Attorney Johan Victor says crime syndicates have infiltrated banks and mobile operators in South Africa, and are assisting in SIM-swap and online banking fraud.<\/p>\n
Victor is representing a group of people who have lost millions due to\u00a0Internet banking fraud.<\/p>\n
He said all the cases involved SIM-swap fraud and alleged phishing attacks. However, in none of the cases could it be found that the victims interacted with any phishing emails.<\/p>\n
The group is demanding detailed information from the banks about the fraud which occurred on their accounts.<\/p>\n
It is, however, not only the banks which are in the firing line.<\/p>\n
Victor said they plan to take legal action against the mobile operators which were involved in the associated SIM-swap fraud.<\/p>\n
\u201cThey admitted, in writing to clients, that some of their staff members\u2019 login details were compromised and used to allow for SIM swaps,\u201d said Victor.<\/p>\n
However, the mobile operators deny liability, stating the connection with the SIM-swap fraud is \u201ctoo remote\u201d.<\/p>\n
They argue that the perpetrators also had to have bank details and bank login information to access the accounts and transfer funds.<\/p>\n
The planned legal action against the banks and mobile operators is partly aimed at exposing details behind the online banking and SIM-swap fraud.<\/p>\n
In October 2016,\u00a0news reports emerged that a crime syndicate had\u00a0infiltrated Vodacom<\/strong><\/a> and was performing SIM-swap and Internet banking fraud.<\/p>\n The report said a document showed that the crime syndicate recruited Vodacom call centre agents to help with illegal SIM swaps.<\/p>\n Vodacom confirmed it was investigating one if its agents regarding alleged SIM-swap fraud.<\/p>\n