CAPE TOWN – The SA Banking Risk Information Centre (Sabric) has warned businesses and their employees that criminals impersonating local chief executives and other executives could not come at a better time.
Cybersecurity expert at Mimecast Brian Pinnock said Friday’s planned banking strike in which more than 50 000 banking staff were expected to abstain from work could leave consumers vulnerable and at heightened risk.
Mimecast is an international company specialising in cloud-based email management for Microsoft Exchange and Microsoft Office 365, including security, archiving, and continuity services to protect business mail.
“Our latest global research found that 33 percent of South African firms experienced an increase in impersonation fraud involving CEOs and other executives over the past year, while impersonation fraud involving email-based spoofing of vendors or business partners increased by 38 percent. Attackers are gaining access to a wealth of online information to build complex social engineering activities that prey on people’s natural trust of known associates,” said Pinnock.
Bank customers have been advised to make use of digital banking services as far as possible on Friday to avoid any unplanned or illegal disruptions of branches, even though the planned banks strike has been deemed unprotected by the court.