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Given current threat levels, all organisations should assume that they will experience some sort of cyber security incident sooner or later—probably sooner. Plan for the worst and, most important of all, know what to do when an incident occurs.
From digital transformation through to the arrival of the Fourth Industrial Revolution (4IR), decision-makers are changing their views on how technology can benefit the organisation. But while much attention is placed on things like data analysis, the cloud, and automation, cyber security has fallen by the wayside.
In July, City Power was hit by ransomware resulting in customers unable to purchase prepaid electricity or access its website. This has again put the spotlight on cyber security and highlights how few organisations, irrespective of their size, are safe from an attack.
The world of business is changing quickly, and with trends like the gig economy, global employment and cross-border collaboration on the rise, you can imagine the scale of regulatory and legislative changes taking place. It should be obvious, then, how important having an agile, cloud-based payroll and HR management tool is.
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.
Businesses are, for a large part, uninformed and risk averse towards securing IoT. Enterprise, industrial and commercial IoT is a sticking point for business, particularly in South Africa, where boards of directors and senior executives are not yet knowledgeable about the benefits. This causes them to be exceptionally averse to risk, but this is changing as younger and more informed ‘tech-savvy’ executives are being appointed to boards.
Businesses have never before been so accountable for the use, storing and handling of data. As highlighted by the Cambridge Analytica data misuse scandal, there is in intense focus currently on data privacy, data security and the responsibility of protecting one’s digital identity.
The cybersecurity industry's approach to protecting our data simply isn't working anymore. It was built for the past. It was about outside threats, hackers finding their way inside, building bigger and more audacious security walls to befuddle the bad guys and protect us from threats. Such an approach was created for a different time, a different, more tightly held IT environment, and a different threat landscape.