J2 Software - a leading supplier of information security, governance, risk and compliance solutions - has announced the launch of J2 Home Secure, aimed at protecting home/personal users from online fraud and cyber threats.
John Mc Loughlin, CEO of J2 Software, says there is a growing trend in online fraud targeting consumers which includes: invoice fraud, fake adverts and refund scams.
“On the 4th October this year, the South African Banking Risk Information Centre (SABRIC) released its inaugural digital banking crime statistics* revealing how the advent of digital technology has seen the exploitation of digital platforms by criminals. The report states that in 2017, 13 438 incidents across banking apps, online banking and mobile banking cost the industry more than R250 000 000 in gross losses. Incidents from January to August 2018 already show a 64% increase. Frighteningly the report discloses that a comparison between January to August 2017 to the same period in 2018 shows that mobile banking incidents increased by 100%, with gross losses of R23 593 631. Online banking incidents were shown to increase by 44% with gross losses of R89 368 722,” says Mc Loughlin.