Search results: banking apps

Why South African’s Love to Hate Online Banking Apps

2 Oct

There’s always an element of risk involved when making use of any online services and applications. It is this risk that’s holding South African’s back from truly capitalising on the benefits of digital advancements, particularly in the banking and finance industry.

No one can really be blamed for the hesitance to make use of online banking apps. With hacking, identity theft and online fraud recurrent problems in the country, it stands to reason that the average South African would rather not take the risk.

Don’t be intimidated by digital banking

The fact of the matter is that online banking apps, when correctly implemented and maintained, are more often than not, beneficial to the end user (yes, that’s you).

In order for the banking industry to ensure that more people start making use of their dedicated and secure solutions, they have to understand why banking apps are so disliked in the country.

It largely comes down to misconception about the apps themselves. Below are the top 6 reasons why:

  • Intimidated by technology – those who don’t have much experience with digital technology often don’t feel confident in their ability to complete transactions correctly without making mistakes or getting confused.
  • Lack of education surrounding the service – online banking apps are virtual by nature and this seems to scare people off as they are unfamiliar with the apps, they don’t know how to access them correctly, how to set them up or just how much they can do with them.
  • Conservative trust in traditional banking methods – people have been doing their banking within established branches for many years. This has developed a level of trust between the bank and the customer. It’s proven difficult to draw people away from their long standing established banking behaviours.
  • Misconceived costs – many people simply assume that banking digitally will cost more, when in actual fact, it generally costs less. Customers don’t have to travel anywhere to complete transactions and because data costs are dropping, online transactions are significantly cheaper making a transaction within the branch.
  • Fear of fraud and the unknown – many long term bank customers fear the online world, which doesn’t come as a surprise with online fraud and identity theft seemingly always on the rise. Leading banking institutions must take responsibility to implement a number of security features to protect the customer, and most of them already do.
  • Lack of access – while you might think that the vast majority of the population has access to a smartphone, many individuals claim that they avoid online banking apps as they don’t have access to the correct mobile channels. Perhaps it’s a case of lack of data or simply having the wrong handset / mobile device.

According to Ryan Prozesky, CEO of Value Banking Solutions at FNB, it all comes down to educating the public and reassuring them that their best interests are being protected. He stated the following: “When engaging customers about the benefits of cellphone, online and app banking, we found that once they understand the benefits and trial digital banking, they are much more receptive to these technological advancements.”

Prozeksy also urges individuals to take advantage of the innovation and technology that has been made readily available to them.

It’s astounding how far technology has come over the years. While there is risk involved, as long as you understand the security measures that have been put in place, there is also a great deal of positive too.

 

Do you make use of banking apps? Which online apps do you find most useful. If you don’t use online banking apps, let us know why! Share your thoughts.

WhatsApp scams Increase | Apps

18 Apr

Watch out for new WhatsApp scams

Most people these days use WhatsApp to stay in touch, and work teams frequently communicate with colleagues using the popular app.

Unfortunately, cybercriminals keep finding ways of impersonating WhatsApp contacts and that could lead to serious financial losses for unsuspecting victims.

We have posted before about the dangers of Whatsapp scams and it seems like fraudsters keep getting smarter, coming up with new ways of causing trouble using the app to pose as friends, relatives, managers, and business entities.

Here’s what to look out for as a WhatsApp user in 2023.

That message from the boss? Check that it’s not fake

The latest WhatsApp scam going around the country involves messages that sound like they’re from your boss or manager.

In reality, these communications are the work of criminals bent on defrauding your company.

  • If you receive a message claiming to be from your manager or another senior member of staff, it’s essential to verify that the person who sent it is really who they say they are.
  • A message of any kind from an unknown number, asking you to make a purchase or transfer funds, should raise a flag and be regarded as suspicious until such time as you have verified the sender.
  • Receiving a “help, I’m in trouble” message from someone claiming to be a colleague can be alarming, but before you fire up your banking app to assist them, it’s essential to verify their identity – preferably with a phone call.

Despite online security measures, there’s no denying that a big part of our lives are public knowledge nowadays – and cybercriminals are more than capable of researching a company and identifying its managers and team members to carry out these kinds of attacks.

