SA needs robust measures against cyber fraud

from DION HENRICK in Cape Town
CAPE TOWN – THE World Password Day is a grim reminder of the increase in cyber threats affecting South Africans and the country’s businesses.

Marked every first Thursday of May, this edition comes amid a rise in digital fraud-related to COVID-19.

A recent TransUnion study revealed that 37 percent of South Africans admitted being targets.

“Furthermore, the rate of digital fraud against the country’s businesses went up by 44 percent,” added Carlo Bolzonello, country lead for Trellix South Africa.

He mentioned that while passwords may be a critical part of everyday life, they are inadequately protecting personal and business data
against these growing threats.

Instead, Bolzonello recommends that individuals and organisations use biometric or phone message multifactor authentication (MFA) wherever possible.

World Password Day is marked on the first Thursday of May.

It reminds us of the importance of protection through strong passwords.

“While laudable in its aims, if World Password Day highlights anything it’s how passwords remain a relatively weak first line of defence against cyber attacks, and certainly shouldn’t be a primary counter measure,” said Aparna Rayasam, Chief Product Officer at Trellix.

– CAJ News