Digital banking fraud complaints surge by 73% [SOUND]

# The National Financial Ombud Scheme reports a 73-percent increase in digital banking fraud complaints, rising from one-thousand-436 cases in early 2024 to two-thousand-483 this year. Regulatory adjudicator Johan Brouwer told eNCA that phishing remains the most common tactic, with fraudsters tricking customers into revealing credentials. Recently, 500-thousand-rand was stolen through virtual cards after a customer fell victim. He warns that while virtual cards are safer, compromised credentials can enable fraud: