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Experts are warning of a spike in fraud targeting retirement funds with the Two Pot system arriving on 1st September

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Manage episode 435869190 series 2825639
Content provided by SAfm. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by SAfm or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Experts are warning of a spike in fraud targeting retirement funds with the Two Pot system arriving on 1st September. The system will enable withdrawals of up to a third of your retirement contributions once a year from R2,000 up to the full balance of your savings pot. But without advanced biometrics, the security of such withdrawls can be compromised. Experts say Signatures on forms can be faked, OTPs intercepted, and legacy biometrics can be spoofed with today's sophisticated AI tools.

  continue reading

2186 episodes

Artwork
iconShare
 
Manage episode 435869190 series 2825639
Content provided by SAfm. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by SAfm or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Experts are warning of a spike in fraud targeting retirement funds with the Two Pot system arriving on 1st September. The system will enable withdrawals of up to a third of your retirement contributions once a year from R2,000 up to the full balance of your savings pot. But without advanced biometrics, the security of such withdrawls can be compromised. Experts say Signatures on forms can be faked, OTPs intercepted, and legacy biometrics can be spoofed with today's sophisticated AI tools.

  continue reading

2186 episodes

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