Fraud costs trillions of dollars to world economies annually. For consumers whose identity data has been stolen, the impact on their lives can vary from being a nuisance to financial and emotional trauma Worldwide, around 40 per cent of consumers have been...
The Southern African Fraud Prevention Services (SAFPS) is on the verge of launching its Secure Citizen App which will deal with the growing challenges that fraud presents. Recent statistics point out that 77 per cent of South African companies must deal with...
Unitel was elected to chair the GSMA Association Africa Fraud and Security Group (AFASG), a specific working group dedicated to dealing with critical fraud and security issues for the telecommunications industry in Africa. The mandate has a period of two...
Fraud and identity theft; hacking; electronic vandalism; cyber terrorism and extortion; cyberstalking; invasion of privacy; cyberbullying and offensive material. These are just some of the digitally enabled crimes or illicit activities that can infringe on an...
FNB has detected abnormally high volumes and disputes of suspicious debit orders with descriptors Procall and Mzansi in December 2018 and January 2019. In line with its standard practice, the Bank informs customers of new debit orders loaded on their bank...
The chief executive officer of MTN Uganda, a unit of South Africa’s MTN Group, has been deported from the East African country over national security, police said on Friday, 15 February. The development is the latest concern for the largest...
January 27, 2019 •
Features, Security •
Neo Sesinye •
Comments Off on Why understanding cyber risk is important
The World Economic Forum’s Global Risks Report 2019 ranks data fraud/theft and cyber attack as two of the top five global risks in terms of likelihood. The big question now is how will organizations respond? Reading the World Economic Forum’s...
This holiday season should be a joyous one — for criminals. Holiday spending always makes it easier for fraudsters to steal your money, for two reasons. First, you may be so busy with shopping and parties that you don’t take that extra minute to...
November 30, 2018 •
People, Top Stories •
Danielle Kruger •
Comments Off on Floyd Mayweather, DJ Khaled unlawfully promoted cryptocurrency
Professional boxer, Floyd Mayweather Jr. and music producer, DJ Khaled are in hot water over allegations made against them of unlawfully promoting Initial Coin Offerings (ICOs). Both men failed to disclose payments they received for promoting investments in...
November 22, 2018 •
Security, Sponsored •
Neo Sesinye •
Comments Off on Beware cyber scammers as you prepare to shop before and after Black Friday
With ‘Black Friday’ just around the corner, this year on 23 November, South Africans are preparing once again to embrace and make this popular American shopping day their own, where retailers offer massive discounts for both online as well as...
Email is a regular method of attack for the cybercriminal because it is the easiest and most successful way to spread high-risk threats. This makes it one of the most popular vectors in a hacker’s arsenal. The thing with hacking an email account is that the...
Recent local cyberattacks are a forewarning of things to come and it clearly shows the vulnerabilities of South African companies. Although in recent attacks customers have not necessarily suffered any financial losses, this could quickly change with personal...
June 1, 2018 •
Security, Top Stories •
NetAdmin •
Comments Off on Protecting businesses and individuals from invoice fraud
Invoice fraud has been in the news this week after Goliath and Goliath, was hit by hackers who intercepted the company’s invoices to its clients; diverting over R300 000 from the comedy and entertainment agency and its subsidiary, The PR Bailiff. Fraud...
Ransomware attacks, where a hacker uses malware that encrypts or locks an individual or businesses valuable files and systems, then demands a random to unlock them, is on the rise. These attacks have become commonplace, adding one more reason why consumers...
Secure national identity infrastructure is foundational to delivering the benefits of a digital economy, where the bulk of transactions involve online interactions between remote entities. Whilst citizens in developed countries take identity for granted, in...
According to a report by Nigerian Communications Week, the Central Bank of Nigeria (CBN) has revealed that it is working toward the replacement of the ATM pin code with biometric identification. The revelation was made at the recent Nigeria Electronic Fraud...
