Host Mudiwa Gavaza is joined by FNB executive Dr Christoph Nieuwoudt
As more South Africans work from home, shop online and the economy shifts to digital channels, the threat of cyberattacks has become a growing reality.
The hack exposed some personal information of as many as 24-million South Africans and almost 800,000 businesses, the SA Banking Risk Centre , a nonprofit organisation set up by major lenders to combat bank-related organised crime, said in a statement on Wednesday.SA has the third-highest number of cybercrime victims in the world with about R2.2bn lost each year through fraudulent activities carried via the internet, according to professional services company Accenture.
Nieuwoudt says on the retail side, what was shared was contact information of customers only. “This is not banking data. It’s not financial information either,” he said, explaining that it was mainly e-mails, addresses and phone numbers. “Why are we making such a big thing of this? Really, it’s because this information can be used to commit crime. So the contact information can be used by criminals to pretend that they are you or they can send you phishing attacks that actually solicit further information from you to launch an attack on you.”
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