Cyber Security Awareness Month: Why is South Africa among the most vulnerable countries to Cyber-crimes

In a society that is increasingly becoming technologically savvy and employing technological means to achieve a vast array of business as well as social needs. Now more than ever, cyber-security is an utmost necessity. Cyber criminality is a modern phenomenon that is achieved through the infiltration of a company’s databases, networks, IT assets and sensitive information.

Cyber-attacks in the form of hacking, ransomware attack, internet fraud, online identity theft and cyberstalking are threatening the integrity, safety and security of people and companies, big or small. These attacks are a great concern.

• According to the South African Banking Risk Information Centre (SABRIC), South Africa has the third-highest number of cyber-crime victims worldwide, losing about R2.2 billion a year to cyber-attacks.
• Malware attacks in South Africa increased by 22% in the first quarter of 2019 compared to the first quarter of 2018, according to global cyber security company Kaspersky Lab.
• While a report from cyber security firm Norton says globally, 978 million consumers were affected by cyber-crimes in 2017 stealing a total of $172 billion.

Cyber security ensures that a company can be protected from unauthorised access to its hardware, software and other internet-connected systems. Cyber security services can critically save a company from losing crucial information, credibility as well as money.

Most of the cyber security companies in South Africa only service information Systems (IT) and not Operational Systems (OT). Operational systems need to be secured as well, especially in divisions such as industrial or manufacturing sectors, mining and engineering. This speaks to the trend of Industry 4.0 and IoT and continuing automation of all industries. There is a huge shortage of digital security skills in South Africa, leaving the country vulnerable.

In the ongoing battle for cyber security companies like LAWtrust, who have cemented their name as leaders in defensive technologies, believe that companies need to put measures in place to ensure that they are protected from Cyber-attacks that may be of malicious intent.

The process of cyber safekeeping, as explained by Maeson Maherry (LAWtrust’s Chief Solutions Officer) “Essentially includes vulnerability assessments, penetration testing, architecture reviews and gap analysis against business/compliance requirements, which will help give a comprehensive view. The focus is on the aspects of remediation and information security solutions that can provide the fastest, and the greatest advantage to a business in a disruptive but governed environment.” He stated.

For companies, the digital environment ought to be a secure space. By implementing the necessary cyber security tools to ensure safety, companies then become better positioned in protecting their resources and ultimately their place in the business world.