News

EAST welcomes representative from South Africa

The South Africa Banking Risk Information Center has become a national member; SABRIC was formed to help FIs and CITs across Africa combat bank-related organized crime.

April 14, 2015

The South Africa Banking Risk Information Center has joined the European ATM Security Team as the national member for South Africa. While EAST is focused on the single euro payments area, SABRIC will participate as a non-SEPA member, according to a press release.

SABRIC is a nonprofit company formed by the four major South African banks to help FIs and cash-in-transit companies across Africa combat bank-related organized crime.

According to the release, the center intends to leverage strategic partnerships to in order to serve as the continent's trusted financial crime risk information center.

Twenty-six countries maintain national member status with EAST: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, Norway, Malta, Poland, Portugal, Romania, Slovakia, Spain, Sweden, Switzerland, United Kingdom.

Canada, Russia, South Africa and Ukraine are represented in EAST as non-SEPA members.

EAST said in the release that it is currently seeking national representative members from Estonia, Iceland, Latvia, Lithuania, and Slovenia, and any other country able to share national incident and loss statistics for ATM related fraud and physical attacks.