Subscribe & Follow

Advertise your job vacancies

Jobs

Paid Social Media Campaign Manager Johannesburg
Regional Marketing Manager Johannesburg
Senior Brand Strategist Johannesburg
Sales Representative Pretoria
Bobst Die Cutter Johannesburg
Intermediate Full Stack Software Developer Johannesburg
Web Administrator Johannesburg
Social Media Coordinator Cape Town
Commissioning Editor Bryanston
Lecturer – School of Administration & Management Centurion

Card losses top R403-million this year

According to the South African Banking Risk Information Centre (Sabric), credit card fraud is up by 53% in South Africa to a whopping R403-million. Business Live reports that the banking fraud through cards issued by banks had increased by 72%.

14 Dec 2011

According to the Business Live report, Sabric's chief executive Kalyani Pillay says that there has been a sharp increase in counterfeit cards being used at ATMs to withdraw cash and warns that this is linked to card-skimming devices (where information from the magnetic strip on a card is copied) or when banking data has been compromised.

For more: