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Consumers cautioned about cyber fraud by Judgment

Supreme Court Reversal on Cybercrime Liability: Implications for Consumers

The recent Supreme Court of Appeal (SCA) decision on liability in cases of cybercrime has sent shockwaves through the legal and financial world. The case involved a “man-in-the-middle” email fraud scheme that resulted in a property buyer transferring R5.5 million to cybercriminals posing as conveyancing attorneys.

Initially, the high court ruled in favor of the victim, ordering the attorneys to compensate her for the loss. However, the SCA overturned this decision, stating that the victim had ample means to protect herself and that the attorneys could not be held responsible for her loss.

This landmark judgment has significant implications for consumers, as it highlights the importance of tightening security measures on digital devices and being cautious when transferring large sums of money online. The duty of professional institutions to protect the public from cyber fraud has been reinforced, emphasizing the need for vigilance, secure payments, and multi-verification processes.

As cybercrime continues to evolve and become more sophisticated, individuals and businesses must take proactive steps to safeguard their financial transactions and personal information. The message is clear: in the digital age, caution and diligence are key to protecting yourself from falling victim to cybercriminals.


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