Beware of fake business accounts

If you receive an exciting message offering you a brand new product or service – especially a premium offering like luxury goods at a price that’s too good to be true – you could be dealing with a fake WhatsApp business account.

Mobile phone users have been conned out of thousands of Rands after responding to messages from fake businesses and paying for products that never materialise.

As with the impersonation scams above, there are several ways to stay safe and avoid cybercriminals that are simple yet effective:

  1. Reduce the risk by restricting your shared information on WhatsApp.
  2. Avoid being added to groups automatically by restricting your profile.
  3. Treat WhatsApp with the same protocol as email – don’t click on unknown links, don’t forward content and double check everything.
  4. Introduce a WhatsApp policy for your business and ensure staff are educated about new security threats.

What’s the one thing can you trust online?  Secure cloud storage

Keeping your data safe has become the new challenge for business owners in SA. Our encrypted backup solutions are your best weapon in the fight against cybercrime.

Browse our range of secure cloud storage packages today to safeguard your company information.

WhatsApp Apps | App Security and Updates

8 Sep

The Low Down on WhatsAppening to WhatsApp Apps

Mobile apps have transformed the way we live our lives. From ordering online to keeping tabs on our health, from banking to gaming there’s an app for everything, and communication apps are a big part of the conversation. In fact, can you even remember how you conversed before the days of Skype, Slack, Facetime, Telegram, WhatsApp or WeChat?

However, with modern technology and mobile apps changing at virtually the speed of light, it’s important to remember that these innovations can come with an added cost to your security.

Take Facebook owned WhatsApp Messenger as an example.

Launched in 2009, this platform is one of the most popular messaging apps in the world. Ever evolving, messaging apps such as WhatsApp are difficult to monitor and control making them a frequent target of hackers and scammers. We take a look at recent updates and developments to the platform and how these might affect your data security.

whatsApp updates

WhatsApp first announced its improved multi-device capabilities in July 2021. This meant that apps supporting the WhatsApp function would no longer require a smartphone connected to the internet in order to function properly.

This new capability offers app users the ability to use WhatsApp on an additional four non-phone devices, without being connected to the phone.

how secure are third-party WhatsApp apps?

To run an official WhatsApp version on a tablet currently you need to use the WhatsApp web platform, but users often download modified versions of the app such as GBWhatsApp and WhatsAppPlus.

These third-party apps go against the Terms of Service of the WhatsApp platform and aside from the security risks that users expose themselves to, they also stand the risk of having their WhatsApp account banned for using an unsupported version of the app.

coming soon to iPad

Facebook is in the process of giving WhatsApp a virtual facelift by creating an app suitable for tablets, adding this to their own virtual tool-belt of multi-device support capabilities.

The multi-device 2.0 will mean that you can use your iPad as a linked device without needing your smartphone to act as a hub for the link although you will still need to have a phone number. Currently, the app can be connected through portals, Windows and MacOS but these need to have a primary smartphone device connection.

While still under development, you can expect to see these changes in the very near future. In addition, the changes will mean that WhatsApp will work independently for iPad, and those with iOS will automatically have the iPad version once it is rolled out.

will whatsApp still be secure?

To keep users secure, WhatsApp has revamped its security measures. Each multi-device will have its own identity key mapped to the user’s account. As a result, messages are encrypted and not stored on servers once delivered.

In addition, using improved technologies will prevent compromised servers from snooping on communications if they add additional devices to the user’s account.

  • Extended security codes – unique identifiers so contacts can verify devices
  • Automatic device verification – devices automatically trust each other without reregistering
  • Biometric authentication for linking devices – fingerprint of facial recognition to link devices
  • Device list – a visible list of devices can be monitored for use and logged out of remotely.

is your data secure?

Sadly, the best security technology in the world often can’t protect you from your biggest security threat – your own end users.

Human error, whether it be malicious intent or naïveté isn’t always in your control but having an effective set of company security policies and an automatic data backup system means that you have a backup plan to access data in the event of a system failure or cyberattack. We ask you – whatsAppening with your security?

Mobile Health Apps Need Better Health to Reduce Cybersecurity Attacks

15 Apr

Mobile health apps are becoming more and more popular in modern medicine enabling hospitals to collect and share patient information on an anywhere-anytime basis.

