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Southern Africa experiencing increased mobile, Internet banking fraud

Michael Malakata | April 19, 2013
Mobile and Internet banking fraud is on the rise in Southern Africa and is threatening to derail the progress that has so far been made to revolutionize banking services in the region.

Like many other countries in the Southern Africa region, in Zambia a 1GB Internet package now costs as low as US$23, down from as high as $130 just some three years ago.

"What has added to the problem in addition to the reduction in Internet cost is that phishing kits can now be easily acquired while cybercriminals no longer need to be highly trained to be able to use phishing kits or technology," said Edith Mwale, telecom analyst at Africa Center for ICT Development.

Over the past few years, the Southern African region has been trying to harmonize cyberlaws to deal with cross-border criminals by allowing member countries to prosecute cybercriminals wherever the crime was committed in the region.

However, progress has been slow in several countries.

 

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