SA sees uptick in AI-based fraud schemes

SA sees uptick in AI-based fraud schemes

Fraudsters are using AI to create scams that appear more legitimate and convincing. South Africa is witnessing an increase in artificial intelligence (AI)-based fraud schemes, and the threat is set to continue. This is according to the South African Banking Risk Information Centre (SABRIC), which today released its Annual Crime Statistics for 2024. The report…

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Africa: Afreximbank’s A-/Stable Rating Confirmed by Japan’s Credit Rating Agency

Africa: Afreximbank’s A-/Stable Rating Confirmed by Japan’s Credit Rating Agency

Japan Credit Rating Agency, Ltd. (JCR) has affirmed African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook. The rating reflects JCR’s assessment of Afreximbank’s strong strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base. JCR also noted the Bank’s important role in supporting trade finance and…

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