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A new type of mafia is targeting your bank account in South Africa

The article from BusinessTech discusses a new form of financial crime in South Africa where criminals are using sophisticated methods to target bank accounts. This "new type of mafia" employs tactics like social engineering, where they impersonate bank officials or trusted entities to deceive individuals into revealing personal banking information or transferring money. These criminals often use technology to intercept communications or create fake websites and emails that appear legitimate. The article highlights the increasing sophistication of these scams, which now include voice phishing (vishing) and SMS phishing (smishing), where victims receive calls or texts that prompt them to act quickly, often under the guise of urgent security measures or account issues. The South African Banking Risk Information Centre (SABRIC) has noted an uptick in these activities, urging the public to be vigilant, verify the identity of anyone requesting personal information, and use secure methods for banking transactions. The piece also advises on protective measures like two-factor authentication and not sharing personal details over unsecured channels.

Read the Full businesstech.co.za Article at:
[ https://businesstech.co.za/news/finance/803137/a-new-type-of-mafia-is-targeting-your-bank-account-in-south-africa/ ]