Tag: cybersecurity risk

Under Protection of Personal Information Act (POPIA), service providers will have to obtain a SOC 2 report to demonstrate to their clients that they are enforcing proper security and data privacy practices. Over 80% of private, SMME and large companies plan to revise their operations in the next few years.

One year after COVID-19 was declared a pandemic, CEOs are voicing record levels of optimism in the global economic recovery, with 76% of global business leaders predicting that economic growth will improve in 2021. Coming off of a global recession (3.5% decline in world GDP) and a GDP contraction of 7% in SA, a record share of CEOs are optimistic about global economic growth this year.

2020 witnessed a dramatic cyber threat landscape from beginning to end. Although the pandemic played a central role, as the year progressed cyber adversaries evolved attacks with increasingly disruptive outcomes. They maximised the expanded digital attack surface beyond the core network, to target remote work or learning, and the digital supply chain.

Remote work will catalyse a shift from the corporate perimeter concept to micro-office security certification. Outsourcing of IT and cybersecurity functions will be crucial to solve expertise shortages and save budgets. To coordinate managed service providers along with using multiple cloud services, cloud security and management skills will become a ‘must have’.

Entrepreneurial businesses both small and medium have been particularly hit hard in these challenging times, and many are now facing an existential threat. However, there are ways to rethink their business models and adapt to a world which is unlikely to return to its old habits.