Cybercriminals will prey on unwary consumers this festive season
While South African consumers are generally alert to common cyber scams such as fake e-commerce sites, there are many other ways cybercriminals could compromise consumers' digital security and financial well-being. This is the warning from committee members of the...
GenAI and its impact on payment fraud
The accessibility of generative AI tools has lowered the barriers for would-be criminals, while the transition to hybrid work models and geographically dispersed teams has expanded the attack surfaces they can exploit. In this context, the overlap of AI technology and...
The power of proactive fraud detection
Fraudulent activities, prevalent in both the private and public sector, pose significant challenges to organisations and their stakeholders. There has been a noticeable shift in employing different methods and tools (such as cutting-edge AI and data analytics) which...
Future proof against AI security threats
What a difference a year makes: before 2023, artificial intelligence (AI) was primarily a subject for movies, business analytics, or sophisticated background applications. But since late last year and throughout 2023, we've witnessed an explosion in AI technologies...
Ransomware and the obligation to stop fraud
Cyber security has taken centre stage in South African commerce, and it's no surprise, given the prevalence of ransomware attacks on businesses in Africa, write Karl Blom, partner, and Laone Setshedi, candidate attorney from Webber Wentzel. South African law sets out...
A proactive approach to health and wellness in insurance
Today's rapidly evolving healthcare landscape is resulting in the traditional, reactive model of insurance undergoing a transformative shift. By Simon Spurr, executive director at Alula Technologies Forming the basis of this change is the need to harness rich data...
Mitigate fraud in business-to-business trade credit transactions
Fraud is a pervasive business-to-business problem, with numerous different methods being employed by fraudsters. This is the word from Ann Buitendag, chief operating officer of credit management services company Debtsource, which processes about 7 000 credit...
Cyber-awareness education is a change management initiative
As cyber adversaries continue advancing their tactics, organisations around the globe are at greater risk than ever of being breached. By Rob Rashotte, vice-president: global training and technical field enablement at Fortinet According to recent Fortinet research,...
Does cyber insurance truly mitigate financial risks?
Cyber insurance has many benefits, but also some limitations that CFOs and accounting departments aren't always aware of. Here's how you can protect yourself more comprehensively. The estimated impact of cybercrime on the South African economy is R2,2-billion per...
Executives need to protect themselves against social media scammers
With the rise of social media scams globally, business executives find themselves increasingly targeted by cybercriminals seeking to exploit their personal and professional lives. WhatsApp, Facebook, and Instagram have become prime platforms for scammers to lure...
Hacking and your business: not if, but when
South Africa is experiencing a massive surge in internet crime. A shocking 78% of South African organisations were struck by a ransomware attack last year, up from 51% the previous year. And, according to INTERPOL's 2022 Africa Cyberthreat Assessment report, South...
Insurance coverage for global events
Events such as the Covid pandemic and rising levels of cybercrime are encouraging insurers to revisit their policy wording to exclude certain events, write Sandra Sithole, partner, and Dr Ninakhulu Ntsanwisi, associate from Webber Wentzel. Over the past three years,...