March 28, 2018
You've been stolen

You’ve been stolen

So, you thought you were you? You aren’t. You’re him. And her. And the guy who bought that new Xbox you never used.   Towards the end of 2017, Troy Hunter, well-known security researcher and the creator of Have I Been Pwned, discovered that the personal details of more than 75 million South Africans had been leaked to the internet. This massive database came from the web server of a company called Jigsaw Holdings, and within it lay the ID numbers, contact details, addresses, and income estimates of every single one of these 75 million people. He found the identity thief’s equivalent of an oasis in the desert. Here lay […]
March 23, 2018

Small businesses set to be the biggest loser if land grab without compensation becomes commonplace

Many South Africans believe that land grabs will only directly impact those whose land is expropriated if land grabs without compensation become commonplace. According to Frank Knight, CEO of Debtsource – a specialist credit management company – the impact of such land grabs will however be far deeper and more damaging to our economy than many appreciate. “One of the contributing reasons why Africa has been slow to step out of poverty, is because property rights have not been respected across many parts of the continent” says Knight. He explains that African property owners, such as small farmers that own subsistence-living land in Africa, are unable to use their property […]
March 23, 2018
cash flow strategy

Solid strategies ensure robust cash flows

Advice is to build your business on quality debtors While revenue and turnover are key metrics used to measure the success of a business, companies live and die by their cash flow. That’s the view of Frank Knight, CEO of credit management specialist Debtsource. “Most businesses are too focused on turnover. While this figure may look good on an income statement, it simply represents a commitment to pay. Until the invoice has been seettled it’s a hollow figure, because a business is unsustainable if there’s no money coming in to pay suppliers or staff.” Knight states that a sound trade credit management strategy is essential for the establishment of healthy […]
March 23, 2018
fraud prevention

Bureaus play pivotal role in fraud prevention

With the increasing prevalence and frequency of cybercrimes such as phishing, spoofing and data breaches, which compromise the personal identity information of individuals, the risk of identity theft and its use in credit application fraud has never been greater. Statistics released in 2017 by the South African Fraud Prevention Service indicate that identity theft has increased by 200% over the past six years, while the most recent statistics available from the South African Banking Risk Information Centre show that credit card fraud increased by 13%, from R331.4m in 2015 to R375.4m in 2016. People tend to only find out that they’ve become victims of identity theft or credit application fraud […]