Comprehensive Funds Protect cover
Glenwood Brokers • July 5, 2021
Funds Protect business and personal product cover offering by PHISHIELD UMA (Pty) Ltd.
This product will protect your business funds against fraudulent activity from a loss of funds in an account in your business name as a result of a fund transfer whether authorised or unauthorised due to fraudulent conduct of a third party which is irrecoverable from your financial Institution or third party. A similar product is also available to personal clients.
Some examples of the cover this product will provide are the following EFT scams , Hacking and Vishing attacks , ATM scams , Holiday scams , Bogus property rentals , Email interception fraud , Transactions due to stolen identity ,demand for ransomware attacks, Sim Swap fraud , online banking fraud , online shopping fraud. Please contact us if you are interested.
A similar product is also available to personal clients.
In our increasingly digitised world, the importance of securing online identities cannot be overstated. For small and medium-sized enterprises (SMEs) in South Africa, the stakes are even higher.
The latest Santam Insurance Barometer shows that 81% of consumers are concerned about cyber risks, while 80% of businesses say they have strengthened their defences. But only 2% of consumers and 17% of businesses have purchased cyber insurance.
WITH virtual banking cards being offered across all digital banking platforms, and with the ability to load these cards on phones and other wearable devices, virtual cards are gaining ground over traditional physical cards or cash.