What you need to know about the new face of banking fraud

What South Africans Need To Know About The New Face Of Banking Fraud

A new generation of banking fraud is taking hold in South Africa, and it is far more sophisticated than the phishing scams many consumers are used to. Instead of stealing passwords or card details, criminals are now gaining live access to victims’ devices and using them to move money in real time. These attacks are known as Remote Access Trojan, or RAT, scams. They are difficult to detect, highly convincing, and increasingly common across the lo…

What South Africans Need to Know About the New Face of Banking Fraud - SME Tech Guru

One of the fastest-growing and most dangerous scams targeting South African consumers involves something many people have never heard of: RAT attacks. According to Bonolo Sebolai, Head of Fraud at TymeBank, these scams rely on tricking customers into giving criminals direct access to their devices. “RAT scams are particularly dangerous and extremely sophisticated because they are designed to use the device at the same time as the customer withou…

What you need to know about the new face of banking fraud

One of the fastest-growing and most dangerous scams targeting South African consumers involves something many people have never heard of: RAT attacks. According to Bonolo Sebolai, head of fraud at TymeBank, these scams rely on tricking customers into giving criminals direct access to their devices. “RAT scams are particularly dangerous and extremely sophisticated because they are designed to use the device at the same time as the customer withou…