South Africa is ranked sixth among the world’s most cybercrime-affected countries. With October being Cybersecurity Awareness Month, here are some ways to protect yourself from falling victim to online real estate scams.
South African consumers cannot afford to ignore the risks involved in transacting online. Statistics from WonderNet reveal that in 2021, an average of 97 South Africans were targets of cybercrime every hour. This is particularly shocking seeing as only 60% of South Africans have regular access to the internet.
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The Real Estate industry is seen as an easy target for cybercrime. It is particularly vulnerable to fraudulent activity because of the large sum of money that is regularly exchanged when buying and selling a property.
Jackie Smith, Head of Buyers Trust, believes that consumers urgently need to educate themselves about the risks involved in making financial transactions online. With scammers becoming increasingly sophisticated, no one is safe from potential threats.
She says: “Unfortunately, the perpetrators of these online crimes are incredibly intelligent and are constantly updating their methods to make it harder to spot the difference between a legitimate and a fake communication or website.”
“The groups that are most vulnerable to cyberattacks are the elderly, individuals who do not use the internet regularly, those who rely on public and open…
