According to a Visa report, AI-powered scams have emerged as the largest threat in payment fraud, as enhanced network-level security measures have diminished chances for direct system breaches. This shift has led criminals to increasingly exploit human trust to carry out their fraudulent activities.

On June 24, the National Computer and Cybercrime Coordination Committee in Kenya announced plans to collaborate more closely with banks and mobile network operators to enhance the recovery of mistakenly sent mobile money transfers. This initiative aims to address a rise in cybercrime cases in the country, as highlighted in a recent cybercrime status report.

WhatsApp has issued a warning regarding a new scam that involves users being tricked into linking their accounts to unknown devices. This scam poses a risk to user security and privacy, as it allows unauthorized access to personal information. Users are advised to be cautious and verify any device linking requests they receive, according to htxt.africa.

MTN Nigeria has highlighted the ongoing issue of SIM-swap fraud in Nigeria's digital economy, despite various efforts to tackle the problem through discussions and conferences. The telecom company claims to have a lasting solution and is advocating for banks to contribute to the costs of telecom-powered security checks to combat this fraud.

Equity Mobile has introduced QR Code Payments to enhance the efficiency of mobile banking transactions. This new feature allows customers to send, receive, and request money without the need to manually enter phone numbers or account details, thereby reducing transaction time and minimizing errors. The expansion of QR payments aims to simplify the overall user experience in mobile banking.

Lars Gumede highlights the urgent need for South Africa to prioritize cybersecurity, noting that Eskom reports over 1 billion cyber attacks monthly and a 1,200% increase in deepfake scams over the past two years. These statistics underscore the growing threat of cybercrime in the country.