Health apps also help to deliver a streamlined and beneficial process allowing hospitals and doctors to track and manage patient health and giving patients access to their medical data at the push of a button. The problem though is that many of these apps have been developed at high speed focussing more on innovation than security leaving the apps vulnerable to cyber-attacks.

why are cybercriminals targeting mobile health apps?

Mobile health apps amass detailed profiles of their users, making them a prime opportunity for cybercriminals to jump in and steal valuable user data. Some of the information includes an identification number, cell phone numbers, email addresses, banking details, and physical addresses. The personal information can be used to carry out identity theft, guess login details for accounts, and even make online purchases (especially if they encounter saved card details online) and there is big money in the ‘full medical record’.

Pair all the above sensitive personal data with vulnerable cybersecurity measures, and you have a big problem. Stored patient records make for a cybercriminal field day! Crime syndicates are quickly catching on to the fact that mobile health apps have inadequate data protection, which puts hospitals and patients in a precarious position. Measures need to be put in place swiftly to avoid significant repercussions.

authorisation and authentication

Authorisation as a step of security on these apps is not sufficient. Pairing authorisation with authentication may be the solution to the above problem.

Name and password authentication is no longer an adequate cybersecurity level, particularly with apps that store such a vast amount of personal data. App designers need to implement a further step of authentication as an added security element, which can be implemented in multiple ways.

One of the most common added security layers these days is a one-time pin (OTP) number that is sent to the users’ mobile device. Without the OTP pin, there is no access to the profile.

Avoiding user-only input and requiring a one-time pin generated from an external source is a simple yet effective solution to the problem. This simple step should reduce the number of cyberattacks on mobile health apps.

The issue of authorisation without authentication is not limited only to mobile health apps – it would seem to be a common security flaw in many apps. The concern with health apps, however, is that they contain far more personal data, making them a hot target for cyber-criminals as a “jackpot” of user data.

conclusion

Mobile Health Apps can save lives but there is no denying that cyberattacks are on the rise and these health apps are being targeted. It is up to both developers and hospitals to partner together and go the extra mile to ensure all users are sufficiently protected against possible cyberattacks. With the right crypto applications, end-users can ensure that they keep their data and privacy safe from cybercriminals.

Digital banking fraud is on the rise! What’s the solution?

4 Mar

Absa has recently warned the public that digital banking fraud is on the rise – and they are right!

To come up with a viable solution to the problem, we need to fully understand how the fraud is being committed. Simply put, social engineering is to blame.

Social engineering and data security

“Social engineering” in terms of data security is a process of using deception to manipulate people into sharing their confidential and sensitive information. This information is then used for fraudulent activities with phishing being one of the most prevalent forms of social engineering.

Absa has noticed that more customers are falling victim to the process and end up sharing their card PIN, One Time PIN (OTP), CVV (last 3 digits on the back of your card), online banking username and password with third parties that are posing as legitimate financial and banking institution employees. There was a whopping 64% increase in digital banking fraud in South Africa over 2018.

The problem is not merely data security

Your digital banking profile and the money that it represents are only as safe as your data is. Unfortunately, mid-2018, 4.5 billion consumer data records had been exposed in various types of data breaches, phishing attempts, and spam email.

The fact of the matter is that the problem is not simply limited to the level of security that a person has. For instance, a spam email containing compromising hyperlinks would be useless if it’s ignored. For that to happen, consumers need to be able to tell the difference between a spam email and a legitimate email.

Education is a part of the problem. Consumers need to be more aware of what is considered acceptable and secure correspondence, versus potentially risky communications via the internet, phone, and apps.

Absa’s advice to digital bankers

Ulrich Janse Van Rensburg, the Head of Fraud Strategy for Absa, has released useful tips for the public regarding safe digital banking. In summary, here are the pointers:

  • Never approve transactions via mobile banking apps if you are not personally transacting.
  • Only make use of reputable and safe banking systems such as the Absa (or other bank’s) Mobile Banking Application.
  • Never provide your personal details (PIN, password, CVV etc.) to anyone via the phone or email. A bank will never request these details from you on these platforms.

What can you do?

Consider removing your auto-saved banking data from your devices. One-touch sign in to digital banking apps on your mobile device can result in substantial financial losses, especially if you lose your phone. Avoid making use of new, unknown apps that require your banking details or credit card details. And you should also make sure that you change your passwords regularly.

