Tag: dataprotection

Artificial Intelligence (AI) is no longer something financial institutions are preparing for. It is already embedded in how decisions are made, how products are designed and how risk is managed. Whether through fraud detection, algorithmic trading, customer engagement or compliance monitoring, AI is steadily reshaping the financial services sector.

Attackers aren’t breaking in; they’re being invited, and the invitations are being written by the business. The easiest way to install malware on a business network is to persuade someone inside the business to do it. Attackers don’t always need to bypass the firewall or exploit a zero-day vulnerability. Sometimes, all it takes is a convincing email, a moment of misplaced confidence and trust.

In June, Meta experienced a global outage that disrupted Facebook, Instagram and WhatsApp services for users worldwide. The outage left many businesses temporarily unable to connect with customers through some of their most important digital channels. While the disruption was temporary, it highlighted the risks associated with relying too heavily on a single digital platform.

Regulatory compliance in cybersecurity is no longer an administrative chore that organisations can treat as an afterthought. As digital ecosystems expand, threat actors are leveraging automation, Artificial Intelligence (AI)-driven reconnaissance and supply-chain attack vectors. Consequently, governments are moving from advisory guidelines to enforceable directives.

Boards spend a great deal of time asking questions. They challenge strategy, review financial performance, interrogate financial statements and revisit decisions that made sense six months ago but may no longer make sense today. That is why one question stands out: "Why are executives and boards not doing the same when it comes to their cybersecurity?" My view is simple. As organisations become more digital, it becomes increasingly difficult to justify treating cyber resilience as something that sits outside regular business discussions.

The local business news cycle has taken a dark and repetitive turn. Week after week, headlines are dominated by a relentless spike in organisations falling victim to sophisticated hacks, data breaches, and crippling ransomware attacks. From local municipalities to major political parties like the ANC, no sector seems immune.

Cyber risk is no longer a peripheral IT issue in African supply chains. Instead, it is becoming a core operational threat. According to the Association of Chartered Certified Accountants (ACCA), 70% of organisations report experiencing fraud or economic crime. Cyber-enabled fraud ranks among the fastest-growing categories globally, according to the ACCA Global Economic Crime and Fraud Survey.

Microsoft 365 is embedded in a significant number of South African organisations, but adoption doesn’t mean value. The difference between the two is showing up as cost and risk. There’s a reason companies invest in technology. It should deliver measurable gains across key areas such as productivity, cost and time savings, and operational optimisation.

Artificial Intelligence (AI) is rapidly moving from experimentation to execution within South African organisations. Organisations increasingly embed AI agents across business functions, including finance, customer service, IT and operations. However, a significant governance concern is emerging.

Environmental, Social and Governance (ESG) discussions in South African boards generally default to carbon, community impact and governance process. While those remain essential, they do not tell the full story of organisational sustainability. A business may define sustainability narrowly. However, it still fails if it cannot protect data and recover quickly from cyber disruption in a digital economy.