Title: Eswatini Suffers Over E55M Losses to Cyber Fraud in a Year - Police
National Commissioner of Police Discloses Alarming Increase in Fraud Cases
In a sobering disclosure, National Commissioner of Police, William Dlamini, revealed that Swaziland (Eswatini) has experienced a significant financial loss of over E55 million due to fraud in the past year. The revelation was made during the International Fraud Awareness Week Launch held in Mbabane, represented by Deputy National Commissioner Mumcy Dlamini.
The Rise of Fraud Cases in Eswatini
Dlamini acknowledged the increasing trend of fraud cases in the country, which have gone up by 0.5% compared to the previous year. He emphasized the constant threat fraud poses to the financial stability of both individuals and businesses in Eswatini.
“Cybercrime is a significant part of fraud in our country. With more people transacting online, the risk of lowering one’s guard and quickly clicking on malicious links increases,” said Dlamini.
The Role of Digital Age in Online Transactions
With the advent of the digital age, online transactions have become common practice. However, this increase in digital transactions also presents new opportunities for fraudsters to target unsuspecting users.
Combating Fraud Through Education and Awareness
The Eswatini Bankers Association (EBA) and other stakeholders have been commended for their efforts in combating fraud through education and awareness. Practical strategies and initiatives have proven effective in reducing the impact of fraud locally.
Common Cyber Fraud Scams in Eswatini
Two of the most common cyber fraud scams reported in Eswatini were:
- ATM fraud - Over E400,000 was stolen in 45 cases.
- Internet fraud - Over 141 cases were reported between October 2021 and September 2022.
Staying Vigilant and Practicing Safe Online Habits
The police urgently emphasized the importance of cybersecurity awareness and urged all to practice safe online habits to mitigate the risks of falling victim to cyber fraudsters.
“One click could lead to substantial financial losses,” said Dlamini.
International Fraud Awareness Week Launch
The International Fraud Awareness Week Launch aims to encourage users to exercise caution and thoughtfulness when transacting online, as fraudsters continue to evolve their tactics to exploit digital platforms.