Tag: phishing scam

South African businesses are rushing to adopt generative AI, attracted by its potential to boost efficiency, productivity and innovation. However, without a solid cybersecurity foundation, AI will act as a Trojan horse, exposing companies to advanced cyber threats.

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.

Cyber threats usually escalate during the festive season, as cybercriminals take advantage of holiday distractions. For many, a tax refund may feel like the perfect holiday gift. But, unfortunately, cybercriminals often intercept these refunds, leaving taxpayers and businesses vulnerable.

With the holidays around the corner, combating holiday tax scams is more important than ever. While it is the season to be jolly, it is also a time for caution in South Africa. During this period, South Africans face a heightened risk of tax scams.

With Black Friday around the corner – a time when credit and account cards are in heavy use – we are urging consumers to stay alert against the rise in fraudulent activities. The increase is the use of online platforms for shopping and managing bills, opens us up to more advanced types of fraudulent activity, so preventing and minimising the risk of financial fraud is important.

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.

Technology is always great when it’s used in an ethical manner. We have a better working environment currently than some of the fore-bearers of the finance ecosystem. With the introduction of artificial intelligence (AI), we have to also consider the risk of fraud.

Despite higher inflation, interest rates and cost of living, the South African insurances market experienced a revival during the last two years, with the gross written premium across the local insurances market expected to show an annual growth rate of 5.14% from 2024 to 2028 (CAGR 2024-2028), achieving a market volume of US$100.30 billion by 2028.

As social engineering attacks continue to rise in sophistication and prevalence, the Payment Card Industry Data Security Standard (PCI DSS) has evolved to address this growing threat. PCI DSS v4.0 places a strong emphasis on social engineering awareness and prevention, going beyond generic security training to mandate specific technology and controls.

In a cryptocurrency market surpassing a staggering US$1 trillion valuation, it is no surprise that it has become a magnet for opportunistic thieves and cunning conmen. However, unlike the stereotypical villains from old Western tales who would brazenly attack stagecoaches in broad daylight, today’s crypto thieves operate with remarkable finesse, sophistication, and an uncanny ability to remain hidden.