Tag: RiskManagement

Fraud has become one of those business risks that most owners acknowledge, but very few believe will happen to them. That mindset is becoming increasingly dangerous.

Consider a regulatory institution with an enviable compliance record. Its enabling legislation contains robust independence provisions. Its annual report is filed on time. Furthermore, its external audit is clean. It has a conflict-of-interest policy, a risk management framework, and a signed memorandum of understanding with each of its peer regulators. By many conventional measures, its governance arrangements appear sound.

Every meeting is now recorded and transcribed by an Artificial Intelligence (AI) notetaker, but nobody knows where the files reside or who has copied them. In August 2026, Dark Reading discovered a vulnerability in tl;dv’s backend. It allowed an authenticated user to access meeting information belonging to other customers. The vulnerability put more than 180,000 meeting records across 80,000 or more users at risk.

E-hailing, for most South African businesses, has become the default mode of getting employees from A to B. After all, there are no invoicing headaches or petrol reimbursements to worry about. Your employee simply opens the app, books the ride, and gets on with their day. That familiarity, however, has been complicated by a regulatory shake-up that caught many businesses off guard.

In Las Vegas Sands, LLC vs National Union Fire Insurance Co. of Pittsburgh, the United States Court of Appeals for the Ninth Circuit reviewed the matter de novo. The court held that the lower court had erred by treating legally distinct causes of action as a single, unified “Claim”. These causes of action included breach of contract, fraud, and quantum meruit, all pleaded within one lawsuit.

For many South African businesses, spring marks the start of one of the busiest periods of the year. Retailers begin building stock ahead of the festive season. Meanwhile, manufacturers land export orders they've been chasing since autumn, and contractors pick up tenders that stalled over the colder months.

South Africa loses nearly half (47.3%) of all municipal water supplied through leaks, infrastructure failures, and other non-revenue losses. Meanwhile, copper theft costs the economy an estimated R45 billion a year. Road maintenance backlogs also exceed R197 billion. These problems reflect the increasingly interconnected nature of South Africa’s infrastructure systems. Consequently, disruptions to electricity or water supplies, road deterioration and stormwater drainage failures can quickly escalate.

A cyberattack does not end when malicious activity has been contained. For the affected business, that is usually when the most expensive phase begins. When an attacker breaches a system, the problem quickly extends beyond IT. Systems may go offline while staff try to keep the business running. Customers demand answers, and the business may need to meet regulatory obligations. All these activities cost money, often when revenue is already under pressure.

Read our exclusive cover story titled - Operational resilience – adapting to geopolitical instability by Nashikta Angad, Movashan Moodley and Mishana Pillay, KPMG Southern Africa, plus a host of other topical management articles written by professionals, consultants and academics.

When a financial institution moves Jira, Confluence, or Jira Service Management into the cloud, part of the operational burden shifts to the provider. Atlassian runs the platform and maintains the underlying infrastructure. Meanwhile, the customer gains the service capabilities that come with software as a service (SaaS). However, moving to the cloud does not eliminate the institution’s responsibility to manage technology risks and meet regulatory requirements.