J2 Software launches Home Secure


Cape Town, 31 Oct 2018
Read time 4min 10sec
John Mc Loughlin, CEO of J2 Software.
John Mc Loughlin, CEO of J2 Software.

J2 Software, a leading supplier of information security, governance, risk and compliance solutions, has announced the launch of J2 Home Secure, aimed at protecting home/personal users from online fraud and cyber threats.

John Mc Loughlin, CEO of J2 Software, says there is a growing trend in online fraud targeting consumers, which includes invoice fraud, fake adverts and refund scams.

"On 4 October this year, the South African Banking Risk Information Centre (SABRIC) released its inaugural digital banking crime statistics* revealing how the advent of digital technology has seen the exploitation of digital platforms by criminals. The report states that in 2017, 13 438 incidents across banking apps, online banking and mobile banking cost the industry more than R250 000 000 in gross losses. Incidents from January to August 2018 already show a 64% increase. Frighteningly, the report discloses that a comparison between January to August 2017 to the same period in 2018 shows that mobile banking incidents increased by 100%, with gross losses of R23 593 631. Online banking incidents were shown to increase by 44%, with gross losses of R89 368 722," says Mc Loughlin.

The report confirms the statistics quoted are solely industry losses and do not even account for the personal losses in events where the bank does not refund the victim.

He adds that over the same comparison period, banking app incidents increased by 20%, with gross losses of R70 156 364. "SIM swaps saw 4 040 incidents from January to August 2017, and 8 254 incidents from January to August 2018, an increase of 104%. These statistics should be enough to strike fear into the heart of any society as our lives are increasingly intricately linked to a digital world, including banking, shopping, recreation and more. The Internet of everything has arrived, and with it, vulnerability to abuse businesses, small or large, and on the personal level," he says.

Mc Loughlin notes small businesses and individuals are particularly at risk. "Both home and SME users are aware of the risks, but both are left out in the cold to handle things themselves. Earlier this year, J2 Software launched our SME Secure solution for smaller businesses.

"From the home/personal user perspective, it can be quite a dilemma of 'where do you begin?' We have online banking fraud, fake classifieds adverts, phishing scams, malware and viruses, ATM fraud, refund scams, fake invoices, and that's before we even get to advanced threats and, most importantly, our children."

Mc Loughlin says children of all ages are online using a wide range of devices; they are always researching, looking for music, downloading and playing online games. "Our children are the true millennials, they have grown up in a digital world, but does digital savvy translate into digital safety? Definitely not."

He notes the J2 Home Secure solution aims to deal with the fact that attacks are increasing and always evolving.

"J2 Home Secure provides endpoint protection, Internet security and it offers protection up to R25 000 in the event of online fraud and theft, where you suffer a direct financial loss. It provides managed cyber security for home users."

Mc Loughlin says the product offers peace of mind due to the world-class detection and monitoring capabilities. "This, plus the added advantage that your children are kept safe online by preventing access to illicit and illegal online content."

Mc Loughlin confirms that J2 Home Secure also offers protection against:

EFT fraud:
* Transfer of funds to third parties where the details of the payee have been manipulated.
* Transactions where a payee's identity is stolen, falsified, fraudulently altered.
* Thirty percent of the value of online classified transactions.

EFT duping:
* EFT or deposit scam using altered POPs, deposit slips, etc.
* When you are tricked into believing payment has been made into your account.

Unauthorised transfer of funds:
* Funds transfer from account by person not authorised.
* Includes fraudulent use of your name, address, ID, bank account, etc.
* Does not include funds by a person you know or have authorised to make a transfer.

"This product offers the modern consumer many compelling reasons to improve their security by having a managed cyber security service for home users. We also provide affordable layered security options to ensure that clients have securely backed up important files, encrypted sensitive data with the added advantage of having a single point of contact to help them set up their Office 365 at home," Mc Loughlin concludes.

* https://www.sabric.co.za/media-and-news/posts/digital-banking-crime-statistics/

J2 Software

J2 Software is a dynamic African ICT company founded in 2006 to address the need for effective information security, governance, risk and compliance solutions in the ICT markets across the continent. J2 Software offers globally leading solutions, including Dtex SystemSkan, Mimecast, J2 Online Backup and Simply Secure.

The continued rise of identity theft and confidential data leakage drives the requirement for J2 Software's product offerings, not only for competitive advantage, but as an absolute necessity.

J2 Software delivers essential tools that empower organisations to take control of their technology spend. The company's hand-picked solutions provide complete visibility over its customers' environment, while reducing risk and lowering costs.

J2 Software has provided services and solutions to renowned enterprise corporations with sites running in South Africa, Angola, Botswana, Kenya, Malawi, Mauritius, Mozambique, Tanzania, Uganda and Zambia.

Visit the J2 blog

Twitter: https://twitter.com/j2softwaresa handle: @J2SoftwareSA
Facebook: https://www.facebook.com/J2Software/
LinkedIn user group: https://www.linkedin.com/groups/3893947/
LinkedIn Company: https://www.linkedin.com/company/j2-software

Editorial contacts
Blain Communications Deirdre Blain (+27) 083 230 5522 blain@iafrica.com
J2 Software John Mc Loughlin (+27) 0861 00 5896 john@j2.co.za
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