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Examples
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"SARS is currently refunding individuals who are entitled to tax refunds and thus the storyline is quite believable," said Sabric commercial crime head Susan Potgieter.
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Sabric advised individuals to treat all payments seriously, to check with their creditors directly on telephone numbers other than those from which they were contacted, and to use the electronic transfers agreed on when contracts were entered into.
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Credit card fraud in South Africa increased 146 percent in the past year, the South African Banking Risk Information Centre (Sabric) said on Monday.
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"It is a frightening picture, it really is," said Sabric chief executive Kalyani Pillay.
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South Africans were also losing thousands of rand at the moment to a variation of the deposit and refund scam, Sabric said in a statement.
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Sabric said a number of initiatives had been undertaken to manage the threat posed by bombings.
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"Obviously the account number they provide has been fraudulently opened," said Sabric.
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Potgieter could not supply the numbers of arrests made but said the scam was prevalent enough for Sabric to warn the public.
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Sabric is a section 21 company set up to help the banking industry combat crime.
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"The fraudsters are using sophisticated handheld card readers or scanners which are placed in the card-slot of an ATM and which clones the ATM user's card," said Gilbert Swats, chief executive officer of Sabric.
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