Banks and specialised deposit-taking institutions (SDIs) have been urged to invest in setting up strong cybersecurity systems to help combat cyber fraud and reduce financial losses. Mrs. Ursula Owusu-Ekuful, Minister of Communications and Digitalisation, who gave the advice, also encouraged them to invest in requisite digital forensic capabilities to collect, preserve,…
Law enforcement has detained a suspect believed to be a key member of the OPERA1ER cybercrime group, which has targeted mobile banking services and financial institutions in malware, phishing, and Business Email Compromise (BEC) campaigns.
Although there's a recognition of the need for more stringent cyber security systems, a shortage of funds and skilled tech workforce in SA can impede efforts, says SecurityHQ.