Tag: cyber risk

As the global energy landscape undergoes a transformative shift, hydrogen emerges as a compelling substitute for traditional fossil fuels, poised to play a pivotal role in the evolving energy transition. With the energy transition market valued at US$183 billion in 2022 and anticipated to surge to US$317 billion by 2032, hydrogen stands out as a key player in this dynamic evolution.

In recent years, there have been a significant surge in cyber threats targeting industrial control systems (ICS) and associated control networks. Industry reports reveal...

Law firms remain targets of cyber-criminals, largely due to the vast amounts of client data, information and money that they retain and the continued refusal of most law firms to take basic precautions when it comes to their cyber security posture.

Banks and financial service institutions (FSIs) come under pressure from government, shareholders, employees and customers as security risks increase during the pandemic. 98 percent of IT decision makers working in banks and FSIs in South Africa are under pressure to level up their security protocols, according to our new research.

Recent global events, specifically the global COVID-19 pandemic, have caused widespread business disruption and transformation, forcing businesses to adapt to new ways of working in an extremely short period.

The COVID-19 pandemic has created a highly volatile and uncertain environment for businesses resulting in a litany of new or heightened risks for directors and officers (D&O) as well as exacerbating the situation in an already strained D&O insurance market.

It is commonly understood that security – or specifically cybersecurity in the modern-day organisation – is everyone’s responsibility, but what does that mean?In the same way as fiscal discipline is managed today, security can and should be connected to the very fabric of the business.

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.

Cyber risks are evolving on a near daily basis posing countless threats to companies, and accordingly, directors need to stay abreast of legal developments to protect themselves and their companies in their fiduciary duties.

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?