Harold van Graan, chief revenue officer, Solid8 Technologies. Let’s kick off with an obvious question, namely: what is online fraud? Fraud is variously defined as a deception or misrepresentation; a perversion of truth to convince someone to part with something of value or surrender a legal right. Online fraud encompasses both financial fraud and identity…
Prembly, a Nigeria-based digital security and identity verification company, launched FraudLens, an open-source fraud intelligence platform designed to help financial institutions and digital businesses detect and prevent fraud. The platform aggregates fraud data from identity verification checks and reported incidents across businesses that use Prembly’s technology. FraudLens begins with data from Nigeria and aims to…
Orca Fraud has raised $2.35 million in seed funding to expand its real-time fraud monitoring platform across Africa and other emerging markets. The round was led by Norrsken22 with participation from OneDayYes, Enza Capital and CV VC Africa. Founded by Thalia Pillay and Carla Wilby, the company provides software that monitors financial transactions in real…
An appellate court in Hong Kong reversed fraud convictions against former media tycoon Jimmy Lai. It was a rare victory for the prominent pro-democracy activist, who is a fierce critic of Beijing and has faced a litany of legal battles. Lai, 78, an outspoken critic of China’s ruling Communist Party who founded the now-defunct Apple…
Finance minister Enoch Godongwana. To enhance cross-government bulk purchasing systems designed to save costs, the state has allocated R285.3 million over the medium-term. This process will start with the modernisation of the government payroll system, according to insights from National Treasury’s 2026 Budget Review document. The high-level document is released in tandem with the 2026…
Jason Lane-Sellers, director of fraud and identity (EMEA) at LexisNexis Risk Solutions. The dark web is lowering the barrier to entry for fraud, enabling individuals with sufficient IT skills to access tools and expertise to target consumers and businesses. This is according to LexisNexis Risk Solutions in its report: “Fraud for sale: Untangling the dark…
No, helping strangers use their smartphones will not expose you to ‘AI biometric identity fraud’ IN SHORT: Warnings that strangers asking for help using a smartphone may actually be scammers conducting “AI biometric identity fraud” are just scaremongering. Even if well-intentioned, these warnings misrepresent how biometric security and impersonation scams actually work. “STOP HELPING STRANGERS…
The author, Entersekt’s Andries Maritz Rather than new types of fraud, what we’re seeing in the banking sector is a step change in how adaptable, realistic and efficient existing attack patterns have become. Bots can learn, adapt and personalise continuously once they’re interacting with live systems – and the implications for customer exposure are serious….
‘Please Call Me’ inventor Nkosana Makate. ‘Please Call Me’ creator Nkosana Makate says Black Rock Mining’s claim that he owes it money is fraudulent, and there is no basis for arbitration to secure 40% of his settlement with Vodacom, South Africa’s second-largest mobile operator. In December, British Virgin Islands-registered Black Rock Mining lost its battle…
Bonolo Sebolai, head of fraud at TymeBank. The Remote Access Trojan (RAT) attack is one of the fastest growing and most dangerous scams targeting South African consumers, warns Bonolo Sebolai, head of fraud at TymeBank. A RAT is malicious software that allows a fraudster to remotely control a person’s phone or computer. According to TymeBank,…
