The banking industry has increased the usage of digital channels such as internet banking, digital wallets, mobile banking and ATM. This increases their exposure to cyber- related attacks which may lead to financial and reputational losses. Police reports in 2016
New cybersecurity threats and breaches emerge each year. Even with unprecedented vulnerabilities such as Spectre and Meltdown, the approach to dealing with the risks they pose is the same as ever: sound risk management with systematic processes to assess and
Although there is no one definition for fraud, the Collins English dictionary defines it as “deliberate deception, trickery or cheating intended to gain an advantage”. It is considered an illegal act and it is characterized by deceit, concealment and violation
Fraudsters have figured out how to break in to online accounts protected by two-factor authentication where the authenticating device is your mobile phone.
They don’t steal the phone; they simply hijack the phone number. This enables them to intercept those
Awareness
Bearing in mind that awareness of fraud risks can provide a business with protection, a useful model to know when considering the likelihood of fraud occurring is the fraud triangle. The fraud triangle is a model for explaining the
At the heart of any effective risk process are two common qualities of strong team work and open communication. This, supported by strong action and solution orientation enable the Risk Management function to carry out its mandate
It happens every single day—people open emails from unknown senders, click on mysterious links out of curiosity, and even print out sensitive information and leave it sitting on the printer. These actions certainly aren’t uncommon. But when they occur at
Charity fraud, a type of fraud that occurs when charitable organizations that solicit funds from the public for philanthropic goals, such as seeking cures for diseases or helping orphans, solicit donations in a deceptive manner or use the monies that
Kenneth’s friend made decent money working as a mystery shopper. When Kenneth was contacted for a similar position and he got the job, he was excited. His first assignment entitled the following: deposit a check from his employer and use
Computer forensics is the application of investigation and analysis techniques to gather and preserve evidence from a particular computing device in a way that is suitable for presentation in a court of law. The goal of computer forensics is to