Applications Closed 17 June 2022
Must be between the Age of 18-35
Attend at least 7 of the 8 Accelerator Sessions
Ability to work individually as well as in a team
High achievements throughout all screening stages
Commitment to active participation throughout the entire program
The hackathon’s theme is “Fraud Management: Innovating against digital identity theft, business email compromise and insider threat in a cloud-based world”. The hackathon will bring both developers, strategists, and thinkers.
The aim of this hackathon is to counter the rise of unauthorised SIM-swaps as a result of insider threat that is linked to digital identity theft and business e-mail compromise. The solution should aim to mitigate against human error and behavior through sophisticated technologies and automation, use analytics, and provide a clear methodology and approach to address technical weaknesses using a combination of relevant products.
Prior to the commencement of the Hackathon, 7 teams of 3 – 5 members will be formed with the aim of addressing the assigned challenge by building a solution for it. The participants may start building their solutions in the first accelerator session which will take place in July 2022. The SATNAC Hackathon will culminate in a hackathon finale which will take place over 48 hours starting at 16h00 on Friday 19th of August until 16h00 on Sunday 21st of August 2022.
As more and more businesses are opting for establishing online systems for their operations and adopt cloud-based infrastructure, the potential risk of fraud and cyber-attacks is increasing every day. Increasingly fraud has been perpetuated through digital identity theft and business email compromise. Digital identity theft includes a malicious actor that illegally acquires personal information (date of birth, identity number, credit card details etc.) and uses it for identity fraud (cloning credit cards, applying for loans, extorting the victim etc).
Business email compromise (BEC) is a type of email cybercrime scam in which an attacker targets a business to defraud the company. Business email compromise is a large and growing problem that targets organizations of all sizes across every industry around the world. BEC scams have exposed organizations to billions of dollars in potential losses. Email account compromise (EAC), or email account takeover, is a related threat that is accelerating in an era of cloud-based infrastructure. Primarily these threats are perpetuated by people within the organization, such as employees, former employees, contractors, or business associates, who have inside information concerning the organization’s security practices, data and computer systems. These people pose an insider threat to the organization.
As an example, the telecommunications industry suffers huge losses every year due to sim-swap fraud as a result of insider threat and digital identity theft. A new wave of fraud is also targeting banking customers through digital identity and email compromise which has lead to a rise of OTP redirecting scams within the bank.
22 On Sloane is the largest startup campus in Africa. The campus offers disruptive startups and innovative SMEs a complete turnkey solution to scale, from the initial idea all the way to commercialisation, funding opportunities and access to markets. Its aim is to nurture the entrepreneurial mindset, ensure their sustainability, and explore development of new industries and contribute towards job creation in Africa.
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