Tag: cybersecurity

With remote work firmly entrenched in our reality, employee self-service systems have become a game-changer, digitising and automating critical tasks to ease the administrative load on payroll and HR teams. These web or mobile-based platforms offer employees direct access to their personal HR information, enabling them to manage various aspects of their employment independently.

Businesses face an ever-increasing array of security challenges today and as they adopt new technologies to stay competitive, the need for robust security measures has never been more critical. The ever-expanding range of technologies competing to keep business information safe can be overwhelming for organisations striving to stay ahead.

Technology is always great when it’s used in an ethical manner. We have a better working environment currently than some of the fore-bearers of the finance ecosystem. With the introduction of artificial intelligence (AI), we have to also consider the risk of fraud.

According to estimates by our experts, the average share of spam in global email traffic in 2023 was 45.60%. This deluge of unwanted emails not only clogs up inboxes, but also consumes a significant amount of time and resources. On average, each year, employees spend between 5 and 18 hours sorting through spam, and when scaled to an organisation with hundreds of employees, this translates into huge amounts of lost productivity. Yet, the wasted time is just the tip of the iceberg.

Who knew that cybersecurity was not about sticking a firewall on the edges of the corporate network? Well it is, but if that’s all you’re doing, you’re already in trouble. At the recent Amazon Web Services (AWS) annual cybersecurity conference, re:Inforce, held in Philadelphia this year, a constant refrain was that cybersecurity is as much about corporate culture as it is about technology.

The 2024 Cybersecurity Readiness Index reveals a decline in South African businesses’ preparedness for cyberattacks. According to the released index, just 5% of companies in South Africa have ranked at the "mature" level of readiness which is needed to be resilient against modern cybersecurity risks, down by 19% year-on-year.

As social engineering attacks continue to rise in sophistication and prevalence, the Payment Card Industry Data Security Standard (PCI DSS) has evolved to address this growing threat. PCI DSS v4.0 places a strong emphasis on social engineering awareness and prevention, going beyond generic security training to mandate specific technology and controls.

The Financial Sector Regulation (FSCA) and the Prudential Authority (PA) published Joint Standard 2 of 2024 on Cybersecurity and Cyber Resilience Requirements on 17 May 2024. The Joint Standard 2 of 2024 (Joint Standard) applies to all financial institutions as defined in the Joint Standard. It sets out the requirements for sound practices and processes relating to cybersecurity and cyber resilience for financial institutions.

While emotions might run high during a business disagreement, choosing the right dispute resolution method is a practical decision. Dispute resolution attorneys understand this and that it is inevitable for disputes to arise. For this reason, companies must grasp and understand how international arbitrations work, so as to be well-equipped to navigate disputes effectively when they occur.

South Africa joins over 60 countries that will head to the polls in 2024, with heightened risks for civil unrest reminiscent of July 2021 top of mind. 2024 has been dubbed the election year, with voters in more than 64 countries heading to the polls.