TZANEEN: Chamber of Commerce go cyber safe
Recently an increase of 64% in digital crimes has been identified with the practice of 'sim swap' topping the list at 104%.
The Tzaneen Chamber of Commerce held its monthly luncheon meeting at the Sanloo Manor in Tzaneen last Friday.
This event which was also the final meeting of 2018, was well attended with over 60 members and guests present that enjoyed a delicious lunch prepared by the hosts.
Sponsors of the day, Trans Letaba Panelbeaters and Smith & Kie invited Phishield, a cyber security-based insurance company which cover losses for unauthorised transactions on accounts such as cyber theft, banking fraud and fraudulent credit card transactions, to share some insight into this world not much understood by the general public.
Louise Barnard, Business Development Manager of Phishield explained some of the risks internet users are exposed to which include anything from online purchasing to submitting SARS returns.
Read: Tzaneen Chamber of Commerce: Performance equals profit
According to Barnard, financial institutions will not refund a client if negligence is identified on their part nor will electronic transfer transactions (EFT) be reimbursed in the event of cyber crime.
“In 92% of cases that was reported to the Ombudsman, the majority were ruled in favour of the banks, with statistics showing that the average time span before a ruling is made by the Ombudsman is four weeks,” said Barnard.
Read: Be cyber-aware with Tzaneen Chamber of Commerce
Recently an increase of 64% in digital crimes has been identified with the practice of ‘sim swap’ topping the list at 104%.
The good news is that certain types of insurance are now available, some of these products being Commercial Crime Cover and Cyber Crime Cover.
The next Chamber luncheon is scheduled for January 18, 2019.
