Cybercrime expert Craig Pedersen has pointed to investment scams and telephone-based social engineering as the most common forms of online fraud. In these scams, cybercriminals use deepfake videos featuring popular SA figures and celebrities to promote fraudulent investment schemes, encouraging people to put their money into dangerous ventures.  

Another alarming trend is the use of phone calls to steal PIN numbers, which are then used to access victims’ bank accounts and siphon off funds.

Pedersen explains that SA's rising vulnerability to cybercrime can be attributed to several factors, including inadequate prosecutions and slow investigations into organised cybercrime networks. The country’s struggles with money laundering legislation have also contributed to the increase in cyber fraud.

To reduce the risk of falling victim to cybercriminals, Pedersen urges South Africans to adopt simple security measures. "Every account should be protected by two-factor authentication as a minimum," he advises. This includes using a mobile phone number to authenticate access to social media platforms and messaging apps. He also advises against blindly clicking on links without first verifying their source, as many scams rely on deceptive websites designed to steal personal information.

For individuals who suspect they have fallen victim to a cyber scam, Pedersen recommends immediately changing passwords for key accounts, particularly email and social media. Victims should also report the incident to their bank and law enforcement authorities to track the crime and potentially recover funds.

--Channel Africa --