Tag: RiskManagement

Payment Card Industry Data Security Standard (PCI DSS) compliance has often been viewed as a requirement only when circumstances force action. For example, organisations respond after a breach makes headlines or when a bank requests proof. This reactive approach exposes organisations to avoidable risk.

Smarter underwriting, stronger risk management and closer collaboration between insurers and engineers are shaping the industry’s future. Engineering has always been about progress. It stretches the limits of knowledge, materials and technology to solve complex problems. However, innovation and risk remain inseparable. Every project carries uncertainty.

So, what do most comprehensive cyber insurance policies usually cover? First, they cover the costs of investigating and responding to a breach. Forensic teams do not work for free. You will need them to determine what happened, how severe the breach is and whether the attacker left evidence behind. Understanding these response costs is essential when assessing cyber insurance limits.

In today’s competitive marketplace, companies face mounting pressure to attract and retain investors. This pressure can tempt leaders to overstate achievements or inflate projections. Some may also resort to window dressing. While these tactics can polish a company’s image, they raise the risks of corporate ‘washing’. More seriously, they can cross into misrepresentation or securities fraud

Today’s investment landscape is increasingly complex for South African investors. Heightened market volatility and political uncertainty make portfolio management more challenging. Offshore investing remains a critically relevant strategy for preserving and growing wealth while managing risk. Diversifying offshore is not just a luxury; it has become a necessary consideration for prudent investors.

Following several high-profile governance breakdowns, most notably the collapse of Daybreak, South Africa continues to grapple with the aftershocks. These failures follow persistent cases of state capture. As a result, company directors across sectors now face heightened scrutiny.

With the growing challenges of fraud in today’s complex operational environments, organisations require a rigorous and adaptable framework to protect themselves against risks. ISO 37003 emerges as the new international standard specifically designed to offer comprehensive guidance for developing, implementing and maintaining a Fraud Control Management System (FCMS).

Cyber incidents continue to grow in frequency and severity, especially as new technology emerges. While D&O and cyber liability policies offer distinct coverage differences, terms need to be carefully structured to avoid potential gaps.

Since the release of the “Principles for effective risk data aggregation and risk reporting” regulation (commonly known as BCBS 239) in January 2013 by the Basel Committee on Banking Supervision (BCBS), the regulation evolved significantly, transitioning from a regulatory requirement into a strategic framework for improving risk data aggregation and reporting across the banking sector.

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.