{"id":78242,"date":"2013-05-26T02:05:09","date_gmt":"2013-05-26T00:05:09","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=78242"},"modified":"2013-05-26T02:06:00","modified_gmt":"2013-05-26T00:06:00","slug":"internet-bank-fraud-affects-few-absa","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/security\/78242-internet-bank-fraud-affects-few-absa.html","title":{"rendered":"Internet bank fraud affects few: Absa"},"content":{"rendered":"

A \u201cminute\u201d number of customers are affected by Internet banking fraud compared to the overall number of online banking users, head of digital channels and payments at Absa<\/a>, Adrian Vermooten<\/a>, recently told MyBroadband.<\/p>\n

This is despite a 900% increase in cases recently reported by the South African Banking Risk Information Centre (SABRIC<\/a>). According to SABRIC, there were under 100 incidents in 2011, but it jumped to more than 1,000 in 2012.<\/p>\n

In his comments to MyBroadband, Vermooten suggested that this fraud was perpetrated almost entirely by fraudulent SIM swaps.<\/p>\n

This is when criminals take over your cellphone number by doing a SIM swap, letting them receive one-time PIN SMS messages sent by your bank to authenticate transactions.<\/p>\n

Even though he regards the proportion of customers affected by this type of fraud as low, Vermooten said it is an unacceptable number.<\/p>\n

\u201cThere\u2019s a lot positive energy between stakeholders to get this number down even further,\u201d Vermooten said.<\/p>\n

The challenge, he explained, is to do this without making the experience even more onerous for the customer.<\/p>\n

\u201cWe\u2019ve got to get rid of fraud, but maintain usability,\u201d Vermooten said.<\/p>\n

More Internet banking and SIM swap fraud articles<\/h3>\n

SIM swap Internet banking fraud up 900% in a year<\/strong><\/a><\/p>\n

SA bank card fraudster jailed<\/strong><\/a><\/p>\n

SIM swap fraud suspect caught: MTN<\/strong><\/a><\/p>\n

Internet banking fraud: watch out for these scammer tricks<\/strong><\/a><\/p>\n

Shocking reality about SIM swap fraud and money lost<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Although small, the number of defrauded customers is still unacceptable, according to Absa\u2019s head of digital channels and payments<\/p>\n","protected":false},"author":15,"featured_media":76540,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[10106,27],"tags":[2186,7265,165,35,19260,19546],"class_list":["post-78242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-security","tag-absa","tag-adrian-vermooten","tag-fraud","tag-headline","tag-sim-swap-fraud","tag-south-african-banking-risk-information-centre-sabric"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/78242"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=78242"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/78242\/revisions"}],"predecessor-version":[{"id":78308,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/78242\/revisions\/78308"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/76540"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=78242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=78242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=78242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}