Tag: Card Not Present (CNP)

What are your rights when an online transaction goes wrong? The worldwide pandemic, and associated lockdown, have brought about many changes in consumer behaviour. One of which is the surge in online shopping. As South African consumers adapt to the new normal, where traditional ways of shopping are largely discouraged in favour of online shopping (in an effort to promote social distancing), the number of card-not-present transactions (card transactions that occur while the buyer and seller are not in the same place) has increased exponentially.

SABRIC, on behalf of the banking industry has released its annual crime stats for 2018. We are concerned about some of the increases, which clearly reflect that criminals will take every opportunity to get their hands on bank customers’ money.

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.