Sanlam
Is Cybersecurity as Necessary as Electricity?
Sourced from Travellers Cybersecurity has become as much a business necessity as having electricity says South African financial services and insurance company, Sanlam. Threat actors are constantly evolving and relentlessly hunting for vulnerabilities, cybercrime has become so profitable that exploitation is their business priority, and regulation is increasingly complex to navigate and manage. For Sanlam, cybersecurity has always been more than plugging holes and filling gaps, it’s a priority that has to be embedded within business foundations while managing cost, growth, customer experience, data analytics and regulatory controls. “Developing a comprehensive and holistic cybersecurity solution is a mandate for us, one that we must meet to ensure customer, stakeholder and industry trust. ...
Major banks moved vast sums of illicit money – investigation
Massive sums of allegedly dirty money have flowed for years through some of the world’s largest banking institutions, said an international journalism investigation published Sunday, which denounced shortcomings in sector regulations. “Profits from deadly drug wars, fortunes embezzled from developing countries, and hard-earned savings stolen in a Ponzi scheme were all allowed to flow into and out of these financial institutions, despite warnings from the banks’ own employees,” according to the probe from Buzzfeed News and the International Consortium of Investigative Journalists (ICIJ). The investigation, which was led by 108 international media outlets from 88 different countries, is based on thousands of suspicious activity reports (SARs) submitted to the US Treasury Department’s financi...
