CYBER SECURITY BLOG

Data is crucial for success. But you don’t know what you should know if it’s not structured….

“In the digital world, these (cyber) breaches result in not only significant financial damage but reputational as well. If the breach is significant enough, your company risks not being able to recover at all from such an attack”

Not only is the proliferation of cybercrime increasing, but the style and complexity of the attacks are changing.

There are a lot of South African companies that are paying ransoms to release information from hackers. The question is has your board understood the implications of the ransom?

Failure to embed privacy into the DNA of their business strategy could ultimately lead to the extinction of a business given how closely consumers and regulators alike are paying attention to how organisations collect, store and use personal data.

In terms of financial governance and financial security for business, CFOs need to proactively keep cyber security top of mind among the executive team.

“An executive would be at risk of being fired if half their customer base disappeared after they made a crucial business decision”

Companies need to accept that the vulnerability is there and figure out what they’re going to do when the attack happens

Cyber criminals have increased their attacks on SA companies, but company strategies have lagged behind in terms of preparing for emerging threats. The rate of change with regards to cyber-related risk is accelerating rapidly, increasing the security gaps organisations must contend with, and leaving them more exposed than ever before