Card Fraud Remains a Concern

The South African Banking Risk Information Center (SABRIC) reiterated concerns for bank card fraud on Tuesday. The organization highlighted banking industry data which indicates that most card skimming takes place using hand-held devices, and happens during payments - when the card holder has actually lost sight of the card, in shops and places of entertainment. SABRIC further advised bank card users to insist on having a mobile point of sale device brought to them, or to walk to the pay point and make the transaction in person. Although there has been a significant decrease in fraud committed with lost and stolen cards over the last year, banks are reminding users to report their lost or stolen cards in a timely manner.