How Safe is the net for banking in Africa?

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According to Fin24 18 people fall victim to cyber crimes in Johannesburg alone. Criminals is the cyber world are using a multitude of platforms to commit these crimes such as social media and mobile platforms.

The costs over the last year in SA has been estimated at around R3.7bn and globally $110bn!

The National Intelligence Agency (NIA) are currently involved in a syndicate with South Africa Post Office Financial Institution – Postbank. The intruder managed to gain knowledge of the post office's IT system (Information Technology). This Criminal has stolen R42mil!

Postbank deals in deposits of over R4bn and process millions in social grants over the year, this accorded fortunately after Postbank spent in excess of R15m to upgrade the fraud-detection services, however this security and network system must be upgrades to prevent issues like this in the future.

To read the article about cyber crimes Click Here, or the Postbank article Click Here.

Future Bank Africa will be held next year on 10-13 March 2013, it is a meeting place for the assessment and benchmarking of new technologies and methodologies. A platform for learning:

  • Reducing fraud and increase transaction security.
  • Innovation in branch banking strategies.
  • Improving customer profitability.
  • Reducing transaction costs.
  • Implementing successful social media strategies.
  • Benchmarking against competitors.

To download the prospectus Click Here.

Companies that want to be considered as thought leaders in these areas, consider a sponsorship or exhibitions space at Future Bank Africa 2013, speak to Zara Harvey at zara.harvey@terrapinn.com

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