SA is ranked sixth among countries that experienced the most cybercrime in 2021.
The country has 52 victims per 1-million internet users, according to research by cybersecurity company Surfshark.
The research findings released last year found the UK was top of the list with 4,783 victims per 1-million users.
Other countries in the top 10 are Canada, the Netherlands, France, Germany, Mexico, Australia, Canada and the US.
A TransUnion’s SA Q4 2022 Consumer Pulse Study revealed that money and gift card fraud was the top form of digital fraud schemes (40%) among those targeted in the past three months.
This was followed by third-party seller scams (33%) and phishing (28%).
“The lack of awareness towards fraudulent schemes was a significant concern in the SA market. Of those surveyed, 54% of consumers were unaware of any fraud schemes targeted at them.
“This was an increase of five percentage points from the previous quarter. The highest among generations, 40% of Gen Z respondents said a fraud scheme had targeted them,” the study found.
Founder of Nihka Technology Group Yashmita Bhana said: “Cyber security is an ever-growing concern in SA, with the rise of artificial intelligence (AI) tools adding a new level of complexity to the issue. The use of ever-evolving AI tools like ChatGPT has become increasingly popular among cyber criminals, leading to a surge in cyber crimes across the country.
"According to recent statistics, SA has one of the highest cyber crime rates in the world... With the potential for immense financial and reputational damage, it is crucial for organisations to take proactive measures to mitigate potential risks.”
sibiyan@sowetan.co.za
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