Frank Abagnale, a reformed fraudster and now an FBI consultant, stated at the Experian’s Insight Conference on Tuesday that cyber criminals are taking notice of South Africa’s increasing online presence. He revealed that the damages of cyber crime on the economy every year reaches up to hundreds of billions of dollars globally. According to Abagnale, the root of security breaches is human error. In addition, Michelle Beetar, an Experian MD, stated that according to a report by the company, as much as R1 billion has been lost from cases of identity theft in South Africa alone. Read the entire story on Moneyweb.

Source: Moneyweb