The rapid digitalisation of the world’s economy brings with it the potential for economic crime to cripple businesses in highly disruptive and devastating ways.
A recent 2018 PwC Global Economic Crime and Fraud Survey found that a quarter of South African businesses believe that cybercrime will be the most disruptive economic crime to affect their organisations in the next two years. This statistic becomes even more startling when one considers that according to the findings of the PwC report, South Africa has the dubious honour of having the highest level of reported economic crime in the world, with a staggering 77% of companies being affected.
Junaid Amra, Partner in PwC’s Forensic Services Division, says that when it comes to combating fraud and economic crime, technology can become a double-edged sword. “In the never-ending efforts to modernise both the business and the fraud-detecting capabilities of the business, technology can become a business protector, but also a threat if the risks associated with technology deployment are not properly assessed,” he says.
He points out a key finding in the global survey which says technology has become so pervasive across every business process that how a company chooses to leverage this technology to combat crime is central to the customer experience. Amra further stated, “Over a fifth of all customers said business technology to predict fraud was producing too many false positives and these false alarms become invasive for the customer.”
The survey found that companies are finding it increasingly expensive to invest in technology. “This being said, South Africa, and Africa in general, are investing in advanced technologies such as artificial intelligence at a faster rate than the rest of the world. This may be to play catch-up with the rest of the world in efforts to combat economic crime, but it also signals the seriousness with which cybercrime is being approached.”
In addition to the customer experience being directly affected by the use of technology, criminals can and do use the company’s own technology to commit their crimes.
With new digital products, criminals are given new attack vectors, making the job of stopping these attacks so much harder. “In the past, companies may well have used good old-fashioned business-to-business processes to bring a product to market – resellers, distributors and retailers. However, technology has meant that there are innovative business-to-consumer platforms providing a wider attack surface for cyber criminals,” explains Amra.
In 2017, a single ransomware attack crippled the United Kingdom’s National Health Service, not only threatening lives, but also crippling hundreds of thousands of computers around the world. This is just one example from many that can be cited. The potential for harm is frightening as the technical sophistication of external fraudsters and attack surfaces within businesses continue to grow side by side.
It is for this reason, says Amra, that more than a quarter of respondents to the survey felt that cyber criminals would attack them in the next two years.
Amra concludes that the survey found that the responsibility of dealing with economic crime rests with the C-suite. Based on incidents we’ve assisted clients with organisations are falling into two categories, those who have executive-led initiatives and those who are crisis driven i.e. moving from one crisis to the next without a clear cybersecurity strategy supported by the C-suite. It goes without saying that organisations with executive-led initiatives are faring much better when faced with cyber attacks. From a steering, strategic and reputational point of view, business leaders such as the CEO are finding that the buck stops with them in the fight against cyber criminals.
Low-cost wireless sport earphones get a kickstart
Wireless earphone brands are common, but not crowdfunded brands. BRYAN TURNER takes the K Sport Wireless for a run.
As wireless technology becomes better, Bluetooth earphones have become popular in the consumer market. KuaiFit aspires to make them even more accessible to more people through a cheaper, quality product, by selling the K Sport Wireless Earphones directly from its Kickstarter page
KuaiFit has an app by the same name which offers voice-guided personal training services in almost every type of exercise, from cardio to weight-lifting. A vast range of connectivity to third-party sensors is available, like heart rate sensors and GPS devices, which work well with guided coaching.
The app starts off with selecting a fitness level: beginner, intermediate and advanced. Thereafter, one has the ability to connect with real personal trainers via a subscription to its paid service. The subscription comes free for 6 months with the earphones, and R30 per month thereafter.
The box includes a manual, a USB to two USB Type B connectors, different sized soft plastic eartips and the two earphone units. Each earphone is wireless and connects to the other independently of wires. This puts the K Sport Wireless in the realm of the Apple Earpods in terms of connection style.
The earphones are just over 2cm wide and 2cm high. The set is black with a light blue KuaiFit logo on the earphone’s button.
The button functions as an on/off switch when long-pressed and a play/pause button when quick-pressed. The dual-button set-up is convenient in everyday use, allowing for playback control depending on which hand is free. Two connectivity modes are available, single earphone mode or dual earphone mode. The dual earphone mode intelligently connects the second earphone and syncs stereo audio a few seconds after powering on.
In terms of connectivity, the earphones are Bluetooth 4.1 with a massive 10-meter range, provided there are no obstacles between the device and the earphones. While it’s not Bluetooth 5, it still falls into the Bluetooth Low Energy connection category, meaning that the smartphone’s battery won’t be drastically affected by a consistent connection to the earphones. The batteries within the earphones aren’t specifically listed but last anywhere between 3 and 6 hours, depending on the mode.
Audio quality is surprisingly good for earphones at this price point. The headset style is restricted to in-ear due to its small design and probable usage in movement-intensive activities. As a result, one has to be very careful how one puts these earphones, in because bass has the potential of getting reduced from an incorrect in-ear placement. In-ear earphones are usually notorious for ear discomfort and suction pain after extended usage. These earphones are one of the very few in this price range that are comfortable and don’t cause discomfort. The good quality of the soft plastic ear tip is definitely a factor in the high level of comfort of the in-ear earphone experience.
Overall, the K Sport Wireless earphones are great considering the sound quality and the low price: US$30 on Kickstarter.
Find them on Kickstarter here.
Taxify enters Google Maps
A recent update to Taxify now uses Google Maps which allows users to identify their drivers, find public transport and search for billing options.
People planning their travel routes using Google Maps will now see a Taxify icon in the app, in addition to the familiar car, public transport, walking and billing options.
Taxify started operating in South Africa in 2016 and as of October 2018 operates in seven South African cities – Johannesburg, Ekurhuleni, Tshwane, Cape Town, Durban, Port Elizabeth and Polokwane.
Once riders have searched for their destination and asked the app for directions, Google Maps shares the proximity of cars on the Taxify platform, as well as an estimated fare for the trip.
If users see that taking the Taxify option is their best bet, they can simply tap on the ‘Open app’ icon, to complete the process of booking the ride. Customers without the app on their device will be prompted to install Taxify first.
This integration makes it possible for users to evaluate which of the private, public or e-hailing modes of transport are most time-efficient and cost-effective.
“This integration with Google Maps makes it so much easier for users to choose the best way to move around their city,” says Gareth Taylor, Taxify’s country manager for South Africa. “They’ll have quick comparisons between estimated arrival times for the different modes of transport, as well as fares they can expect to pay, which will help save both time and money,” he added.
Taxify rides in Google Maps are rolling out globally today and will be available in more than 15 countries, with South Africa being one of the first countries to benefit from this convenient service.