Naspers Announces The Disposal of Close To R63 Billion Of JD.Com Shares

South Africa’s internet behemoth Naspers announced today it has sold close to $4 billion or R63 billion worth of stock in JD.com that it received as dividends from investee Tencent. Tencent is China’s largest social media company.

Naspers said its subsidiary Prosus, though its unit MIH TC Holdings sold  131.8 million shares in JD it got from Tencent, representing 4% shareholding in the Chinese retailer.

JD.com is a leading supply chain-based technology and service provider. Its e-commerce
business includes online retail and online marketplace. In the online retail business, JD.com
acquires products from suppliers and sells them directly to customers primarily through
JD.com mobile apps and websites. In the online marketplace business, third-party merchants sell products to customers primarily through JD.com mobile apps and websites.

“As JD.com does not form part of the group’s core strategic focus and the JD.com shares were received by the Prosus group as a result of the JD.com in specie distribution, the Prosus group implemented an orderly disposal of the JD.com shares on the open market,” said Naspers.

“The JD.com shares were sold through an on-market orderly sales process comprising of a number of separate sales over time.”

The disposal of the shares was not subject to any conditions precedent and concluded on 24 June 2022.

Naspers netted an aggregate proceeds of approximately $3.67 billion were realised through the disposal.

 

 

How to Get Better at Sports Betting?

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Sports betting is a growing industry, and the number of people involved in sports betting grows daily. There are many different types of bets, but they all follow the same process. So, how do you get better at sports betting? There are some simple tips and tricks that’ll help you improve your chances of winning. Let’s find out what they are.

Understand the Basics of Sports Betting

Sports betting is a fun way to add excitement and variety to your life. However, it can also be a great way to get started with various sports, so you should learn the basics of sports betting before making picks against the spread.

The first step in learning about sports betting is understanding how it works. You can do this by reading articles online or talking to other players who have experience with sports betting. Once you’ve learned the basic terms, it’s time for your first bet!

Don’t be intimidated by any of this. We hope these tips help you get started on a path toward becoming a better player!

Find a Successful Sports Betting System

Sports betting can be a great way to spend your free time, but it can also get extremely frustrating sometimes. If you want to get better at sports betting and stay motivated, try one of these systems:

  1. Place your bets early! The earlier you place your bets, the more time you have to watch the game and see what’s happening. 
  2. Track your score! You can use a sports tracking app to track how many points your team has scored in each quarter or half of a game. 
  3. Use an Odds Calculator! If you have access to an odds calculator, this is an easy way to ensure that your bet is based on sound logic and not just random chance!

Practice and Master the Basics Before Trying to Win 

It’s important to know what you’re doing before you start trying to win. This will help ensure you don’t get frustrated or give up too early on your journey to becoming a top-notch sports bettor.

One of the first steps toward becoming a professional sports bettor is mastering the basics. If you want to win at sports betting, you need to learn how to read the game, not just make bets on it. You need to be able to analyze what’s happening on the field (and off) and understand why specific outcomes are more likely than others.

Once you’ve mastered these basics, it’s time for some serious practice! It’s important for beginners because they might not yet have enough experience with making bets.

Dedicate Time to Research and Stay Informed on Sports Happenings

We’re all aware that sports betting is a very popular activity among people today. The amount of money being invested in this market has increased tremendously over the years. It’s also very easy for anyone with a bank account to start betting on any sports event imaginable. However, if you want to ensure your bet wins, you need to do some research before placing any bets.

Many online websites provide information about the upcoming games, upcoming players and other related information related to your favorite teams and players. These websites also provide odds analysis so you can easily compare them before placing any bets on any particular game or player.

Conclusion

Hopefully, this guide has given you the necessary information to make better bets in your sports betting journey. Remember, betting on sports offers multiple ways to get your money back. If you do your homework correctly, you can win by betting on and against the spread, giving yourself a greater chance of success. That being said, regardless of strategy, there’s no substitute for hard work and dedication, two traits that are required to have any shot at becoming a serious sports betting professional.

