and wait for up to 200 days, silently studying interactions before launching a realistic attack," says Karrim. These scams can impact the entire economic ecosystem, from consumers and companies to their suppliers and even government authorities.

Karrim emphasises the importance of auditing cybersecurity policies during International Fraud Awareness Week. Companies must implement comprehensive cyber policies and educate remote workers about personal cybersecurity, as home networks are often less secure.

Be Cautious During Black Friday

With Black Friday approaching on 29 November, scammers are more active. Manie van Schalkwyk, SAFPS CEO, warns that while consumers seek deals, scams are on the rise. "BankservAfrica’s 3D-Secure service recorded 1.4 million Black Friday transactions in 2023, totalling R1.39 billion, an increase from 2022," says Van Schalkwyk. Scams often involve inflated prices, fake websites, and spoofed payment portals.

Consumers are increasingly using social media marketplaces, which scammers exploit to sell non-existent or used products as new. "Technology plays a significant role in enabling these scams," Van Schalkwyk warns.

Protect Yourself Against Banking Scams

Van Schalkwyk offers tips for avoiding banking scams:

• Verify communication: Contact the person or organisation directly using official contact details.
• Use official websites: Ensure you always use secure portals or apps.
• Avoid responding: If unsure, close the message or hang up the call without sharing any details.

If a suspicious call or message requests verification of personal or transactional information, do not respond. Simply end the call or delete the message.

Scams Prevention Toolbox

To fight fraud, SAFPS has launched Yima, a scams prevention toolbox. "Yima enables South Africans to report scams and check websites for vulnerabilities," explains Karrim. The website provides resources for identifying scams, and the intelligence collected is shared with law enforcement.

Yima’s main feature is reporting suspicious activity, like fake online shopping sites or fraudulent banking information. A scam hotline (083 123 7226) connects victims to their banks, retailers, and the police.

SAFPS also offers free consumer protection services, such as Protective Registration and Fraud Victim Registration. Combined with Yima, these tools represent a proactive approach to fraud prevention. "As custodians of fraud prevention in Southern Africa, we are making a significant impact on reducing the threat," says Van Schalkwyk.

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Press Release Submitted By

Company Name: Southern African Fraud Prevention Service (SAFPS)
Contact Person: Lola Lazarus, Bullion PR & Communication
Cell: 083 271 5336
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
SAFPS Helpline: 011 867 2234
Yima Hotline: 083 123 7226

Total Words: 732

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Technology Is Becoming a Major Battleground in Fraud
Learn how SAFPS is tackling tech-based scams and protecting South Africans this International Fraud Awareness Week.

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