Tag: financial loss

The South African Rand has endured considerable volatility recently, attributed to a myriad of global factors including commodity price fluctuations, financial market risk perceptions, and local political uncertainty. Amid this turbulence, South African individuals and businesses engaged in trade and investment have encountered both challenges and opportunities.

We are calling upon CISOs and boards of directors to recognise and take immediate action against the security risks associated with IT asset disposition (ITAD). As a crucial aspect of data governance, the responsible management of IT assets at the end of their lifecycle is essential to ensure compliance and safeguard sensitive information.

Every year, as the mercury dips and we begin searching for our winter coats, the construction industry likewise starts to grapple with a myriad of cold weather challenges. Frigid winter weather directly impacts the efficiency of construction workers, increasing the potential for project delays, logistical hurdles, and numerous health and safety hazards.

An interdict can be a powerful remedy for enforcing and protecting one’s rights. An interdict is an order of court that can either restrain someone from engaging in a certain or specific action or compel someone to fulfil a particular or definable obligation.

It is important to understand the difference between load shedding and electrical grid failure. Load shedding, as we understand it today, is controlled interruption of electricity supply to the public. These scheduled interruptions do not affect any municipal institution; however, electrical grid failure will affect municipalities as well as any public infrastructure.

Is the global economy headed into a recession? South Africa's economy has been flirting with a contracting state for several years. Numerous signs point to more countries landing in the same situation, even lapsing into persistent negative growth.

November marks the start of seasonal spending, with consumers looking for Black Friday and Cyber Monday deals. While this is an exciting time of year, it is equally critical for customers to be vigilant when shopping to avoid falling victim to fraudsters.

Traditional payment fraud has been rife for some time, where the cybercriminal impersonates the CEO, or other senior member of staff, to convince the finance department to make an urgent payment to either a new supplier or update their bank details.

The law is clear about how pension pay-outs are handled, and the circumstances that can prevent them. The Pension Funds Act offers employers and employees with clear insights and guidelines around how retirement funds are paid out, and what processes need to be followed in the event of a dispute.

There are two recent matters that were investigated by our office where two private banking customers fell victim to the same scam under the exact same circumstances. The story behind convincing the victims to disclose their confidential banking information was new. However, the basic scam remained the same, as did the results.