Scams And Cryptocurrency Can Go Hand In Hand – Here’s How They Work And What To Watch Out For

When one of our students told us they were going to drop out of college in August 2021, it wasn’t the first time we’d heard of someone ending their studies prematurely.

What was new, though, was the reason. The student had become a victim of a cryptocurrency scam and had lost all their money – including a bank loan – leaving them not just broke, but in debt. The experience was financially and psychologically traumatic, to say the least.

This student, unfortunately, is not alone. Currently there are hundreds of millions of cryptocurrency owners, with estimates predicting further rapid growth.
As the number of people owning cryptocurrencies has increased, so has the number of scam victims.

We study behavioral economics and psychology – and recently published a book about the rising problem of fraud, scams and financial abuse. There are reasons why cryptocurrency scams are so prevalent. And there are steps you can take to reduce your chances of becoming a victim.

Crypto takes off

Scams are not a recent phenomenon, with stories about them dating back to biblical times. What has fundamentally changed is the ease by which scammers can reach millions, if not billions, of individuals with a press of a button. The internet and other technologies have simply changed the rules of the game, with cryptocurrencies coming to epitomize the leading edge of these new cybercrime opportunities.

Cryptocurrencies – which are decentralized, digital currencies that use cryptography to create anonymous transactions – were originally driven by “cypherpunks,” individuals concerned with privacy. But they have expanded to capture the minds and pockets of everyday people and criminals alike, especially during the COVID-19 pandemic, when the price of various cryptocurrencies shot up and cryptocurrencies became more mainstream. Scammers capitalized on their popularity. The pandemic also caused a disruption to mainstream business, leading to greater reliance on alternatives such as cryptocurrencies.

A January 2022 report by Chainanalysis, a blockchain data platform, suggests in 2021 close to US$14 billion was scammed from investors using cryptocurrencies.

For example, in 2021, two brothers from South Africa managed to defraud investors of $3.6 billion from a cryptocurrency investment platform. In February 2022, the FBI announced it had arrested a couple who used a fake cryptocurrency platform to defraud investors of another $3.6 billion

You might wonder how they did it.

Fake investments

There are two main types of cryptocurrency scams that tend to target different populations.

One targets cryptocurrency investors, who tend to be active traders holding risky portfolios. They are mostly younger investors, under 35, who earn high incomes, are well educated and work in engineering, finance or IT. In these types of frauds, scammers create fake coins or fake exchanges.

A recent example is SQUID, a cryptocurrency coin named after the TV drama “Squid Game.” After the new coin skyrocketed in price, its creators simply disappeared with the money.

A variation on this scam involves enticing investors to be among the first to purchase a new cryptocurrency – a process called an initial coin offering – with promises of large and fast returns. But unlike the SQUID offering, no coins are ever issued, and would-be investors are left empty-handed. In fact, many initial coin offerings turn out to be fake, but because of the complex and evolving nature of these new coins and technologies, even educated, experienced investors can be fooled.

As with all risky financial ventures, anyone considering buying cryptocurrency should follow the age-old advice to thoroughly research the offer. Who is behind the offering? What is known about the company? Is a white paper, an informational document issued by a company outlining the features of its product, available?

In the SQUID case, one warning sign was that investors who had bought the coins were unable to sell them. The SQUID website was also riddled with grammatical errors, which is typical of many scams.

Shakedown payments

The second basic type of cryptocurrency scam simply uses cryptocurrency as the payment method to transfer funds from victims to scammers. All ages and demographics can be targets. These include ransomware cases, romance scams, computer repair scams, sextortion cases, Ponzi schemes and the like. Scammers are simply capitalizing on the anonymous nature of cryptocurrencies to hide their identities and evade consequences.

Close-up of man's fingers typing an 'I love you' text message on a mobile phone.
Romance frauds often result in requests for cryptocurrency.
Tero Vesalainen/iStock via Getty Images

In the recent past, scammers would request wire transfers or gift cards to receive money – as they are irreversible, anonymous and untraceable. However, such payment methods do require potential victims to leave their homes, where they might encounter a third party who can intervene and possibly stop them. Crypto, on the other hand, can be purchased from anywhere at any time.

