South African consumers have lost around R2 billion to online scams over the past year. This is according to the South African Banking Risk Information Centre SABRIC, which says that the number could be much higher due to some cases not being reported.
Insurance Company, iTOO Special Risks is warning consumers to be extra cautious when shopping online.
Cyber Insurance expert, Lwando Cwane says they have noticed a significant uptick in such crimes occurring during the festive season, as people look to get last minute shopping done.
