Online fraud is growing at an alarming rate, unsuspecting consumers are being targeted with invoice fraud, fake adverts and refund scams - just to mention a few, according to security specialist and J2 Software CEO John Mc Loughlin
Loughlin stated that the South African Banking Risk Information Centre (SABRIC)’s inaugural digital banking crime statistics showed how the advent of digital technology has seen criminals exploit digital platforms.
According to the research, there were 13,438 incidents in banking apps, online banking and mobile banking that cost the industry more than US$17.6mn in gross losses in 2017 and incidents in the first eight months of 2018 showed an astonishing 64 per cent increase.
J2 Software launched J2 Home Secure and J2 SME Secure for smaller enterprises, aimed at addressing the fact that attacks are increasing and always evolving. It provides enterprise-grade managed cybersecurity for home users and SMEs.
The software’s provides endpoint protection, Internet security and offers protection up to US$1765 for Home Secure and US$7060 for SME Secure, in the event of online fraud and theft where one suffers a direct financial loss.
J2 Home Secure offers protection against EFT fraud, including the transfer of funds to third parties where payee details have been manipulated; transactions where payee identity is stolen, falsified, fraudulently altered.
It also offers protection against EFT duping, EFT or deposit scam using altered POPs, deposit slips, etc.
J2 Home Secure protects against unauthorised transfer of funds. This means funds transferred from an account by an unauthorised person and also includes fraudulent use of a name, address, ID, bank account, etc.
J2 provides affordable layered security options to ensure that clients have securely backed up important files, encrypted sensitive data with the added advantage of having a single point of contact to help them set up their Office 365 at home.
