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Direct Axis Guide: How to spot a financial scam

08 July 2016

Cybercrime is on the increase and is becoming more sophisticated. A number of big cyber security breaches are expected to take place this year. Cyber criminals are increasingly using “whaling” rather than the traditional methods of “phishing” and “smishing”. Whaling is a new and more refined form of cybercrime which is used to steal from finance and accounting departments of large organisations using highly personalised information. Recent statistics showed that South Africans lose in excess of R2.2bn to internet fraud attacks annually.