Tips for staying safe amidst South Africa's tech-driven cybercrime epidemic

From SIM swapping and banking fraud to social engineering scams and deepfake audio and video manipulations, scammers are employing increasingly sophisticated tactics to target their victims, says cybercrime expert Dr Craig Pederson.

“These tactics not only impact individual consumers but also put significant strain on companies trying to protect sensitive information...In the last seven years, we’ve seen a dramatic increase in both the volume of cybercrimes and the variety of types of cybercrime perpetrated in South Africa. In fact, South Africa is very close to being considered the cybercrime capital of the world.”

- Dr. Craig Pederson, Cybercrime Expert - Momentum Insure 

Tech-driven scams on the rise

Scammers are taking advantage of digital platforms and weaknesses in personal security to collect sensitive information quickly. 

“It would probably take me between five and ten minutes to gain access to a significant amount of your personal information, more than you would be comfortable with,”

- Dr. Craig Pederson, Cybercrime Expert - Momentum Insure

Despite being a teacher educating children about online safety, teacher Margaret* herself fell victim to phishing and fake website scams twice. Phishing is a common tactic that involves luring users to seemingly legitimate websites that are, in fact, fraudulent. 

Victims who fall for this often enter personal and banking details, which scammers can use for identity theft or unauthorised transactions.

“I felt like an absolute idiot,” she admits. “I was angry with myself because I know this stuff, and it still happened to me.”

SIM swapping and phone theft are also common scams where fraudsters either duplicate a person’s SIM card or steal their phone to access sensitive accounts.

Once the predators have the device, they bypass banking app security by accessing One-Time Pins (OTPs) or verification codes. This was likely the technique used in Shashi Naidoo’s case which saw her lose over R500,000 after her phone was recently snatched.

Employees are increasingly being targeted by scammers who use various tactics to manipulate them into disclosing sensitive information, granting unauthorised access, or transferring funds to bogus accounts. Many businesses have reported scammers impersonating legitimate vendors that the company regularly deals with, submitting fake invoices or altering banking details on actual invoices. This often results in funds being transferred into scam accounts. 

Although still rare, impersonation using deepfake technology is rapidly emerging as a more sophisticated scam tactic that businesses must become aware of. This involves scammers using deepfake audio or video technology to mimic a CEO or other leader’s voice, for example, convincing employees to act on fraudulent instructions. 

While frightening, technology – with its advantages and risks – is here to stay, and keeping informed and vigilant is crucial to avoid falling prey to scammers and their tactics. 

Steps to staying safe

• To fight back against cybercriminals, Pederson suggests two-factor authentication (2FA) be implemented for all social media and messaging apps like WhatsApp, providing an added layer of security crucial to preventing unauthorised access.
  
  
• Strong, unique passwords are essential to digital security. Pederson recommends changing passwords every six months and using a password manager to keep track securely.
  
  
• When it comes to spotting red flags, this can be tricky, but most scams will have warning signs. For instance, fake websites may crash or have inconsistencies, and paying attention to these details can prevent potential losses and heartaches in the future.
  
  
• Finally, it’s important to stay informed about emerging scams. Education and awareness are the best defences against cybercrime. "Ultimately, we’ve got to evolve with the risks associated with technology, and knowledge remains your best defence,” says Pederson. 

Watch Momentum Insure’s Circle of Safety series for more insights from experts and scammers themselves to stay informed of the latest scams and stay safe from cybercriminals.

*Pseudonym used.
*Source: Crimepsych + Idefense