In collaboration for a report detailing the societal benefits of Artificial Intelligence in South Africa, the Boston Consulting Group, Microsoft South Africa including Wits…
South Africa has climbed to fifth place for cybercrime density in 2022, up from sixth in 2021. According to research by cybersecurity company Surfshark, last year, 56 out of 1 million internet users in South Africa were hit by cybercrime, resulting in a total of 2 000 South African cybercrime victims.
This represents a 7.8% increase in cybercrime incidents in the country, highlighting the need for increased cybersecurity measures.
The UK topped the list for cybercrime density, with 4,371 cybercrime victims per 1 million internet users, followed by the US with 1 612 cybercrime victims per 1 million internet users, Canada with 156 victims per 1 million internet users, Australia with 106 victims per 1 million internet users, and South Africa with 56 victims per 1 million internet users.
Phishing was the most prevalent cybercrime worldwide in 2022, with the highest victim count of 300 000, followed by online payment fraud impacting 63 000 individuals, extortion with 39 000 victims, tech support scams with 33 000 victims, and investment fraud with 31 000 victims.
Investment fraud was the most financially devastating cybercrime, costing the world $3.3 billion in losses in 2022.
While it may not have been as widespread as phishing, a significant 31 000 individuals were duped by investment scams.
Tech support scams were second on the list with 8$07 million in losses, followed by confidence or romance fraud ($736 million in losses), online payment fraud ($386 million in losses), credit card fraud ($264 million in losses), and government impersonation ($241 million in losses).
Surfshark developed the Data Vulnerability Thermometer, an online tool combining open-source FBI information and research algorithms, to help individuals assess their risk score, possible specific cybercrimes, and prevention tactics depending on the data points selected.
The tool also contains descriptions, typology, tips, and statistics of 20 different internet crime offenses aimed at individual users.
The encyclopedia also has extensive coverage of statistics on trends and patterns in the field of cybercrimes, including global cybercrime density statistics, financial impact, yearly growth of cybercrime costs, victim count by age, and more.
“Last year, 801 000 people fell victim to cybercrime worldwide, resulting in a total of ten billion dollars in losses. Because of how lucrative cybercrime is, there’s no reason to think cybercriminals will stop striking anytime soon. That is why it’s more important than ever to be vigilant and build up your cybersecurity defenses, which goes for businesses and individuals alike,” says Gabriele Racaityte-Krasauske, Surfshark spokesperson.
The increase in cybercrime incidents in South Africa highlights the need for increased cybersecurity measures. The South African government and businesses must take steps to ensure that their systems are secure and that individuals are informed and protected against cyber threats.
With the rising number of cybercrimes, it is essential to remain vigilant and take proactive measures to protect oneself from cyber threats.