Retirement fund trustees face personal liability for cybersecurity non-compliance
With the Joint Standard on Cybersecurity and Cyber Resilience set to take effect in June, trustees could be held personally liable for losses due to data breaches.
#cyberattack
Tax Ombud to investigate widespread taxpayer profile hijackings
The tax fraternity is concerned about the apparent ease with which scamsters can bypass SARS’s security protocols.
Taxpayer’s (legitimate) refund stuck in limbo after profile hacked
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
Ransomware surge signals growing cybersecurity risks, Aon report warns
A number of high-severity ransomware incidents hit insurers’ books in 2023, Aon South Africa’s 2024 Insurance State of the Market Report says.
Ransomware gang claims to have leaked government pension data
LockBit, the cybercriminal group allegedly responsible for the attack, was the subject of a take-down operation by global law enforcement agencies.
CEO ‘guilty of negligence’ after firm suffers R15m fraud
The loss equated to more than 20% of the company’s annual profit, based on the exchange rate at the time of the incident.
Corporate loses R483 million in ‘deepfake’ conference call scam
The 13th Allianz Risk Barometer reveals that deepfake video technology, aimed at facilitating phishing scams, is now readily available online, priced as low as R377 a minute.
Cybercrimes and business interruption: what to look out for in policies
Many businesses are operating under the false belief that their insurance policy adequately covers data security and privacy exposure.
