Tag: cyber attack

Participants in 2019 Global Risk Management Survey ranked cyberattacks and data breaches as #6 in the top 10 risks currently facing organisations. The risk entered the Top 10 list for the first time (at #9) in 2015 and is projected to go from #6 to #3 in the next three years. As a result it is seen as no longer an if, but when a business will experience a cyber attack.

Every organisation with a network, an online presence and holding or accessing confidential data is at risk of cyber-breach or attack. The very nature of the internet means that cyber criminals from anywhere in the world can hit any specific targets.

Cyber-attacks are increasingly becoming more and more sophisticated, and the magnitude of their impact across all industries globally is at an all-time high. A number of reports in the last two years revealed that the BRICS economies (Brazil, Russia, India, China and South Africa) were found to be amongst the largest victims of cybercrime. According to VM Advisory*, South Africa is listed as one of the ten globally most vulnerable countries to cyberattacks.

Cyber attacks against financial services firms and other sectors have increased in number, size and sophistication. Globally, cybercriminals have launched large-scale attacks against banks and other financial institutions, siphoning billions of dollars from bank accounts as well as stealing millions of credit card records.

As any business grows, data sharing increases in both volume and frequency. Every one of these digital relationships presents an expanding set of cyber risks. Cyber security has become a major priority for every organisation. The right controls and procedures must be put in place to detect potential attacks and protect against them. However, with the ever increasing risk of a cyber-attack businesses are finding it increasingly difficult to keep up with the rapidly evolving cyber threats?

Political uncertainty through transitions and instability are among the key risks for businesses in Southern Africa in 2018. 2018 will see continued uncertainty around political leadership in our Southern African markets. The transitions in Zimbabwe and Angola in 2017, elections in Mozambique in 2018, and factionalism within South Africa’s ruling African National Congress (ANC) once again remind businesses in the region of the importance of gaining a clear understanding of the impact of such uncertainty on their risk environment.

Is your security compromising the availability, integrity and confidentiality of your business? Cybercrime is on the rise, affecting vulnerable businesses across the globe. The effects of...

Recent cyber-attacks all over the world have rung alarm bells over how firms protect their business from being targeted by criminals. A new report tells...

Badibanga Promesse | Regional Vice President – Africa | CIMA | Badibanga.Promesse@cimaglobal.com| http://www.cimaglobal.com/| Is your business a step ahead of the perpetrators? Fraud and corrupt practices...

As the world has become more connected, so too it has become more vulnerable. As more data is regularly exchanged between employees, clients, and suppliers as well as families and friends - using technologies that were designed to share information, not to protect it - we must realise that there is a greater need for more human involvement and understanding when it comes to the use of technology.