Have you had a disastrous situation with a digital banking app? We’d love to hear your stories – good or bad!

Snatch and Grab Scams of Sensitive Data | Hackers 

25 Jul

Phone thieves snatching owners’ sensitive data

A new wave of cybercrime is sweeping SA – and this time it’s a hybrid of physical theft and personal data hacking.

Criminal gangs have been snatching smartphones and breaking into them to steal their owners’ personal information, including crucial banking details, using the very technology that’s supposed to keep the public safe.

Hackers turn police technology against innocent citizens

Data is a precious commodity in today’s society – even for criminal suspects. In recent years, law-enforcement organisations have developed technologies to break into criminals’ phones and retrieve information that could help them to prosecute crimes.

Unfortunately, weaknesses in the country’s criminal justice system have resulted in these technologies being leaked to hackers. As a result, criminals are now able to break into stolen phones and steal critical personal information, including:

  • Your home address
  • Your ID and passport numbers
  • Personal contact details of friends and family.
  • Online banking login details and access to banking apps.
  • Work-related financial information including credentials to gain access to company bank accounts.

The typical MO used by criminals to carry out this “double snatch and grab” crime is unfortunately all too familiar to many South Africans: criminals steal a smartphone, either by snatching the owner’s bag or briefcase, or in a mugging attempt.

The new and worrying part of the crime involves data theft in addition to the physical theft of the phone. Using stolen police technology, criminals can hack into your smartphone and help themselves to all the crucial information contained in it.

Once a device has been hacked, cybercriminals could have full access to your banking details, giving them the ability to drain your accounts and max out your credit cards.

Furthermore, it could be tricky to prove that these transactions were not authentic since they would be initiated from your device using your own credentials – unless you take quick action to prevent data theft from occurring on your stolen device.

How to protect yourself against the double snatch and grab scam

There are several ways that you can stay safe against the latest  wave of personal data theft .

  1. Activate face or fingerprint ID as an authentication method. This will require you to be present when the phone is used and may help to block access to your banking app.
  2. Opt for two-step authentication to an email address that’s not on your phone. By keeping the login details of the email address off your device, you’ll block criminals’ attempts to use it to authenticate their transactions.
  3. Report your phone missing as soon as it’s stolen. First, notify your bank and decouple your device from your online banking profile. Then let your mobile provider know and open a case with SAPS for insurance and fraud cover purposes.

Your data is only safe in one place: the cloud

Cybercriminals are always finding new ways to compromise your personal data. One of the best ways to keep it safe is by using secure cloud storage.

Browse our range of backup packages for businesses and families and take a hard line against cybercriminals today.

Simple Cybersecurity Measures that Work!

27 Nov

If you have been a victim of cybercrime, chances are that there was no serious plot to target you and your account specifically. By nature, cybercrime is an opportunistic business. This means that a hacker might come across your password or send out spans of emails and you’re the one who falls for it and…yes…clicks the link. The truth is that there are a few basic cybersecurity measures that you can take to ensure that you don’t become a victim.

Don’t Want to be Hacked? Make These Security Measures Your Online/Device Mantra!

These tips are for individuals as well as businesses, so listen up and take note!

Make your password strong and regularly update it

We could all stand to be a little more mysterious with our passwords. If you’re the type of person who uses the same password for all applications and accounts, STOP! Mix things up. Use an upper case letter, lower case letter, number, special character and you must avoid using anything that is easy to guess (think ID number, partner’s name, child’s name, pet’s name – you get it!).

Log out when you leave

If you access accounts on public devices or even work devices, always log out when you are finished. To be even more secure, you can clear the device history and cache so that you are certain the log in information will no longer be valid.

Get in the habit of doing regular encrypted data backups.

The cloud is there for a reason. Make sure that you don’t leave any sensitive information saved to your device. You can do a data backup and secure your information from hackers. We can help you with this at Soteria Cloud.

Password protect your network

This should be the first step in anyone’s cyber security strategy. It might seem like it’s “just your home Wi-Fi”, but you won’t be feeling the same when someone realises your network is unsecured and uses it to access personal information which can be used against you. Identity theft and fraud is a lot easier than you think. It’s all about protecting your personal information.

