ANDILE KHUMALO: Robbers have ditched their guns in favour of phones
Banks and mobile operators must bite the bullet and spend on improving cybersecurity
Insurance is by far the world's most popular grudge purchase. However, its undisputed new rival, cybersecurity, is getting a lot more attention in recent times, especially amid convergence between traditional banks and mobile connectivity. An ongoing court battle recently highlighted just how badly things can go wrong when a bank's security system relies on a mobile network's efficacy, which at the best of times can quite easily be intercepted by criminals masquerading as employees.
A bank's traditional architecture of large pillars and thick walls typically projects strength. It is designed to communicate might and impenetrability...