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On fin24.com

Finweek English Edition - - THE WEEK -

A record $330bn has been in­vested in re­new­able en­ergy af­ter the crash of oil and gas prices, Michael Liebre­ich, chair­per­son of the ad­vi­sory board for Bloomberg New En­ergy Fi­nance said dur­ing the African Util­ity Week. Pre­vi­ously, when oil and gas prices dropped, in­vest­ment in clean en­ergy stalled, he said, “But not this time around.” Internet users con­trib­ute to bank­ing and fi­nan­cial fraud by fall­ing vic­tim to cy­ber scams. Credit card fraud in South Africa has de­clined by 28.6%, while debit card fraud in­creased by 8.3% by the end of 2015, ac­cord­ing to the South African Bank­ing Risk In­for­ma­tion Cen­tre (Sabric). Fraud where cards were not present in­creased by 12.6% and ac­counts for 75% of losses re­lat­ing to credit cards. “The prob­lem is not that the cy­ber crim­i­nals are steal­ing our in­for­ma­tion, but rather that we are giv­ing it to them,” said Tjaart van der Walt, chief ex­ec­u­tive of Truteq Group. “We click on the links in phish­ing emails and we in­stall the ‘free’ apps on our mo­bile phones.”

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