From CompliNEWS | Financial Service Intelligence Watch

The Financial Sector Conduct Authority (FSCA) is looking to establish a National Scam Centre in the long-term, as part of developing a more co-ordinated national approach to tackling the rising rate of sophisticated cybercrimes in SA. An IT Web report notes that this is according to Sindiswa Makhubalo, departmental head of banks and payments providers at FSCA, speaking during a roundtable discussion last week at the FSCA Conference 2026.

According to Makhubalo, SA’s financial sector is experiencing a significant surge in cybercrime incidents, with the growing threat resulting in millions losing their hard-earned money to cyber criminals who use sophisticated modus operandi, as well as exploit human psychology.

In light of this, the FSCA has already launched the Digital Fraud Project to co-ordinate industry-wide crime-fighting efforts. The initiative, she noted, has led to workshops and collaborative exercises with banks, telecoms firms and regulators, creating work streams focused on reporting, stakeholder collaboration and disrupting fraud. ‘We will put the proof of concept in for an anti-scam centre,’ Makhubalo stated. A National Scam Centre (or Anti-Scam Centre) is a centralised government-led agency that brings together experts from law enforcement, regulatory bodies and private industries to combat financial fraud, disrupt scams and raise public awareness. Existing national centres include Australia’s National Anti-Scam Centre and Malaysia’s National Scam Response Centre, which focus on rapid response, intelligence sharing and public protection.

Read the Full IT Web report here