Identity theft cost South African firms $80.9 million in 2014
Posted On: Jul. 21, 2015 12:00 AM CSTA research firm has said that identity theft cost South African businesses 1 billion South African rand ($80.9 million) in 2014, reports Fin24.
A total of 3,600 identity theft cases were reported in 2014, South Africa's fraud prevention association found.
The association has forecast a rise in the number of such cases to 4,000 by the end of 2015.
An official said that around 974 million company records that were lost or stolen in the country in 2014 amounted to losses of at least ZAR 5.8 billion ($469.2 million).