Tag: financial loss

Email plays an integral role in daily life, but cybercriminals exploit it as a prime attack channel. Phishing scams involve malicious emails designed to trick recipients into revealing sensitive information. These scams rank among the most prevalent cybersecurity threats.

With the 2024 matric pass rate on the rise, employers face an influx of job applicants. But how can companies ensure they are hiring candidates based on genuine qualifications? South Africa has celebrated a notable increase in the matric pass rate for 2024 - from 82.9% in 2023 to 87.3%.

With increasing alacrity, businesses must recognise the crucial need to transform their organisational structures. This is necessary to keep pace with the rapidly evolving digital landscape. However, it’s equally important for organisations to consider the associated risks. This will ensure long-term resilience.

As Black Friday approaches, millions of consumers prepare for one of the busiest shopping days of the year. The excitement of discounts and limited-time deals drives online shopping. However, this also creates an opportunity for cybercriminals to exploit the surge in activity.

Consumers are familiar with phishing emails, fraudulent SMS messages and social media scams. However, the scale and complexity of cyberattacks on critical sectors far exceed these relatively simple threats. Entire industries and governmental bodies face increasingly sophisticated attacks. These attacks can cripple essential services, cause significant economic damage and compromise sensitive data on a massive scale.

In the same way that prenuptial agreements are considered a necessity for many marriages, business partnerships require meticulous planning to safeguard against the consequences of potential disputes and ensure a smooth separation if the need arises. By incorporating comprehensive shareholder agreements or Memorandums of Incorporation (MOIs), businesses can protect their interests and foster fair and equitable outcomes during unforeseen conflicts.

Any business relying on machinery and equipment for its operations is exposed to the probability of significant financial losses due to a breakdown of a key piece of machinery that isn’t quickly or easily replaced or repaired.

Internal controls are an essential component of any financial management system. It helps your organisation retain financial integrity, meet regulatory requirements, and compile reports essential for improving the business. These processes are especially crucial in accounts payable (AP) departments to manage financial transactions and ensure that payments are authorised, accurate and properly documented.

As Artificial Intelligence (AI) technology continues to evolve globally, its integration into the South African business landscape is becoming increasingly prominent. Companies across various sectors are leveraging AI to drive efficiencies, optimise operations, and create new revenue streams.

In today’s digital age, cybercrime is advancing at an alarming rate. As technology evolves, so do the tactics of cybercriminals. Unfortunately, your South African Revenue Service (SARS) e-filing account is not immune to these threats.