Payment Fraud
What Happens When Cybercriminals Impersonate CEOs?
Image sourced from Feed Navigator. Traditional payment fraud has been rife for some time, where the cybercriminal impersonates the CEO, or other senior members of staff, to convince the finance department to make an urgent payment to either a new supplier or update their bank details. Now over the past month, there has been an increase in an evolved method of change of bank details or payment fraud cyber-attack. This new trend involves an internal change of bank details, mostly for the CEO. The change of bank details fraud uses fake banking confirmation letters and the trust of finance people to update an existing supplier’s details. The growing number of successful attacks have proven to be very costly to businesses of all sizes. Owing to this, many businesses have now implemented stronge...
Offline Device Locking: Protect Your Financed Devices against Non-payment with NuovoPay
Sourced from Travellers With the advent of 4G technology and the promising 5G technology, smartphones have offered people a gateway to enter the digital economy and get socio-economic benefits. According to Statista, in 2020 global smartphone unit sales for end-users were 1.38 billion. This shows a strong demand for smartphones, which is largely driven by consumers from developed countries. The consumer in developed countries has easy access to smartphone finance, affordable loans, alternative forms of credit scoring, etc. This necessarily does not hold true for certain emerging markets such as Sub-Saharan Africa or South Asia. According to Newzoo Global Mobile Market Report 2018, Smartphone penetration in South Africa was 35.5%, Vietnam was 37.7%, Indonesia was 27.4% as compared to 83% an...
