Discover the alarming rise of cybercrime in South Africa and learn essential strategies to protect yourself against sophisticated scams and fraud. File picture: IOL.
Cybercrime has become a serious threat to South African consumers and businesses, with scammers leveraging the latest and most innovative methods to stake their claim on their victims’ hard-earned money.
From sim swop and banking fraud schemes to social engineering scams and even deepfake audio and video manipulations, scammers are using increasingly sophisticated methods to target their victims, says cybercrime expert, Dr Craig Pederson.
“These tactics not only impact individual consumers but also put significant strain on companies trying to protect sensitive information.
“In the last seven years, we’ve seen a dramatic increase in both the volume of cybercrimes and the variety of types of cybercrime perpetrated in South Africa. In fact, South Africa is very close to being considered the cybercrime capital of the world,” he says.
Tech-driven scams on the rise
Scammers are taking advantage of digital platforms and weaknesses in personal security to gather sensitive information quickly. “It would probably take me between five and ten minutes to gain access to a significant amount of your personal information, more than you would be comfortable with,” Pederson says.
Margaret*, a teacher who despite educating children on online safety, fell victim to phishing and fake website scams twice. This is a common tactic that involves luring users to seemingly legitimate websites that are, in fact, fraudulent. Victims who fall for these sites often enter personal and banking details, which scammers can then use for identity theft or unauthorised transactions. “I felt like an absolute idiot,” she admits. “I was angry with myself because I know this stuff, and it still happened to me.”
SIM swopping and phone theft is another common scam that involves fraudsters duplicating a person’s SIM card or stealing their phone to gain access to sensitive accounts. Once they have the device, they bypass banking apps' security by accessing One-Time Pins (OTPs) or verification codes, which was likely the technique used in Shashi Naidoo’s case that saw her lose over R500,000 after her phone was recently snatched.
Employees are also increasingly targeted by scammers who use a variety of methods in an attempt to manipulate them into revealing sensitive information, granting unauthorised access, or making payments to fake accounts. For instance, many businesses have reported scammers impersonating legitimate vendors that the company regularly deals with, submitting fake invoices, or altering banking details on actual invoices. This often results in funds being transferred into scam accounts.
While rare, impersonation via Deepfake Technology is also becoming a common and more sophisticated scam tactic that businesses should be especially aware of. This involves scammers using deepfake audio or video technology to mimic, for example, a CEO or other leader’s voice, convincing employees to act on fraudulent instructions.
While frightening, technology – with both its advantages and its risks – is here to stay, and keeping informed and vigilant is crucial to avoid falling prey to scammers and their tactics.
Steps to staying safe
To fight back against cybercriminals, Pederson suggests ensuring that two-factor authentication (2FA) is used for all social media and messaging apps like WhatsApp, which provides an added layer of security that is crucial to prevent unauthorised access.
Strong, unique passwords are essential to digital security. Pederson recommends changing passwords every six months and using a password manager to keep track securely.
When it comes to spotting red flags, this can be tricky, but most scams will have warning signs. For instance, fake websites may crash or have inconsistencies, and paying attention to these details can prevent potential losses and heartaches in the future.
Finally, it’s important to stay informed about emerging scams. Education and awareness are the best defences against cybercrime. "Ultimately, we’ve got to evolve with the risks associated with technology, and knowledge remains your best defence,” says Pederson.
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