Indeed, Bitcoin has become the most common currency requested in ransomware cases, being demanded in close to 98% of cases. According to the U.K. National Cyber Security Center, sextortion scams often request individuals to pay in Bitcoin and other cryptocurrencies. Romance scams targeting younger adults are increasingly using cryptocurrency as part of the scam.

If someone is asking you to transfer money to them via cryptocurrency, you should see a giant red flag.

The Wild West

In the field of financial exploitation, more work has been done to study and educate elderly scam victims, because of the high levels of vulnerability in this group. Research has identified common traits that make someone especially vulnerable to scam solicitations. They include differences in cognitive ability, education, risk-taking and self-control.

Of course, younger adults can also be vulnerable and indeed are becoming victims, too. There is a clear need to broaden education campaigns to include all age groups, including young, educated, well-off investors. We believe authorities need to step up and employ new methods of protection. For example, the regulations that currently apply to financial advice and products could be extended to the cryptocurrency environment. Data scientists also need to better track and trace fraudulent activities.

Cryptocurrency scams are especially painful because the probability of retrieving lost funds is close to zero. For now, cryptocurrencies have no oversight. They are simply the Wild West of the financial world.The Conversation

Yaniv Hanoch, Associate Professor in Risk Management, University of Southampton and Stacey Wood, Professor of Psychology, Scripps College

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Eskom Says Labour Protests Causing Operational Disturbances Bring More Loadshedding Risk

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Over the past 24 hours, Eskom experienced protests at nine of its power stations and other operating facilities, by some of its employees who have embarked on unprotected strike action following a deadlock in wage negotiations on Tuesday. These protests included incidents of intimidation of working employees and blockading of roads leading to power stations and other facilities, inhibiting the free flow of personnel and commodities required for the generation of electricity and smooth operations.

The increased unavailability of plant has necessitated an extensive usage of emergency generation reserves, which are depleting faster than can be replenished.

Eskom cautions the public that should these criminal acts of intimidation persist or spread, this would increase the risk of operational disturbances and the implementation of loadshedding at higher stages. Ahead of these disturbances, the power system had already been under considerable strain for a while, with Stage 2 loadshedding currently being implemented.

The provision of electricity is an essential service in which industrial action is not permitted. The free movement of personnel and transportation of commodities in and out of power stations are essential to ensure smooth operations and to limit loadshedding to current levels and below.

Eskom appeals to its labour partners and striking employees to embrace the higher purpose of putting the people of South Africa first, respect the law and to desist from illegal and undemocratic conduct.

While exploring possible solutions to unlock the deadlock on the wage talks, Eskom has reported these acts of illegality to the South African Police Service and requested the assistance of the SAPS and other security services in restoring order.

Eskom would like to thank and acknowledge the majority of its employees, who are diligently performing their duties and many going beyond the call of duty.

Eskom will continue to closely monitor the situation and promptly communicate any developments should the need arise.

How Can The Insurance Industry Attract Young People?

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There aren’t a lot of companies that would risk letting their staff speak to the media about their work and how things can be made better to attract bright young people.

The Bulrushes was pleasantly surprised this week when special risks insurance provider – iTOO Special Risk – did just that.

The online publication was allowed to speak to a diverse group of iTOO staffers about “making insurance attractive to the youth”.

It seemed an apt topic to discuss considering it was the month of the youth, besides the staffers were mostly young.

They were quick to mention that iTOO was not just about underwriters, there was room for every profession.

IT specialists, engineers, art experts, and many other disciplines add to the mix of skills that enable iTOO to offer specialised services.

Those in attendance included Thebe Matlhaku, Tammy Jackson, Nhlanzeko Mngomezulu, Sanchin Naicker, Tshegofatso Keebine, Zinhle Tshabalala, Bradley Butler, Tove Sithole, and Nadia Shiba.

Shoni Makhari, Ambani Chief Executive Officer, was the moderator.

Tshegofatso, who is passionate about the industry, said if only more young people in schools and colleges could be made aware of the many opportunities, the insurance industry would not be perceived as “just funeral policies” and “cover for cellphones”.

