Tag: data backup

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.

Data integrity, security, and availability are vital aspects to consider whether it pertains to personal information, business records, or research data. However, many individuals and organisations often neglect the importance of data maintenance, which can lead to data ‘load shedding’, a term used to describe the loss, corruption, or unavailability of data due to poor data management practices.

In the ever-evolving digital landscape of today, where data stands as the new currency, the demand for skilled data management professionals has become ever apparent. As a critical, ethical, legal and operational concern in modern business, data protection and management are essential for maintaining business continuity.

Storing data in the cloud is generally smart, and many organisations are already doing so, often without realising it. Enormous amounts of information reside in cloud-powered services such as Office365, Google Workspace, Dropbox, OneDrive, Slack and so on. If a business uses some type of Software-as-a-Service product, some of its data is already in cloud storage.

There is no greater threat to South African businesses than load shedding. It is that simple and that stark. It touches every aspect of us as a nation, as a people and as industries attempting to stabilise and grow the country. It is the most disruptive challenge of our generation.

Ransomware attacks have dominated the headlines over the last two years and will continue to control the cybersecurity agenda going into 2023. While ransomware gangs continue to be successful in extorting money from businesses, those that do pay demands are financing the ransomware industry and further crime.

Ransomware and malware have become part and parcel of business in today’s world. Organisations need to be adequately prepared, which means that their data protection strategy must go beyond the traditional backup, restore, and disaster recovery.

The statistics make for worrying reading. According to our Data Protection Trends Report 2022, 97% of South African companies experienced an outage due to a cyberattack in the past 12 months. Of those, almost nine in 10 (86%) suffered a ransomware attack.

At a time when hybrid working is normalised, many companies have taken to using the Remote Desktop Protocol (RDP) that enables computers on the same corporate network to be linked together and accessed remotely even when employees are at home.

South Africans have become accustomed to dealing with crime because we have no other choice. Various sources place South Africa near the pinnacle of lists of the highest crime rates in the world. If you are a South African, or someone living in South Africa, you most likely take a number of precautions at home, work and play to avoid falling victim to crime.