Cyber insurance is a fallback, not a solution for a ransomware attack
Cybercrime is a growing threat to businesses globally, and South Africa is no exception. The country ranks third in the world for the highest number of users experiencing targeted ransomware attacks. By Amritesh Anaand, practice lead for unified communication at In2IT...
Growing market for personal insurance cover against online threats
Cybercrime numbers are on the up, and South Africans are not immune from this growing threat. Some of the statistics are frightening. Banking app losses increased by more than 88% last year to an average loss of R14 253 per transaction. Online banking losses increased...
Make this a season of festive cheer and not festive fraud
The festive season is a time when most South Africans, like the rest of the world, will be looking to spoil their loved ones by purchasing them gifts. Over the past few years, South Africans have been lucky enough to be able to take advantage of the discounts that are...
US fund backs Africa’s fight against mobile cybercrime
Cybersecurity firm Evina, present in 70 countries that include 15 in Africa, has secured a €20-million Series A funding round to consolidate its fight against mobile fraud that has already prevented the theft of a billion euros from telecom operators and their...
Partnering to make SA more cyber secure
Cybersecurity professionals from the public and private sectors as well as academia have joined forces to establish the Cybersecurity Digital Alliance. This is an industry body dedicated to creating a safer digital environment through policy advisory and support,...
Internal fraud: who commits it and why?
International Fraud Awareness Week, from 14-20 November, highlights an increasing problem that organisations around the world are facing. According to the Association of Certified Fraud Examiners (ACFE), businesses lose around 5% of their annual revenue globally due...
Mitigate the risk of payments fraud
Global losses from payment fraud have tripled from $9,84-billion in 2011 to $32,39-billion in 2020, according to Deutsche Bank's 2021 report on the future of payments. And financial professionals are saying Covid-19 hasn't helped matters, with 65% believing that the...
Multi-tiered approach critical in mitigating the risk of ransomware
Ransomware is currently a hot topic, and has become an everyday threat that affects the lives of everyone, not just corporations. By Kate Mollett, regional director of Commvault Africa Case in point is the recent attack on the Department of Justice, which has been an...
Cybercrime in the midst of a pandemic
Covid-19 has changed the cybercrime landscape. With more people working remotely, employees are inadvertently creating opportunities for hackers to forge tunnels into company networks through often unsecured connectivity. By Simon Colman, business head of digital and...
Critical steps help prevent and detect ransomware threats
Aon's Cyber Security Risk Report found that ransomware is a crisis that will only get worse as threat actors continue to grow in sophistication and expertise. Ransomware attackers often operate with the discipline and approach of a legitimate traditional business,...
Bracing for cyber cover in today’s data era
In today's always-on, always-connected economy, businesses are under pressure to enhance their cybersecurity strategy and prove to their customers that data protection is critical to their engagement strategy. By Michel Nader, senior regional director: data protection...
Social engineering exploits business vulnerabilities
With the growing number of online transactions taking place each day comes a marked rise in cyber-attacks and security events. According to Ryan Mer, MD of eftsure Africa, fraudsters are constantly finding new ways to exploit vulnerabilities and attack corporate...