Kaspersky researchers have reported on a sharp increase in fraudulent activities around e-commerce during an active sales period in Asian countries – Singles’ Day (November 11). While Singles’ Day originates from China, it is now relevant to users of e-marketplaces all over the world. Pre-holiday promos and sales on global Asian platforms are welcomed internationally, and scammers are now targeting users in different languages.
Our researchers detected a spike in financial phishing attacks before the big Singles’ Day sale in 2018. As can be seen from the graph below, the average number of financial phishing attacks fluctuated at around 350,000 per day in October. Then, a couple of days before November 11, 2018, the spike in attacks reached more than 950,000. The researchers are also witnessing similar spam and phishing attacks at the moment and urge everyone to be careful with their purchases.
Apart from that, Kaspersky researchers have found some threats in mobile apps that were disguised as popular e-commerce platforms. The share of shops that have special offers for Singles’ Day is traditionally high. In 2019, 83% of the online shops were pretending to be Asian marketplaces, while in 2018 the number reached 93%.
“While Single’s Day is the best time to shop, as discounts and promotions are well-advertised to users, this is also a peak time for phishers and spammers. Fraudsters become more active during this period. In the pursuit of great discounts and limited offers, people lose their vigilance and are less likely to distinguish a phishing website from a legitimate one. However, such things should not be an obstacle for those hunting the best offers. Consumers have nothing to worry about if they follow the rules of basic cybersecurity hygiene, so good luck to everyone in finding the greatest deals of the year,” comments Andrey Kostin, a security researcher at Kaspersky.
To make sure your November 11 is not marred by spam and phishing, follow this simple advice:
- If you receive a link to a great offer via email, make sure to check the embedded hyperlink – sometimes it may differ from the visible one. If it does, access the deal page directly through the legitimate website;
- Only make purchases through official marketplaces and pay attention to the web addresses if you are redirected to them from other landing pages. If they differ from the official retailer, consider checking the offer you were redirected to by looking for it on the official web page;
- Use a security solution with behaviour-based anti-phishing technologies, such as Kaspersky Security Cloud or Kaspersky Total Security, which will notify you if you are trying to visit a phishing web page;
- Never use the same password for several websites or services, because if one is stolen, all your accounts will be made vulnerable. To create strong hack-proof passwords without having to face the struggle of remembering them, use password managers, such as Kaspersky Password Manager.
Meet the accountant of the future
The accountant of the future will need a new set of skills, writes ARTHUR GOLDSTUCK, as he meets both the local users and the global creators of Xero accounting software
Meet Buchule and Sivenathi Sibaca. They are not only partners in marriage, but also in a thriving accounting business. Buchule and Sivenathi are, respectively, chief executive officer and chief financial officer of SMTAX, which focuses on tax and accounting services for small businesses in the Western Cape, but includes the likes of Absa and Old Mutual among its clients. It employs 18 people and has 4,500 individual and business customers.
That’s not what makes the outfit remarkable. The startling feature of this business is that it has been structured to be a model accounting firm of the next decade. Even more remarkable is the fact that the couple both hail from rural areas where thoughts of the future tend to be about survival rather than blazing new trails.
Last week, they made their first trip out of the country, to attend Xerocon London 2019. This 2-day conference, hosted by the world’s fastest growing accounting software maker, Xero, attracted more than 3,000 delegates from the United Kingdom, Europe Middle East and Africa. A total of 57 Xero partners and users, mostly from accounting practices or suppliers to accountants, made the trek from South Africa.
“It was really about seeing how other accountants on other continents operate in terms of how they think and where their headspace is at,” Buchule told us during Xerocon. “Also, being our first time out of the country, it was to see the culture of other small businesses outside of South Africa.
“London’s quite different in that regard, but it’s been a really a great learning curve, and we were pleasantly surprised to find elements that look like South Africa, where we can say, at least you’re doing something right. The banking environment is quite unique, as it’s been a really good learning curve in terms of where banking might go to in the future of South Africa if they follow the same trend.”
Buchule comes from the “dusty streets” of Uitenhage in the Eastern Cape, while Sivenathi grew up on a farm in a deep rural area near Mthatha.
“I had no idea about technology or the rest of the world or how it could impact the economy in general,” she said. The two met at the University of Cape Town, where she was studying to be an actuary, and he completed a Masters degree in tax. She decided to put actuarial science behind her, however, when the opportunity arose to join Buchule’s business. But her skills helped transform the business.
Said Buchule: “When Sivenathi came on board we did the modeling of the business, and we said that in order to in order to automate the whole bookkeeping journey, we would need to turn closer and closer towards ‘x’, meaning fully automated bookkeeping. We looked at the journey of how long it will it take for us to get to time ‘x’. And then we said, OK, once we get there, what then?
“It was a big realization that when we do get to time ‘x’, the most important thing will be the human touch. That will be the differentiator. So we then spent our time developing that.”
Visit the next page to read more about the Xerocon 2019 event.
Takealot reveals startling numbers for Black Friday
Takealot has revealed startling numbers for expected bumper sales this holiday season, beginning next week, and peaking with Black Friday.
South Africa’s leading ecommerce group expects to ship at least one order every second, with roughly 10,000 boxes leaving their warehouses every hour, this shopping season.
Black Friday was first introduced to South Africa by Takealot in 2012, and has since become an important day in South Africa’s annual retail calendar. It has been a record-breaker for both retailers in the Takealot Group: Takealot and Superbalist. Takealot’s Black Friday gross merchandise value (GMV) grew 125% from 2017 to 2018, with orders up 127%. Superbalist’s Black Friday GMV has grown on average around 50%. This year, CEO Kim Reid is anticipating the biggest Black Friday yet, a culmination of months of tech and operational business-wide focus to prepare for increased predicted traffic and shopper volumes.
ABSA bank estimates that two out of three South Africans participated in Black Friday sales in 2018. And FNB reports in 2018, Black Friday transaction volumes grew by 16% compared with 2017 and anticipates a 15% increase in transactions over the sales period in 2019.
Successfully meeting this massive growth in orders has been a key focus for the Takealot Group. CEO Kim Reid says throughout the year they have been working to scale operations across multiple areas within the business. “After expanding our Johannesburg distribution centre (DC), our warehouse storage space now stands at 75 000m2. We house over 3.7 million items at any given time, and have opened 47 Takealot Pickup Points in the Eastern Cape, Western Cape, Gauteng, Kwa-Zulu Natal, Limpopo, Free State and Mpumalanga for order collections and returns, with more to open in the coming months.”
Takealot Delivery Team delivers to more South African homes than any other courier company in the country. On a monthly basis, they carry out over 1.6-million deliveries, with this number expected to increase to over 2-million during the shopping season. More than 4,500 drivers currently deliver for the Takealot Delivery Team; a number that is growing every month. The Takealot group anticipates they’ll travel over 4,000 000km from Black Friday until 24 December. “To put that in context, it is the equivalent of circumnavigating the globe over 100 times” says Reid.
Takealot.com’s Blue Dot Sale is a five day sale period which starts on Black Friday (29 November) and sees a range of new deals throughout the weekend as well as on Cyber Monday (2 December) and Takealot Tuesday (3 December), with up to 60% off thousands of items. For the first time, takealot.com will also be giving their shoppers early access to some of its Black Friday deals, starting on 24 November. Fresh new app-only deals will be added daily.
The Superbalist Showdown will run from 29 November to 3 December, with up to 70% off more than 15 000+ items. Superbalist shoppers will also have early access to Black Friday deals on selected days throughout November, with Superbalist’s Black Friday Spoilers – 24 hours to shop deals that they say won’t be beaten on Black Friday.