DON ’ T BE A VICTIM : 10 TIPS TO PROTECT YOUR PASSWORD
PASSWORDS ARE THE GATEKEEPERS OF YOUR DIGITAL IDENTITY , ALLOWING YOU TO TRANSACT , INTERACT , WORK , AND CONDUCT OTHER VITAL ACTIVITIES . PASSWORDS ARE ALSO , HOWEVER , A GATEWAY FOR CYBERCRIMINALS TO ACCESS YOUR SENSITIVE PERSONAL INFORMATION . TO RAISE AWARENESS OF THESE DANGERS , AND PROMOTE BETTER PASSWORD HABITS , THURSDAY 2 MAY HAS BEEN DECLARED WORLD PASSWORD DAY . SARAH NICHOLSON , OPERATIONS MANAGER OF JUSTMONEY . CO . ZA , A PLATFORM THAT HELPS SOUTH AFRICANS MAKE GOOD MONEY CHOICES , PROVIDES EXAMPLES OF WHAT CAN GO WRONG IF PASSWORDS ARE COMPROMISED , AND OUTLINES SOME EFFECTIVE MEASURES FOR PROTECTING YOURSELF . WHAT CAN GO WRONG ?
• FINANCIAL ACCOUNTS : CRIMINALS CAN MAKE UNAUTHORISED TRANSACTIONS , TRANSFER FUNDS , OR STEAL SENSITIVE FINANCIAL INFORMATION FROM BANK , INVESTMENT , OR CREDIT CARD ACCOUNTS .
• EMAIL ACCOUNTS : PERSONAL AND PROFESSIONAL CORRESPONDENCE MAY REVEAL SENSITIVE DETAILS . FURTHER , SINCE PASSWORD RESET LINKS ARE OFTEN SENT VIA EMAIL , CRIMINALS COULD OBTAIN PASSWORDS FOR OTHER ACCOUNTS , TOO .
• SOCIAL MEDIA ACCOUNTS : YOU COULD BE LEFT VULNERABLE TO IMPERSONATION , THE POSTING OF MALICIOUS CONTENT ON YOUR ACCOUNTS , AND IDENTITY THEFT .
• ONLINE SHOPPING ACCOUNTS : FRAUDULENT PURCHASES CAN BE MADE USING YOUR STORED PAYMENT INFORMATION .
• WORK ACCOUNTS : CRIMINALS MAY GAIN ACCESS TO SENSITIVE COMPANY INFORMATION , AND COMPROMISE THE ORGANISATION ’ S SYSTEMS .
• CLOUD STORAGE : ACCESS TO CLOUD STORAGE ACCOUNTS SUCH AS GOOGLE DRIVE OR DROPBOX COULD EXPOSE PERSONAL DOCUMENTS , PHOTOS , AND OTHER STORED FILES . SOBERING STATISTICS SOUTH AFRICA EXPERIENCED AN ALARMING 36 % SURGE IN REPORTED INCIDENTS OF ONLINE BANKING FRAUD IN 2022 , ACCORDING TO THE SOUTH AFRICAN BANKING RISK INFORMATION CENTRE ’ S 2022 SABRIC ANNUAL CRIME STATISTICS REPORT . FINANCIAL LOSSES PER ONLINE BANKING FRAUD INCIDENT SOARED , WITH A 9 % INCREASE IN 2022 FROM THE PREVIOUS YEAR . THE COUNCIL FOR SCIENTIFIC AND INDUSTRIAL RESEARCH ( CSIR ) ESTIMATES THE IMPACT OF CYBERCRIME ON THE SOUTH AFRICAN ECONOMY TO BE R2.2BN A YEAR . IN AN INFORMATION SESSION HOSTED IN APRIL 2023 , BILLY PETZER , RESEARCH GROUP LEADER : CYBERSECURITY SYSTEMS ,