Cybercrime fight calls for joint effort
BEING digital is no longer a trend but a way of life. Businesses, including those in the banking sector promoting cashless transactions, are trying to adapt to changing consumer behaviour by adopting new digital platforms. While these platforms provide agility and flexibility, they are also a gateway for cyberthreats and fraud, and businesses and consumers alike need to be aware of this.
A recent survey undertaken in the Middle East, Turkey and Africa region (Meta) shows that 86% of South Africans regularly use online banking, which is higher than the Middle East and Turkey.
Despite this, the survey also shows that South Africans are the most sceptical when it comes to the security of online banking – and have reasons to be concerned with credit card fraud alone having increased to R436 million last year.
South African online bankers were the highest targeted in hacking attempts in the region at 18%.
The reality is that information has become the “new oil” not only for businesses trying to acquire intelligence, but also for cybercriminals.
And these criminals are continuously crafting new ways to attack. In fact, we detect 360 000 new malicious files daily.
Cybercrime is a and South Africa immune.
This requires organisations to upskill on threat detection and invest in technology that identifies threats in real time to ensure that they can offer their customers a true cybersecurity strategy that takes into account data protection.
Companies need to ensure cybersecurity forms part of their technology adoption strategy. Over and above this, consumers need to be equally aware of the threat and ensure that they only make use of service providers which take cybersecurity seriously. global challenge is certainly not