PODCAST: How to protect yourself against fraud

South Africans face an increasingly risk-based landscape when it comes to fraud. Research by the Southern African Fraud Prevention Service (SAFPS) shows that identity theft has grown by more than 300% between 2021 and 2022, while cases involving money mules increased by 97% since 2021.

In 2021, money muling only comprised 22% of the fraud incidents reported to the fraud prevention service, but it increased to 35% in 2022 and to 43% in the first four months of 2023. The latest fraud statistics indicate that impersonation fraud increased by 356% over the past year, due to data leaks and compromised personal data.

There was a 600% increase in incidents reported by members of the service in 2022 compared to 2018. These incidents include conventional advance-fee scams, banking scams and impersonation scams.

Listen to SAFPS CEO Manie Van Schalkwyk tell us about the different kinds of fraud:

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