Cybercrime Act unrealistic according to experts
With the Cybercrime Act having recently been signed into existence by President Ramaphosa, various experts are saying that it is over-ambitious and unrealistic, and that it can make law-abiding citizens clash with the law, according to an article published recently on News 24.
“The law firm Michalsons says it is concerned about the unintended consequences of the broad definitions in the legislation. An example is in section 3(3) of the law which deals with the possession of data.”, according to the article.
Certain WhatsApp messages can result in a fine and jail time
The new Cybercrimes Bill, which is now an act of parliament, “creates offences for and criminalises, amongst others, the disclosure of data messages which are harmful, says Ahmore Burger-Smidt, director and head of Data Privacy Practice at Werksmans Attorneys.”, according to a recent article published in BusinessTech.
Mobile banking application fraud on the increase
In a recently published article on IOL, there has been a 100% increase in mobile banking application fraud, according to an Accenture 2020 report. They also reported a 79.5% increase in card-not-present (CNP) fraud on South African-issued credit cards, saying that this is particular scam is the leading contributor to gross fraud losses in South Africa.
Cyber Insurance growing in demand
According to an article on cyber insurance published recently by ITNewsAfrica, cyber insurance is growing in demand as organisations become more exposed to cybercrime with the ongoing increase in digitisation of people’s lives. The increase in Ransomware attacks in particular is causing companies to take out insurance against the losses caused by such attacks to avoid them going out of business. It is for this reason that organisations need to focus a lot more on vulnerability management of their systems in order to prevent getting compromised by cyber criminals.