Tshegofatso graduated from the University of the Witwatersrand (Wits) in Johannesburg.

“I find that a lot of people in the insurance industry tell you I fell into insurance… it kinda just happened… but for me and my other grad Zinhle we actually studied insurance and risk management at Wits,” Tshegofatso said.

“So I would say for myself it wasn’t a choice… like ‘yeah risk management love it!’

“But when I got to honours I realised wow there is a real career path here it doesn’t just have to be motor, life asset cover. it can be liability cover, it can be specialised cover.

“It’s only when I reached my honours when insurance spoke to me and I knew that’s where I wanted to be.”

She added: “This is it. I am doing what I studied for and it’s pretty cool”.

Tshegofatso’s colleague Zinhle, who also graduated from Wits, said she took a slightly different path to iTOO.

Zinhle said: “To add onto what Tshego said… she did her honours and I continued to do my LLB… so she knew in varsity that’s the route she is taking… for me, it was kind of different … I wanted to join my insurance knowledge and my law knowledge.”

Zinhle said she didn’t know about specialty insurance until she joined iTOO.

“So I started at a brokerage and I was doing their motor claims and it was only when I got to iTOO that I got to discover specialised insurance and how much more… how big insurance,” said Zinhle.

“I am in the claims department and I love it.”

Zinhle said it was only after joining iTOO that she began to realise the important role insurance plays in “our lives”.

“What we do speaks to our everyday lives”.

From being allowed to make mistakes to flexible hours and remote work, iTOO staffers were keen to let the world know they had found the best company to work for.

Tammy said “she loves” the accessibility of senior staff and the free flow of information.

“There is no Chinese wall …everyone is very accessible,” said Tammy.

She also said iTOO gives staff the space to try out ideas and when they work don’t “it doesn’t mean you are fired”.

In other places, young people don’t get the opportunity to collaborate with seniors on their ideas.

“I came in as an accountant and I am now in brand,” said Tove.

Careers are no longer just ladders, said Tove, adding “they are jungle gyms”. There are opportunities for growth at iTOO.

“Some companies you come in as an underwriter and you stay as an underwriter.”

Butler whose been in the industry for years had this to say: “I have been in the industry for the last 12 years and I found that insurance as a whole in terms of like asset cover in your normal lines of business is very traditional they are not really forward-thinking and innovative in terms of creating new ways of work… style of work… I find the flexibility at iTOO and the culture is a bit of a shock to me the way it’s so different its phenomenal.”

Nadia, studied law at varsity and is enjoying herself at claims.

“You look at people on the floor, they like to call us a bag of all sorts… we are different quirky personalities but we come together and we work well together to produce this amazing product and keep the trend going,” Nadia said.

“It’s a recognition of different types of people and different types of ideas.

“It’s a collective type of project altogether.”

After the lifting of Covid-19 lockdown restrictions, iTOO was quick off the block to adopt new ways of bringing staff back to the office.

READ: Returning Staff To The Workplace Not So Easy, ITOO Has Made A Plan https://www.thebulrushes.com/2022/03/29/returning-staff-to-the-workplace-not-so-easy-itoo-has-made-a-plan/

Commenting on the remote working options, Thebe said: “When we had the hard lockdown and people couldn’t come to the office iTOO took care of the staff… management would call to check on us.

Thebe: “Flexible work… it’s working for me … going back to a five-day week at the office sounds crazy… besides iTOO is flexi”.

A cursory look at the company’s website confirms everything the staffers said.

“We’re a special risks insurance provider, operating as Hollard’s preferred underwriter of specialty products. We see iTOO as a niche home for entrepreneurs, start-ups and specialist UMAs,” says the iTOO website.

“We partner with over 650 brokers countrywide and are always available nationwide and in selected African regions 24/7/365.

“We’re experts in what we do, so you can be an expert in what you do.

“We have the technical expertise in every sphere of our insurance offering and are passionate about finding a way to solve any and every problem.”

First Case Of Monkeypox Confirmed In Johannesburg, South Africa

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South Africa on Thursday said medical experts had confirmed the country’s first case of Monkeypox.

