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Tuesday, October 16, 2018

Phishing, Vishing and SMishing

The South African Banking Risk Information Centre (SABRIC ) would like to remind bank clients to always be on the lookout for Phishing, Vishing and SMishing scams. Phishing, Vishing and SMishing are all methods of deceitfully obtaining personal information such as passwords, ID numbers and bank card details by tricking clients into believing that they are from trusted sources, such as banks or legitimate companies.

Road Accident Fund liability in single vehicle accident

Dependants can’t sue Road Accident Fund where breadwinner dies in single vehicle accident. The surviving wife and children of a breadwinner sued the Road Accident Fund for damages when he died as a result of a single vehicle accident in which the deceased’s negligence was the sole cause of the collision.

2017 Card fraud stats released

SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry has released its Card Fraud Stats for 2017 which reflect an overall decrease in card fraud. Debit card fraud decreased by 8.5% while credit card fraud increased by 1%, from R434.0m in 2016 to R436.7m in 2017.

eNotes to disrupt banking!

Is digital money set to disrupt the banking industry? Natoshi Nakamoto – the creator of bitcoin – had a vision for the new age of commerce and that vision is being realised at a rapid pace as with all financial services, people all around the world desire financial platforms that are convenient, safe, reliable and trustworthy.

Beware Ponzi & Pyramid Schemes

SABRIC, the South African Banking Risk Information Centre, urges consumers to be sceptical of any investment that seems too good to be true, to prevent being deceived by so-called investments that promise quick, high and guaranteed returns.

Is cybercrime costing banks more than money?

Banking has changed vastly over the past few years, as new technologies emerge to change the way we transact. Non-traditional methods of transacting, such as the blockchain and mobile banking, have emerged, causing an influx of data from multiple sources.

Zimbabwe – the case for a cashless case-study?

Running a country with hard cash is expensive. Instead of devising new plans to make cash available, governments should drive the cashless shift by promoting and enforcing electronic payments, which will motivate citizens to open bank accounts.

Banks must embrace digital disruption

Kele Boakgomo | Managing Director:  Financial Services Practice | Accenture South Africa | kele.boakgomo@accenture.com  | www.accenture.com |The banking industry continues to experience disruption -...

Rising risk tide for directors!

Lee Astfalck | Director | Norton Rose Fulbright | lee.astfalck@nortonrosefulbright.com | www.nortonrosefulbright.com |State capture, growing public discontent fuelled by social media at the activities...

Bank powers to hold funds on suspicion of a tax offence...

Section 190(5A) of the Tax Administration Act, 2011 requires a bank to immediately report to SARS if it has a reasonable suspicion that the...
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