South African consumers have lost approximately $120 million to online scams over the past year, according to the South African Banking Risk Information Centre (SABRIC). Officials warn the actual figure could be significantly higher, as many cases go unreported.

Lwando Cwane, Product Head for Cyber at SABRIC, said the festive season sees a marked increase in such crimes, as people rush to complete last-minute shopping.

“Scams often come via SMS or email, offering deals from well-known retailers like Makro or Takealot,” Cwane explained. “These messages are sometimes tailored to your recent online searches, targeting items you may be looking to purchase, such as a television or other electronics.”

SABRIC urged consumers to remain vigilant online, to verify the authenticity of deals, and to avoid clicking on suspicious links or providing personal information to unknown sources.

–ChannelAfrica–