FNB backtracks on password decision

FNB recently announced a new online banking policy which prevented users from saving their passwords to their browsers. However, the bank received a backlash from techsavvy users, who pointed out that using software to bypass this feature would create more...

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IT managers inundated with cyberattacks

A recent Sophos survey has found that IT managers are struggling to cope with the volume and magnitude of cyberattacks. The following key findings relate to South Africa: Cybercriminal tactics have evolved into using multiple attack methods and often multiple payloads...

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Ghost employees could cost you your business

The occurrence of ghost employees on a company’s payroll system ranks as the most difficult type of payroll fraud to detect, particularly in larger companies where no proper controls exist. Over time, this can pose a serious threat to the organisation’s profitability...

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FNB users can no longer save their passwords in a browser

First National Bank (FNB) has announced that users will no longer be able to save their online banking passwords in their browsers. Going forward, whenever a user wants to log into their account they will have to do so manually. This forces users to keep their banking...

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JPMorgan, Barclays rigged foreign exchange market

By Kaye Wiggins for Bloomberg / Fin24  Barclays, Citigroup, HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in coming weeks for rigging the multi-trillion dollar foreign exchange market, two people familiar with the matter said....

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City Power hit by virus

Johannesburg residents using pre-paid electricity have been left in the dark after a computer virus hit City Power, rendering users unable to purchase electricity. The utility’s spokesperson, Isaac Mangena, was cited on News24 as saying “the virus had attacked...

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The costs of data breaches are on the rise

By Warwick Ashford for Computer Weekly The cost of a data breach has risen 12% over the past five years to £3.2m on average globally, with a 10.56% increase in the UK in the past year alone to £2.99m on average, a study reveals. In the UK, the average size of a data...

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Shoprite fights crime to keep customers and staff safe

The Shoprite Group is fighting crime by investing heavily in sophisticated security and other measures to make its shopping space secure, reduce the number of criminal incidents and increase the number of arrests. This is in the wake of the retail industry...

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Eskom declares ‘no pay, no fix’ policy

By Jenni Evans for News24 Johannesburg mayor Herman Mashaba is seeking an urgent meeting with the Eskom board over the power utility’s declaration that it will no longer do repairs in places illegally connected to the power grid. This follows a meeting between...

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Malware replaces real Android apps with fake ones

By James Pero for Malware that replaces victims’ legitimate apps with a malicious doppelgänger has infected 25-million devices across India, the UK and the US, say security researchers. The virus, named ‘Agent Smith’ after a fictional...

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Watch out for these common banking crimes

SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry has released its annual crime stats for 2018. “We are concerned about some of the increases, which clearly reflect that criminals will take every opportunity to get their...

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