Tag: ransomware

As organisations across the globe contend with an increasing number of cyberattacks, schools and higher learning institutions are looking for innovative and cost-effective ways to protect their students, staff, and data from breaches and ransomware.

Given the rapidly evolving cyber threat landscape, there is a growing sense that South African companies will rethink their cloud approaches to better prepare for rapid recovery in the event of potential ransomware and other cyberattacks in 2023.

Data management has traditionally not been high on the priority list for South African organisations, often seen as an afterthought and a grudge purchase. As the threat of ransomware has grown, this attitude is beginning to change.

Ransomware gangs have really upped their game in the last few years, generating billions in paid ransoms from public and private sector organisations. The gangs have increased attacks on critical infrastructure operators, hospitals, manufacturing companies and pharma companies. Ransom demand amounts have gone up as well, with victims such as CNA Financial paying out a record $40 million.

The online world is embroiled in a war. Such a statement may seem exaggerated and dramatic, but the figures paint a different picture. In 2021, the FBI received 847,376 cybercrime complaints, equalling $7 billion in losses.

The massive surge in cybercrime, the ever-increasing number of threat vectors, and a critical skills shortage has left organisations feeling more vulnerable to cyberattacks than ever before. With exponentially more ransomware incidents being reported than there are skilled cybersecurity professionals available, progressive businesses are looking to Artificial Intelligence (AI) and Machine Learning (ML) to close the gap.

Traditional cyber threat intelligence (CTI) provides information on threat actors targeting IT or OT but often only addresses edge device security during the deployment of highly specialised systems. We CTI take OT security a step further with critical vulnerability intelligence and monitors major edge devices, their vendors and their version numbers to make clients aware of threats to IT, OT and cloud environments.

Virtualisation in the cloud and the advancement of internet-connected devices have made running industrial systems much more manageable. However, these technologies are also introducing operational environments to new vulnerabilities and risks.

The world has a serious problem that puts the digital era in harm's way. Numerous South African businesses have fallen prey to a new ransomware attack, joining many more globally.

The processing of personal data has become increasingly valuable and lucrative for businesses. It offers opportunities for economic growth, social advancement, and research. However, it can also pose risks to the rights of individuals, their basic human rights.