Market data including bonds and fuel prices
The Institute of Race Relations should rename itself or return to work that creates greater understanding of the racial groups
Companies to be compelled to reveal the wage differentials between executives and workers
While it has differences with the party, it is a better option as the DA will scrap ‘progressive’ labour laws
The gold producer wishes Van den Bergh a speedy recovery and says it has plans in place to ensure business continuity
Holding on to funds not an investor strike but rather a barometer of reaction to excessive insecurity levels, say Raymond Parsons and Waldo Krugell
Mudiwa Gavaza is joined by Nontando Mthethwa of the Allan Gray Orbis Foundation to discuss issues faced by women-led businesses in SA
Voters were unhappy about the early election and the government’s handling of Covid-19 pandemic
Men’s and women’s tours cancelled three days after New Zealand abandoned their trip
The electric superbike aims to break 400km/h barrier with its unique aerodynamic concept
As more organisations get accustomed to transacting or conducting business online, there is a proportionate increase in e-commerce scams targeting vulnerable businesses.
These scams often involve a business-to-business (B2B) operator, manufacturer or supplier claiming to provide lucrative goods and services at competitive or massively discounted prices, luring businesses to pay upfront, with no intention to deliver.
Roshan Jelal of FNB Commercial Risk says as much as digitalisation drives efficiencies and streamlines processes, it also presents opportunities for cybercriminals to exploit online retailers, businesses and shoppers who are not vigilant to these threats.
Businesses are urged to invest in preventive measures to protect themselves by ensuring they have conducted the necessary checks before paying for goods and services. Payment should only be made once there is certainty that the business is dealing with a reputable supplier.
When engaging with e-commerce cybercriminals, the business may reveal its bank card details, sensitive personal information and emails, which can potentially expose it to future risk.   
Jelal says businesses should consider these checks when dealing with new suppliers/businesses online: 
“Banks have developed and deployed measures to monitor transactions and behavioural models to proactively identify spurious transactions, and will continue to innovate in terms of changing modus operandi. However, these measures and models will be more effective if businesses remain alert and continuously protect and educate themselves, given the constantly evolving fraud landscape,” says Jelal. 
For more information, visit the FNB website.
This article was paid for by FNB.
Would you like to comment on this article or view other readers’ comments?
Register (it’s quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.
Read more at the SA government’s online coronavirus portal or use the 24-hour public hotline: 0800 029 999
© 2021 Arena Holdings. All rights reserved.
Use of this site constitutes acceptance of our Terms & Conditions and Privacy Policy.

source