Tackling coronavirus-related fraud
Since the beginning of the pandemic, the Federal Trade Commission (FTC) in the United States has received over 175 000 consumer reports related to COVID-19 scams, totalling a mammoth $118.81-million (R1.986-billion) in losses. The top fraud reports relate to: online...
Hunger: the devastating consequence of Covid-19 in SA
Even before Covid-19 reared its head, millions of South Africans went hungry every day, writes Gillian Le Cordeur, CEO of the Institute of Risk Management South Africa (IRMSA). While efforts to feed the vulnerable have been long-established through organisations like...
New tool addresses cyber readiness for Covid-19 security gaps
Acronis, a global leader in cyber protection, has announced the release of Acronis Cyber Protect 15, which integrates backup, disaster recovery, next-generation anti-malware, cybersecurity, and endpoint management tools into a single solution. This one-of-a-kind...
Protect yourself against insurance-related cyber-attacks
In a recent report by Deloitte, it was stated that "cyber-attacks in the insurance sector are growing exponentially as insurance companies migrate toward digital channels in an effort to create tighter customer relationships, offer new products and expand their share...
Boards must consider social media as key reputational risk
Social media have become a key communications channel, but they pose particular risks for organisations and especially their directors. This is according to Parmi Natesan, CEO of the Institute of Directors in South Africa (IoDSA), who says: "The bottom line is that...
Massive mobile fraud problem identified in SA
Paris-based anti-fraud firm Evina has determined that one out of every three mobile subscription attempts in South Africa is fraudulent. South African cellular users are very often subscribed to mobile services without their consent, the company says. After Kenya,...
Weigh up the risks of closure and opening
The coronavirus pandemic has impacted African businesses and their employees - closing many operations. With businesses in many African countries reopening after a period of inactivity, it is important that they remain vigilant about the risk environment in order to...
Risk intelligence the key to a sustainable future
Only by building risk intelligent organisations will leaders be able to overcome six distinct global threats identified by the Institute of Risk Management South Africa (IRMSA). This is according to Christopher Palm, IRMSA's chief risk advisor, who says: "Leaders at...
Indwe adopts drones for risk management
Financial services company Indwe Risk Services has adopted risk management technology - and more specifically drone technology - to propel help it identify and understand risk. RiskTech, the latest risk management offering from Indwe, harnesses advanced technology and...
Insurers seek cyber security to manage Covid-19 risk
Forward-thinking business insurance providers are rallying corporate cyber security into their offerings to lower clients' risk exposure and prevent claims. This has gained traction over the past three months as Covid-19 related cyber scams have increased. Cyber...
Shifting consumer habits demand fresh focus on fighting fraud
Nearly every part of daily life has changed as the world continues to fight back against Covid-19. Bevan Smith, head of risk at Visa Sub-Saharan Africa Most observers agree that the increased focus on digital commerce by consumers and merchants will likely remain even...
Guide to a sound and secure data management strategy
There's no honour amongst thieves; an adage that couldn't be truer in current times where unscrupulous cybercriminals target vulnerable organisations that are scrambling to find some form of operational normalcy amidst pandemic related protocols and regulations. By...