Alte Jorgensen, Chief Technology Officer at Sanlam Fintech, a cluster of Sanlam, provides top tips on how to stay ahead of cyber criminals this Cybersecurity Awareness Month

It often starts with something small: a WhatsApp from a number you don’t recognise, an email that looks like it’s from your bank, or a limited-time offer that seems too good to ignore. Within minutes, a single click or slip of the tongue can cost you thousands. Collectively, cybercrime is costing South Africa more than R2 billion every year.

Interpol has warned that the country is an easy target for cybercriminals and the scams are only getting more sophisticated. While financial institutions are investing heavily in fraud detection systems and advanced security tools to protect their customers, technology alone is not enough.

Consumers themselves need to remain vigilant and take proactive steps to protect their information. That’s what Cybersecurity Awareness Month is all about: raising awareness and encouraging safer online practices. For South Africans, it’s a necessary reminder that the most effective defence against cybercrime often starts with individual behaviour.

So, in the spirit of creating awareness, here are five pro tips to help fintech users stay one step ahead of cybercriminals:

1.      Be selfish with your personal data

Just because a company has a slick ad campaign and an attractive offer doesn’t mean it can be trusted with your personal information. Once you’ve handed over your data, you need assurance that it will be protected. Choosing a reputable brand like Sanlam – which has a lot to lose if we get it wrong – could be a safer bet compared to a new startup with limited track record.

2.      Use multi-factor authentication

Passwords alone are no longer enough. Multi-factor authentication (MFA) adds a vital extra layer of security. Even if your password is stolen or compromised, criminals would still need access to your device or one-time password to break in. Better yet, enable biometric security such as fingerprints or facial recognition wherever possible. This makes it far more difficult for cybercriminals to impersonate you and gain control of your accounts.

3.      Don’t be lazy when it comes to passwords

One of the most common ways criminals gain access to multiple accounts is through password reuse. If the password you use on one site is leaked, every account where you reused it is suddenly at risk. Instead, make use of a password manager. These tools generate and store unique, complex passwords for each of your accounts, so you only need to remember one master password. The extra effort is worth the peace of mind.

4.      Respond with caution

Always think twice before responding to emails, WhatsApp messages or phone calls. Cybercriminals use phishing to trick you into disclosing your passwords, making payments, or giving away sensitive information. If the message is too good to be true, or there’s sudden urgency around an unusual request, it’s almost certainly a scam. Report it to the customer care or fraud department immediately.

5.      Protect your card details

Never share your card numbers or PIN codes, and don’t leave them written down where they can be found. Where possible, use virtual cards when shopping online – because the CVV number changes often, virtual cards are far harder to spoof and offer greater protection against fraud.

The reality is that cybercrime in South Africa is not going away any time soon. If anything, it is becoming more advanced. But by making small adjustments to your daily habits and staying alert, you can significantly reduce your risk. At the end of the day, your personal vigilance is the most powerful weapon you have.

Concluding on this is Tshepo Mogotsi, Head of Communications at Sanlam Fintech, who says that “as a cluster within the Sanlam Group, we are committed to educating and protecting our clients from cybercrime. Cybersecurity Awareness Month is a good reminder that the more informed we are, the better equipped we become to prevent, detect, and respond to threats to harbour a safer digital experience for all.”

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