Tag: data breach

Alongside with the International Advertising Association (IAA), we have released the two-volume set, Privacy Law: A Global Legal Perspective on Data Protection Relating to Advertising & Marketing. It is the first-ever guide to how privacy laws affect marketing and advertising around the world.

In terms of risk versus reward, cybercrime is a highly lucrative industry. Research from Atlas VPN suggests that cyberattacks generate more than $1.5 trillion in revenue each year, and this figure is growing.

Whether the Protection of Personal Information (POPI) Act is law or not, data protection compliance has become good business practice, largely because of the reputational and financial risk. Recently, the Information Regulator approached South Africa’s President to issue a commencement date of 1 April 2020 for the remaining provisions of the POPI Act.

Renowned French philosopher, Paul Virilio once said; “When you invent the ship, you also invent the shipwreck.” How inevitable is this in technology today? Security professionals are having to work hard at putting in measures, best practices, mapping systems, lighthouses and beacons in order to reap the benefits of new innovations, all while managing potentially catastrophic risks.

South Africa has significantly more financial crime than most other countries. With a rate of 77% compared to a global average of 49%, SA is something of a hotbed for fraud and scams. As consumers and insurance-seekers we need to understand the risks of economic crime and how to avoid becoming a victim, the risks of committing insurance fraud and how to avoid being inadvertent perpetrators of fraud ourselves, by for example, omitting information in an insurance application

With data breaches hitting headlines daily, security professionals are constantly concerned about the next big threat. Whether it’s ransomware, phishing or endpoint attacks, there’s always something on the horizon waiting for its turn in the spotlight.

South African enterprise is no stranger to the phenomenon of cybercrime. In light of numerous high-profile data breaches, it is evident that digital espionage is on the rise. In fact, the South African Banking Risk Information Centre (Sabric) estimates that South Africans lose R2.2bn to internet fraud and phishing attacks annually.

As digital transformation continues to evolve the business landscape, the market remains fiercely competitive for businesses and brands – especially when it comes to customer loyalty and retention. One industry where this rings especially true is aviation, where customers’ requirements for on-demand access to expert airline consultants must be met through a variety of channels when navigating their travel experience.

Participants in 2019 Global Risk Management Survey ranked cyberattacks and data breaches as #6 in the top 10 risks currently facing organisations. The risk entered the Top 10 list for the first time (at #9) in 2015 and is projected to go from #6 to #3 in the next three years. As a result it is seen as no longer an if, but when a business will experience a cyber attack.

South Africans have read about, and many have unfortunately experienced, significant data breaches this year already. Even the Presidency’s website was targeted in July 2018.