Security2 hOctober 7, 2026, 15:51

SABRIC: Social engineering drives R2.4bn loss in SA digital banking

South Africa lost R2.4 billion to digital banking crime in 2025, up 29.2% year on year across more than 110,000 incidents, according to SABRIC. Social engineering, including WhatsApp account takeovers and fake emergency payment requests, was the main driver.

ITWeb

Open source

SABRIC: Social engineering drives R2.4bn loss in SA digital banking

SA digital banking losses hit R2.4 billion in 2025
Losses rose 29.2% across over 110,000 incidents
WhatsApp takeover scams rely on the six-digit registration code
Experts urge verifying money requests via a trusted channel

#WhatsApp#SABRIC

'Zuckoff' App Detects Meta Smartglasses, as Meta Plans Camera-Free Version, Loses Money, and Offers Social Media Subscriptions

Business

Meta’s new One subscriptions put a price on social media and AI

Security

SA advertisers lose up to R12bn a year to ad fraud

Policy

SABRIC: Social engineering drives R2.4bn loss in SA digital banking

'Zuckoff' App Detects Meta Smartglasses, as Meta Plans Camera-Free Version, Loses Money, and Offers Social Media Subscriptions

Meta’s new One subscriptions put a price on social media and AI

SA advertisers lose up to R12bn a year to ad fraud

Luno says crypto draft may clash with SA's IMF commitments