Author: Andrew Baker

Digital banking crime cost South Africa R2.41 billion in reported client claims in 2025, an increase of 29.2% from 2024, according to the South African Banking Risk Information Centre (SABRIC) Annual Crime Statistics Report. Reported incidents rose by 12.8% to 110,074, with an average loss of R21,865 per incident. Stronger authentication, better detection and blocking suspicious accounts remain essential, but rising losses show why the industry must also address the economics that keep fraud syndicates in business. We have traditionally approached fraud as a security problem, concentrating on making it harder for criminals to reach clients and their money. Fraud…