Password protect your devices

Ever lost a phone and wondered what would happen if it fell into the hands of the wrong person. With banking apps, Zapper and NFC functionality, your phone can be your worst enemy (when in the hands of a criminal, that is). Make sure that your protect your device with a secure password, just in case.

Get choosy with the apps you use

Apps are great. They’re fun and convenient. What happens when the app you are using is hacked? You guessed it! Your personal information is at risk. If you are going to download an app, make sure that it offers sufficient security and that the company or brand it is linked to offers protection against cybercrime too. You should also encrypt your most commonly used accounts.

Avoid “dodgy” emails and messages

If you don’t know where the email is coming from and it’s asking for personal information or requires you to click a link, avoid it! Phishing is a top cybercrime trick. Don’t know the email sender? Don’t open it!

These simple cyber security tips can help you avoid cybercrime victim status. Thwart the efforts of opportunistic cyber criminals with our help! Got any more security tips of your own to add? Share them with us!

Understand the Threats & Keep Your Mobile Workforce Secure

21 Aug

When was the last time you reviewed your business’s mobile security strategy or your own, personal mobile security, for that matter?

While most people are well informed about cybersecurity protection for their computers and laptops, mobile devices are often overlooked. As such they have become a soft target for infected apps, man-in-the-middle attacks, OS exploits, malicious links embedded in SMS’s and more.

A recent research survey revealed that most businesses have experienced at least one or more mobile cyber threats in the past year or so. When you delve into the plethora of opportunity on display for hackers, it’s no wonder mobile hacking is becoming increasingly prevalent across businesses.

So why are mobile devices such an easy target for hackers?

1. A simple lack of vigilance

Mobile devices nowadays are, quite simply, far too easy to hack into. Many owners of mobile devices neglect basic protection software, and if they do use this software, they are not vigilant enough about updates and applying essential security patches.

2. Increased opportunity

Almost 2.1 billion people today own a mobile phone – that’s an incredible amount of opportunity being presented on a silver platter to hackers across the globe. Basically, hackers rely on these large numbers to help execute and spread malicious, damaging malware campaigns.

3. Voicemail and voice notes

The increase in popularity of voice notes and leaving voicemail messages over the phone, packed with personal information, present a buffet of lower-hanging fruit for hackers. By hacking into someone’s phone, information such as mobile phone number can be poached and used to transfer to a new sim card. From here, the hacker now owns the phone number and can launch attacks on all types of personal accounts – including banking apps and more.

4. Greater impact

Hacking a mobile device can do far more harm than hacking a personal computer. This is because most people use banking apps via their mobile phone, as well as many businesses. Hackers can easily infect a mobile device with malware, produce a fake overlay page for your banking app, steal your login credentials and go to town.

Additionally, once cybercriminals have installed malware on your phone, they can use this access to intercept incoming calls and messages to bypass security protocol.

So, what is there to do to protect yourself and your business?

  • Make sure to use solutions which work to protect against mobile malware, prevent suspicious file downloads and block malicious websites.
  • Don’t rely on simple Mobile Device Management (MDM) or Enterprise Mobile Management (EMM) alone. This security is not robust enough and only provides simple solutions against unknown, yet highly intelligent malware systems.
  • Set up protections and policies which segregate business data and applications from personal use.
  • Make sure files are encrypted and only accessed by authorised users on mobile phones.

Finally, one of the best ways to secure a mobile device, whether for business or personal use, is to extend your policies and protections to the Cloud. It’s easy to fall into the simple way of thinking that on-premises cybersecurity is enough for your business. Malware protections needs to follow you and your employees wherever you go!

Laptop Security Tips | Security

29 Aug

Keeping your laptop secure  

There’s hardly a business in operation that doesn’t own numerous laptops and IOT devices. But what some business owners don’t consider is that mobile productivity devices – and laptops in particular – can be a major cybersecurity vulnerability.

If you and your team use company laptops, you need to take steps to secure them. Let’s have a look at the risks involved in managing your portable devices and how to mitigate them.

Your laptop is the door to your data – Keep it locked

Take a moment and consider just how much sensitive information there is on your work laptop. From email passwords to internet banking credentials and highly confidential company documents, you’d be guaranteed sleepless nights if your device was stolen.

