Understanding risk in retail
While many South African retailers may be basking in the afterglow of season sales, it's still a depressed economy out there, with a growing number of independent stores turning off the lights, particularly as banks balk at financing retail initiatives. A report...
Compliance is the cornerstone to business success
Compliance is something that affects all businesses in all industries. Regardless of whether you are a large enterprise, or a small start-up, failing to adhere to every letter of the law, could see you face costly litigation, penalties, fines or worse, someone could...
Guard against under-insurance
Having a solid understanding of the implications of underinsurance is crucial at a time when many South Africans are financially strained and looking for ways to save on household costs. While there is always the temptation to cut insurance costs in a bid to save...
Risk trends to watch in 2020
The range of risks facing company executives or directors and officers (D&Os) - as well as the resultant insurance claims scenarios - has increased significantly in recent years. With corporate management under the spotlight like never before, a new report by...
Car recall scam: don’t lose your wheels
Your car manufacturer or dealership calls. Says there's been a safety recall, and they're sending a flatbed truck to pick up your car. They know your registration number and personal info, and it all seems legit and above board. So, you hand over your keys when they...
Time to add a cyber incident response plan
This time of the year is a boom time for cybercriminals. Consumers are shopping and transacting more. Shopping websites experience higher traffic volumes and process more payments than usual. Companies' security teams can often be understaffed or unprepared for the...
The day consumers are most cyber-attacked
Black Friday has become a phenomenon across the retail spectrum with many people utilising this particular day to unofficially kickstart their shopping for the festive season. However, Black Friday presents some problems as people are increasingly becoming susceptible...
Stay safe on Black Friday
Whenever people are buying more, it's an opportunity for criminals to strike, which makes Black Friday a dangerous time. With new scams on the increase, Fico's fraud experts have added new tips for staying safe. Take care at ATMs * If an ATM looks odd, or your card...
Black Friday could cost careless shoppers dearly
This Friday (29 November) is Black Friday, a discount shopping event South Africans have happily embraced. Last year, BankServAfrica reported that local shoppers spent nearly R3-billion in 4,8-million Back Friday sale transactions, and this year's sale is expected to...
Protect yourself against online fraud
This week is International Fraud Awareness Week. With the global spotlight on fraud from 17 to 23 November, statistics show that South Africa has not been immune. The South African Banking Risk Information Centre (SABRIC) reported a spike in fraud incidents in 2018,...
ABB helps secure Oman’s power network
In the Sultanate of Oman, ABB is in the process of installing a high-reliability grid communications technology solution that will protect the critical digital electrical infrastructure for the Oman Electricity Transmission Company (OETC). OETC owns and operates...
Tackle procurement fraud with vetting
Procurement fraud is a leading commercial risk and organisations must implement every possible preventative measure to ensure it does not impact the business. Described loosely, procurement fraud includes the acts of "dishonestly obtaining an advantage, avoiding an...