Health Minister Joe Phaahla said the patient is a 30-year-old man from Johannesburg “with no travel history “

The outbreak was confirmed after laboratory tests.

He said contact tracing had begun.

Monkeypox spreads from one person to another through direct contact with infected bodily fluids, lesions or scabs on the skin.

On Friday, 17 June 2022, WHO said since the begining of the year, cases of monkeypox have been reported from 42 Member States across five regions of the Americas, Africa, Europe, Eastern Mediterranean, and Western Pacific.

As of 15 June, a total of 2103 laboratory confirmed cases and one probable case, including one death, have been reported to WHO.

The outbreak of monkeypox continues to primarily affect men who have sex with men who have reported recent sex with new or multiple partners.

“While epidemiological investigations are ongoing, most reported cases in the recent outbreak have presented through sexual health or other health services in primary or secondary health care facilities, with a history of travel primarily to countries in Europe, and North America or other countries rather than to countries where the virus was not historically known to be present, and increasingly, recent travel locally or no travel at all,” WHO said in a communique.

“Confirmation of one case of monkeypox, in a country, is considered an outbreak.

On Friday, 17 June 2022, WHO said since the begining of the year, cases of monkeypox have been reported from 42 Member States across five regions of the Americas, Africa, Europe, Eastern Mediterranean, and Western Pacific.

As of 15 June, a total of 2103 laboratory confirmed cases and one probable case, including one death, have been reported to WHO.

The outbreak of monkeypox continues to primarily affect men who have sex with men who have reported recent sex with new or multiple partners.

“While epidemiological investigations are ongoing, most reported cases in the recent outbreak have presented through sexual health or other health services in primary or secondary health care facilities, with a history of travel primarily to countries in Europe, and North America or other countries rather than to countries where the virus was not historically known to be present, and increasingly, recent travel locally or no travel at all,” WHO said in a communique.

“Confirmation of one case of monkeypox, in a country, is considered an outbreak.

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Vodacom Aims To Connect 1 Million Youth To Gig Economy

Vodacom, South Africa’s largest mobile phone operator, wants to connect a million unemployed South African youth to the gig economy. A gig economy is a free market system in which temporary positions are common and organisations hire independent workers for short-term commitments. The term “gig” is a slang word for a job that lasts a specified period of time. Traditionally, the term was used by musicians to define a performance engagement.

In a bid to give youth a fighting chance in this tough economy, Vodacom said in a statement today that it has launched Get-a-Gig through NXT LVL with a three-year vision of connecting 1 Million Youth to jobs or gigs by 2024.

The latest employment data, released by Statistics South Africa (Stats SA), shows that unemployment rose to 35.3% from 34.9% in the first quarter of 2022 compared to the last quarter of 2021. This is by far the highest level since the beginning of the Quarterly Labour Force Survey (QLFS) Quarterly Labour Force Survey (QLFS) in 2008. Youth unemployment rate remains at a staggering 65.5%.

With these staggering figures and as part of Vodacom’s sustained commitment to empowering South African youth, Vodacom’s Get A Gig matches a job seeker (youth) with job opportunities or gig opportunities within Vodacom and its partners, while allowing them to Grow, Learn and Earn. Get-A-Gig was launched as an extension of Vodacom’s recently revamped NXT LVL (pronounced next level), a platform aimed to address the challenges faced by young people, offering them opportunities to connect, learn and earn as well as giving them access to the right tools to help them reach their potential.

NXT LVL also empowers young people to manoeuvre through their lives into adulthood, particularly at a time when they are seeking jobs, and unemployment is at a record high.

“Our vision is to make sure that we leave no one behind, especially young people who form a critical part of the country’s future. The launch of Get A Gig is yet another way that we at Vodacom strive to fight the rising youth unemployment rate,” says Jorge Mendes, Chief Officer of Consumer Business at Vodacom.

“Our purpose is centred on building a digital society with techco-solutions and an education ecosystem that transforms lives for a better tomorrow.

