Johannesburg – As digital banking fraud doubles, the official opposition proposes a new constitutional amendment to establish a dedicated cybersecurity authority.
In response to a dramatic surge in AI-powered banking fraud, the Democratic Alliance (DA) is urgently calling for the establishment of a dedicated Cyber Commissioner to protect South African consumers.
This proposal follows the release of the latest South African Banking Risk Information Centre (SABRIC) report, which revealed that digital banking fraud cases doubled from 2023 to 2024, with financial losses climbing from R1 billion to a staggering R1.4 billion.
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While overall crime-related losses decreased, the report highlights a worrying trend: sophisticated scams targeting individual customers are becoming increasingly common.
Currently, banks have no legal obligation to reimburse victims of authorised scams, leaving consumers to bear the losses unless they can prove bank negligence—a process that is often protracted and expensive.
The DA’s solution, framed as the 20th Amendment to the Constitution, seeks to create an independent Cyber Commissioner to lead the national charge against cybercrime.
Glynnis Breytenbach, the DA’s Spokesperson on Justice and Constitutional Development, stated: “South Africans are facing a new wave of threats in the banking sector.
“AI-driven scams are on the rise, and digital banking fraud is increasing at an alarming pace.
“The DA believes that technology must be part of the solution, not just the problem.”
Breytenbach added: “South Africans should not have to worry about being defrauded every time they use their bank accounts”.
The proposed Cyber Commissioner would be tasked with strengthening cybersecurity across both the government and the private sector.
Key functions would include ensuring the police have the tools and expertise to investigate cyber-enabled crimes, creating a central hub for monitoring threats, coordinating training, and issuing clear rules to safeguard sensitive citizen information.
“The Cyber Commissioner would give both the state and citizens the protection they need against cybercriminals who exploit technology for financial gain,” Breytenbach said.
“Our plan is about taking action now to protect citizens, strengthen institutions, and ensure our country keeps pace with technological change.”
*This article first appeared in our sister publication techfinancials.co.za
