Telecom-linked fraud is costing South Africa an estimated R5.3 billion (US$300 million) every year, with nearly 60% of mobile banking fraud linked to SIM swap crimes, according to a new report from the Communication Risk Information Centre (COMRiC).
Telecom-linked fraud is costing South Africa an estimated R5.3 billion (US$300 million) annually, with nearly 60% of mobile banking fraud linked to SIM swap crimes.
That’s according to the 2025 Sector Report from the Communication Risk Information Centre (COMRiC).
Infrastructure-related losses – driven by copper cable theft, battery vandalism, and sabotage – exceeded R7 billion ($395 million) across telecoms, energy, and logistics, the report found.
COMRiC said that there has been a surge in criminal activity targeting both digital systems and physical infrastructure, with cyberattacks increasing by 126% globally and fraud in South African telecom-linked transactions rising by 78% from 2022 to 2023.
This article originally appeared on Connecting Africa. Click here to read the full story.