“As we innovate, and bring new propositions to the market, we are mindful of the challenges that are faced by consumers at large. The revamp of the NXT LVL platform and the launch of Get A Gig are some of the initiatives we introduced, aiming to make a meaningful difference in the lives of young South Africans” added Mendes.

“As we empower and help our youth connect to jobs, even if it is one job at a time, we believe it is a step towards curbing the scourge of unemployment in our country.

By them (youth) earning a living, connected by the use of our technology, we believe they can go further,” added Mendes. Get A Gig is available free of charge to all NXT LVL customers via the My Vodacom App and VodaPay.

New NXT LVL customers need to download the My Vodacom or VodaPay App, register for NXT LVL, click on the Get A Gig tile to register & create a profile, Search & apply for available Gigs in their area.

Existing NXT LVL customers can register for Get-A-Gig by simply logging onto the My Vodacom App or VodaPay super app, click on the Get-A-Gig tile to register & create a profile, and then search & apply for available Gigs in their area. Click on VodaPay from the Apple and Android app stores, to download the VodaPay super app.

 

Wingcopter, A German Drone Delivery Firm, Targets Sub-Saharan Africa

Wingcopter, the German delivery drone manufacturer and service provider, today announced that it has raised $42 million or R672 million from renowned financial and strategic investors.

The new funding is part of a Series A extension round, tripling the company’s total equity raise to more than $60 million or R960 million to date.

Leading German retailer REWE Group as well as German investors Salvia and XAI technologies came on board as new shareholders. They were joined by Japanese conglomerate ITOCHU and previous backers Futury Capital from Germany and Silicon Valley-based Xplorer Capital.

Drone Delivery has gained enormous momentum in the last years, with more and more enterprises and administrations understanding the potential of fast and environmentally friendly on-demand deliveries through autonomous cargo drones. This is perfectly underscored by Wingcopter’s recent partnership agreement with Continental Drones that aims to deploy 12,000 Wingcopter drones over the next years to deliver much-needed goods throughout sub-Saharan Africa by building a new layer of infrastructure in the sky.

Other Authorized Partners that act as strong local operators or distributors in their respective geographies include ITOCHU in Japan and Synerjet in Latin America, which both became investors in Wingcopter in addition to signing the partnership agreements.

In Malawi, where the company has been active since 2019, Wingcopter will expand its network operations with new Wingcopter 198 drones and more hubs, transporting various medical goods – including emergency medicines and COVID vaccines – to remote health centers, in line with the company’s goal to save and improve the lives of people all over the world.

“At Wingcopter, we create efficient and sustainable drone solutions to save and improve lives. For this, we are hiring passionate pioneers with whom we build what has not existed before,” said Tom Plümmer, Co-founder and CEO of Wingcopter.

“The new funding, combined with growing revenues, puts us in an excellent position to establish our industry-leading drone delivery solution with our customers around the globe to optimize supply chains.”

Opt-In Biometrics Is Not Surveillance – Here’s Why

When the Independent Communications Authority of South Africa (ICASA) recently proposed linking biometric data to SIM cards, privacy concerns quickly cropped up. Would this mean constant surveillance or an increased potential for identity theft?

A resounding no, and no, says Gur Geva, Co-Founder and CEO of iiDENTIFii, the leader in remote biometric digital facial authentication and automated onboarding technology.

“Because biometric technology only started making its way into the mainstream relatively recently, consumers are still unsure of what the technology entails and how it may be used. This, naturally, leads to some misconceptions and fears. The reality is that opt-in biometrics are the most secure way to identify someone – and keep their information and identity safe from misuse – and these differ a great deal from biometrics used for surveillance.”

Increased privacy and security

“When biometrics are mentioned, many people imagine dystopian scenarios – surveillance cameras on streets, capturing faces to keep track of civilians. But ICASA’s proposal, and the type of biometrics currently becoming more mainstream, is called remote biometric onboarding. It’s opt-in verification and account authentication as opposed to surveillance. Remote biometric onboarding links a person’s biometric data, whether their face or fingerprint, to their account so that they, and only they, can access the account safely and securely,” explains Geva.

