Tag: CyberThreats

A cyberattack does not end when malicious activity has been contained. For the affected business, that is usually when the most expensive phase begins. When an attacker breaches a system, the problem quickly extends beyond IT. Systems may go offline while staff try to keep the business running. Customers demand answers, and the business may need to meet regulatory obligations. All these activities cost money, often when revenue is already under pressure.

Software-as-a-Service (SaaS) is no longer just an IT choice. It has become the operating system of business itself. From Salesforce to Workday, Microsoft 365 to Slack, the SaaS layer now underpins collaboration, analytics and decision-making. However, while businesses enjoy the convenience, scalability and cost efficiency that these platforms provide, many overlook the hidden web of interconnected risks beneath them.

At the start of 2024, a finance worker in Hong Kong at a multinational firm joined what appeared to be a routine video call with senior leadership. The call included people who looked and sounded like the company’s UK-based CFO and other executives. However, AI-generated deepfakes had created these individuals. As a result, the employee authorised several transfers to different bank accounts worth around $25 million.

Cybercrime in South Africa is reaching new heights in 2025, with attacks becoming increasingly sophisticated and frequent. According to industry estimates, cybercrime is projected to cost the South African economy over R2.2 billion annually.[1] This surge highlights the urgent need for stronger digital defences across all industry sectors.