South Africa’s cybercrime density rose by 7,8% between 2021 and 2022, resulting in the country’s rise to fifth place compared to sixth in 2021, according to Surfshark research analysing cybercrime density worldwide.
The increase in cybercrime incidents in South Africa highlights the need for increased cybersecurity measures. Phishing was the most prevalent cybercrime worldwide in 2022, while investment fraud proved to be the most financially devastating.
“Last year, 801 000 people fell victim to cybercrime worldwide, resulting in a total of $10-billion in losses,” says Gabriele Racaityte-Krasauske, Surfshark spokeswoman. “Because of how lucrative cybercrime is, there’s no reason to think cybercriminals will stop striking anytime soon. That’s why it’s more important than ever to be vigilant and build up your cybersecurity defenses, which goes for businesses and individuals alike.”
The UK topped the list for cybercrime density with a 4 371 cybercrime victims per 1-million internet users, followed by the US with 1 612 cybercrime victims per 1-million internet users, Canada with 156 victims per 1-million internet users, Australia with 106 victims per 1-million internet users and, finally, South Africa with 56 victims per 1-million internet users.
In 2022, phishing continued to be the most common cybercrime in the world, with the highest victim count in the world – 300 000.
Online payment fraud was the second most common type of cybercrime, impacting 63 000 individuals, followed by extortion with 39 000 victims, tech support scams with 33 000 victims, and investment fraud with 31 000 victims.
Investment fraud cost the world $3,3-billion in losses in 2022, making it the most financially devastating cybercrime in 2022. While it may not have been as widespread as phishing, a significant 31 000 individuals were duped by investment scams.
Tech support scams are second on the list with $807-million in losses, followed by confidence or romance fraud ($736-million in losses), online payment fraud ($386-million in losses), credit card fraud ($264-million in losses), and government impersonation ($241-millio in losses).
A massive $36,4-billion has been stolen by cybercriminals since 2001, and yearly losses have been on an upward trend throughout this whole period.
In 2022 alone, $10,3-billion was stolen by cybercriminals, compared to $6,9-billion in 2021 and $4,2-billion in 2020.
Surfshark developed its Data Vulnerability Thermometer combining open-source FBI information and research algorithms. The online tool gives users their risk score, possible specific cybercrimes, and prevention tactics depending on the data points selected.