Biometrics come in many different forms. While there is a place for biometric surveillance, such as security at airports or building entrances, opt-in biometric onboarding with liveness detection protects institutions and their clients from fraud.

“Fraudsters have made face matching on its own almost obsolete by employing spoofs that exhibit human traits, such as photos or puppets. Furthermore, even authentication processes with gesture/motion requirements to overcome this problem can still be spoofed. Leading biometrics AI uses liveness detection to determine that it is interfacing with a genuine, physi­cally present human being,” says Geva.

This makes it far safer than passwords or PIN numbers, which can be hacked or stolen by fraudsters. With stolen passwords, fraudsters can potentially access thousands of accounts in a matter of seconds. Where biometric liveness detection is required, it becomes exponentially harder for thieves to impersonate or hack accounts.

And, from a privacy perspective, it’s not that different from current identification methods.

“When someone has a copy of your ID, they already have your biometric data – an image of your face. How biometric data is managed by mobile operators would still be subject to strict privacy laws laid out in the Protection of Personal Information (POPI) Act and the General Data Protection Regulation (GDPR) guidelines,” he adds.

Safety meets convenience

Because biometrics and liveness detection can truly prove that you are really you when logging into an account, it opens a world of convenience and security for consumers. Says Geva: “The average person has around 80 passwords. Passwords they forget, passwords that are compromised, and passwords that don’t transfer between devices. Biometrics, on the other hand, provide a seamless experience where onboarding no longer requires account details, an ID book, fingerprints, and more. Now, you can add your ID number, hold your phone up to your face for liveness detection, and link your SIM. And yet, it’s safer, because no-one except you will be able to perform a SIM swap or take out an additional line without this direct biometric link.”

This safety and convenience mean the identification method will become much more mainstream, and soon. Two-factor authentication could be replaced by proof of liveness and a fingerprint, for example, and even social media could become more secure. “Currently, only celebrity social media accounts get verified, and even then, not biometrically. But everyone should have the ability to show that their account is truly theirs. The amount of bot accounts is material– as the due diligence on Elon Musk’s Twitter deal proved.  These fake accounts can be used to push the same message, thousands at a time, regardless of accuracy of message. That could be prevented,” says Geva.

And the world is ready for biometrics. A Visa study shows that 86 percent of consumers are interested in using biometrics to verify identity or to make payments, while 70 percent of consumers believe that biometrics are easier.

Geva believes the possibilities will scale significantly. “Technology is not static and evolves all the time. Some laptops, for example, can detect your liveness through infrared and switch on when you sit in front of them. Tying that to biometric facial mapping could log you in to your devices in future in a far more secure manner. Facial biometrics with liveness detection will likely be the dominant biometric authentication method simply because it’s more accurate than voice, easier than fingerprint, requires no contact, and can be compared to an identity document face image. It’s the ultimate in convenience and security.”

Road Traffic Infringement Agency Fires CFO Palesa Moalusi

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The Road Traffic Infringement Agency (RTIA) on Wednesday announced that it has fired CFO Palesa Moalusi, after a forensic investigation uncovered financial irregularities.

“The dismissal is on the basis of several financial irregularities regarding the improper extension of service contracts with various third-party suppliers,” said the RTIA.

“The charges also entail the incorrect reporting of the company’s performance during the 2017/2018 financial year.”

The RTIA said an “extensive investigation” into allegations of misconduct has led to the summary dismissal of Moalusi, the agency’s CFO.

“The dismissal is as a result of the findings of guilt against various charges of misconduct levelled against Ms. Moalusi during the disciplinary hearing,” said RTIA.

Commenting on the dismissal, RTIA Chairperson Bongekile Zulu said: “We are committed to combating corruption, serious misconduct, and ensuring the effective functioning of the organisation”

Zulu added: “We provide a vital service to the public and this kind of misconduct cannot be tolerated.”

“As a public entity, our function is to serve the people of South Africa and further our country’s socio-economic
development.

RTIA acting Registrar. Matsemela Moloi said: “We continue to be dedicated to fulfilling this mandate in all that we do”

The agency said Caiphus Matjie will act as CFO.