Considering how much crucial information is stored on laptops we’re always worried when clients tell us that they haven’t secured their devices yet. Here are some ways you can keep your laptop safe from cybercriminals.

Location Finding

Setting up and enabling a location-finding service can be a big help if you ever lose your laptop, but it can also be a slight privacy risk. It’s a trade-off between how much you value your laptop vs your privacy as these location apps can also track you.

Passwords and encryption

If you haven’t set a password on your laptop yet, take a moment and get it done now. You’ll be taking one of the biggest steps on the journey to predicting your data.

In addition to a password, you’ll want to encrypt your hard drive and password protect important files so they can’t be read if someone steals your laptop or uses it without your permission.

Password protected screensaver

We all need to take a break from our laptops every now and again or get side-tracked by someone or something else happening around us, leaving our devices open and exposed to snoopers. To ensure that others don’t have access to your laptop make sure that you activate an automatic screensaver that requires a password to exit.

Screen guards

Have you ever sat down on an airplane or at Starbucks and felt a strange presence, only to find the person next to you reading your laptop screen? Your typical screen reader may just be an innocent, busybody, but guarding your personal information is still hugely important.

A laptop screen guard makes it difficult to read your screen from the side, helping to endure data privacy when you’re traveling or working remotely.

Virtual private network (VPN)

Public Wi-Fi spots are everywhere and unless you hotspot your own mobile device or carry a router with you your security can be easily compromised. Data traffic on public connections is usually not encrypted and you never know who might be monitoring the connection you are linked up to.

Here are some of the things you can do to stay safe when a public connection is your only option.

  • Use a VPN that encrypts your data
  • Disable Wi-Fi auto connect
  • Don’t login to sites that are password protected such as online banking, social media etc

Data Backup

It’s always a smart idea to be ready for the worst-case scenario. If your laptop is stolen, you need a place to store and retrieve your business data. That place is the cloud.

Laptop Security and Cloud Storage

Soteria’s range of secure cloud storage solutions for businesses and households offer fully encrypted backup to ensure the safety of your files. Browse our packages today to find the one that suits your needs.

Beware of ChaptGPT False Promises

30 May

ChatGPT False Promises – Is AI a Hacker’s Dream Come True?

Artificial intelligence has taken a huge leap forward recently with ChatGPT showing off its ability to write text that resembles human output. Many companies are experimenting with this technology to simplify their business communication processes – and as usual, hackers aren’t far behind.

While ChatGPT attracts new fans and foes around the world, cybercriminals are relying on the hype around the new generation of AI to lure unsuspecting internet users into downloading malware and ransomware promising AI capabilities.

“Chat GPT enabled software” is likely fake  – and dangerous

Next time you’re on social media or browsing the web, you may come across ads for an app claiming to have a “ChatGPT functionality” that can significantly boost your productivity.

At present, the only ways you can use ChatGPT are by visiting the official website of its developer Open AI or by using the Microsoft Bing search engine.

Other apps that claim to be powered by ChatGPT have been found to be malicious software developed by hackers in order to spread malware or steal user data.

Once installed on your smartphone, these apps could start searching your files for personal information including internet banking login details.

Your smartphone operating system could also be hijacked and used to mine cryptocurrency or carry out acts of cybercrime without your knowledge. According to CIS Guy Rosen, “From a bad actor’s perspective, ChatGPT is the new crypto”.

If you notice anything unusual about your phone – including the following – you’ll want to take action right away.

  • Your smart phone is suddenly running a lot slower than before or isn’t responsive.
  • Your phone overheats frequently, or the battery drains extremely quickly despite having been charged recently.
  • Your data usage starts to spike to levels that you’ve never seen before – even though your usage is similar to previous months.

How to safeguard your mobile device against cyberattacks

If you suspect that your device has been hacked or that malicious software is running in the background, there’s no time to lose. Disconnecting your phone from the internet will stop the flow of data that hackers may be using to steal your sensitive information.

Installing updated antivirus software and running a scan immediately should help you detect malware or ransomware. For a 100% privacy sweep, you could also wipe the device and restore factory settings.

Keep your data safe with Soteria

Cloud-based encrypted data storage is your best defence against cybercriminals. To secure your information, browse our range of secure backup solutions today.

Image credit: https://pixabay.com/photos/cyber-security-smartphone-cell-phone-2765707/

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