Maria David
A RECENT TransUnion survey reveals that a staggering 63% of Namibians reported being targeted by email, online, phone call, or text messaging fraud between August and December 2024.
While the majority did not fall victim, 11% said they had succumbed to these fraudulent schemes.
The survey, conducted from 21 November to 11 December 2024 for the newly released TransUnion H1 2025 Update to the State of Omnichannel Fraud Report, highlighted vishing (30%), phishing (24%), and third-party seller scams on legitimate online retail sites (22%) as the most frequently cited methods used by fraudsters.
Beyond being targeted, a significant 31% of Namibians admitted to losing money to such fraud in the past year.
According to a statement issued by Amritha Reddy, senior director of fraud solutions at TransUnion Africa, stolen credit cards and fraudulent charges accounted for the highest reported losses (33%), followed by third-party seller scams (27%) and phishing (21%).
Reddy emphasized the prevalence of digital fraud in Namibia, noting the country’s 110% mobile phone penetration rate.
“While cybercriminals will attack at any time using any channel, they appear to focus on channels most popular in the regions they are targeting,” said Reddy.
Reddy indicated that 37% of Namibian respondents claimed they were not aware of being targeted by fraud, raising concerns about potential unrecognized threats.
Among African countries surveyed, Namibia tied with Kenya for the second-highest percentage of consumers who fell victim to digital fraud in the latter half of 2024, while Zambia reported the lowest.
Globally, the TransUnion report, built on intelligence from TransUnion TruValidate, found that communities (online forums and dating sites) experienced the highest rate of suspected digital fraud attempts in 2024, at nearly 12%.
This was closely followed by video gaming (11%), gaming (8%), and retail (8%).
The logistics industry witnessed the most significant global growth in suspected digital fraud volume in 2024, increasing by over 100% year-over-year (YoY). Gaming also saw a substantial 20% YoY volume increase, while telecommunications, insurance, and video gaming experienced decreases.
Reddy commented on the resurgence of fraud on community platforms, saying cybercriminals take advantage of the trust inherent on community-based platforms and target members with a wide range of scammer solicitations—the most reported type of digital fraud in communities.
Within Namibia, retail recorded the highest suspected attempted digital fraud rate in 2024 at 8.4%, with a 68.5% increase in volume from 2023.
The travel and leisure industry also saw a significant 111.8% increase in suspected digital fraud attempts YoY, albeit from a low base.
“It is encouraging to see that attempts at digital fraud have decreased across several of the surveyed industries in Namibia,” Reddy concluded.
Organisations that draw on identity, device, and behavioural insights to help them interact with legitimate consumers while mitigating fraud risk are more likely to protect themselves and their customers from the scourge of digital fraud.
The TransUnion H1 2025 Update to the State of Omnichannel Fraud Report includes specific country and regional data from Namibia, Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, the Philippines, Puerto Rico, Rwanda, Spain, South Africa, the United Kingdom, the United States, and Zambia. The full report is available for download, offering further insights into global fraud trends.
