What Is The Level Of Risk On Your Personal Digital Data?

5 to 10 years ago, cybercrime activities were only associated with multinationals and corporates such as banks and other financial institutions. In the mind of many, cybercriminals only targeted these institutions for money.

As the years moved by, financial institutions and other companies became strict in securing their businesses against hacking. It is now more difficult to hack into a Kenyan bank than ever before. This does not mean that the Kenyan banks are now safe. No. In 2019, Kenyan banks and individuals lost 2.8 billion shillings to hackers.

Hackers have now realized that it is easy to target individuals and individual data and small organizations other than large ones. Cybercrime has, therefore, moved from targeting businesses only to targeting individuals. With Kenya leading 20 other countries in the realization of financial inclusion, the majority of Kenyans have embraced mobile banking as a way of life.

Kenyan banks have also moved to ensure that their customers no longer visit the banking halls as it was traditionally, but do virtually all banking activities via their mobile phones. Through a mobile phone, one can deposit cash, check account balance, pay for goods and services, request for a loan, pay for a loan among other transactions.

The fact that one is online, either transacting or just accessing social media platforms, the risk of being hacked or lured towards disclosing important personal information is very high.

According to Takaful Insurance of Africa, during the launch of My Cyber Care Takaful Product, Cybercrime can affect absolutely anyone who transacts online. While online, your identity can be stolen to perpetrate fraudulent online transactions and you might either lose money or found yourself on the wrong side of the law.

For those who are fond of using credit cards, your personal credit card or business banking details can be stolen off computers, websites or apps at any time. In the process, you could lose your life’s savings or suffer serious cash flow problems for your business.

It can cost a great deal of time and frustration to restore your credit and your reputation With more and more people transacting online and having an online presence so the threats of fraud have increased as have the methods used by criminals in defrauding consumers.

Most financial institutions will cover fraudulent transactions, but very few will reimburse customers fully for Phishing scams and cyber fraud.

READ: This Is Why You Need A Personal Cyber Security Plan

What My Cyber Care Takaful Product Does

Takaful Insurance of Africa has launched a new digital insurance product for Kenyan individuals and organizations that will see people transact without the fear of being hacked with any losses that will occur as a result of being hacked covered.

The My Cyber Care Product given through Takaful covers the following:

Fraudulent Online Purchases – When neither you nor your actual credit card are present at the point of sale.

Phishing Scams – Fraudsters con you into providing your personal information and use it to perpetrate fraud.

Vishing Scams – Vishing is where a fraudster phones their victim posing as a bank official or service provider and uses social engineering skills to manipulate them into disclosing confidential information. This information is then used to defraud the victim.

Fraudulent In-App Purchases – Your credit card details are used to pay for mobile applications

Fraudulent EFT’s – Someone gains access to your banking details and transfers money from your account without your knowledge

Virus Attacks – Malware or viruses unwittingly downloaded on your computer or device that harvest your personal data.

If you or your organizations are always online and do most of the transactions online, then you need this product. Nobody is safe.

READ: Takaful Insurance Of Africa Launches New Digital Data Protection Product