New phishing scam uncovered

A new phishing scam that uses the logos of the Banking Association SA and the SA Revenue Service has been uncovered, the association says.

"The scam invites customers to provide their personal information with a promise of paying compensation to victims of other internet scams promising tax refunds," the Banking Association SA said in a statement.

This compensation was said to come from "The Victims Redress and Compensation Funds (VRCFs)".

However, the association's MD Cas Coovadia confirmed that this fund did not exist.

Combat rising crime and fraud on the Web

The Sunday Times yesterday published a survey: Experts say country experienced highest attacks recently on crime and fraud on the Internet.

In the lead article, Web crime on the rise in SA, SABRIC warns that Internet fraud is on the increase, despite media attention over the past weeks. The number of phishing scams sent out to consumers continues to increase in South Africa. They are also becoming increasingly sophisticated.