Tag: impersonation

In a cryptocurrency market surpassing a staggering US$1 trillion valuation, it is no surprise that it has become a magnet for opportunistic thieves and cunning conmen. However, unlike the stereotypical villains from old Western tales who would brazenly attack stagecoaches in broad daylight, today’s crypto thieves operate with remarkable finesse, sophistication, and an uncanny ability to remain hidden.

Traditional payment fraud has been rife for some time, where the cybercriminal impersonates the CEO, or other senior member of staff, to convince the finance department to make an urgent payment to either a new supplier or update their bank details.

Experian - a consumer, business and credit information services agency – has experienced a breach of data which has exposed some personal information of as many as 24 million South Africans and 793,749 business entities to a suspected fraudster.