South Africa is rated at number three on the world list of the most cyber crime victims

Updated: Jun 12

With the Covid-19 Pandemic and the rising number of people working from home, millions of workers are accessing enterprise systems outside the safety of the office


The Business Day online newspaper reported that according to the professional services company Accenture, South Africa has the third-highest number of cyber crime victims in the world with about R2.2bn lost each year through fraudulent activities carried via the internet.


These hackers perceive South African organisations and businesses as a lower risk of incurring consequences for their malicious activity due to potentially having lower defensive barriers as compared to those in more developed economies. Especially now with the Covid-19 Pandemic and the number of people working from home, millions of workers are accessing enterprise systems outside the safety of the office, which means a higher risk of hackers accessing company sensitive data.


"Increases in phishing, ransomware and malicious insider attacks mean that organisations need to place greater emphasis on nurturing a security-first culture that reinforces safe behaviours, both for people within an organisation and across entire business ecosystems," Clive Brindley said, senior manager in the security practice at Accenture in Africa.


According to the Mimecast - The State of Email Security Report "Confidence in defenses is falling. Email attacks are on the rise and they are not just affecting the bottom line. They are also causing disruption for the team members responsible for preventing them. Attacks of all stripes, including phishing, impersonation, and insider threats, are increasing across the board with no end in sight. It is no surprise that IT decision-makers are losing confidence in their organisation’s ability to prevent the worst. A whopping 61% of respondents believe that suffering a negative business impact from an email-borne attack is either likely or inevitable, a jump from 58% a year ago. What’s more concerning is that nearly 1 in 10 stakeholders feel it’s inevitable that their organisations will suffer a negative business impact from an email-borne attack in 2019."

With the risk of opportunistic criminals on the rise, and digital fraud being a reality, businesses such as Law Firms that make property transfers, deposits, bank settlements, maintenance- and utility payments, or as Estate Agencies, that make rent, deposits, maintenance- and utility payments, or Motorcar Dealerships that do settlements of vehicles, repair bills, and deposit payments, or even any other business that make payments on a regular basis can all prevent it from happening by using the Veriseal Bank Accountholder Verification System.


What is the Veriseal Bank Accountholder Verification System?

It is an online system that verifies and confirms the details of the account holder at the Bank.


How does it work?

Once you have registered you have your own secure profile, where you can log in and add users as the need arises. Once you want to verify bank accountholder details you enter the account number, account name, and identification details into the online form. You will receive confirmation in real-time or be advised which of the information is inaccurate according to the bank’s records (optional information is also verifiable).

How much does the verification cost?

Five Rand per verification.

How easy is it to use?

- Register online at www.veriseal.co.za (it takes less than 1 minute).

- Verify your email address.

- Securely fund your account with a debit/credit card.

- Start verifying.

Let us help protect your business today, make sure to register and be one step ahead of criminal activity!

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