Cyber crime's annual impact on SA is estimated at R2.2 billion, according to an ITWeb. We are said to be the eighth most targeted country in the world for ransomware, with more than half of South African firms impacted by ransomware in the past year.
This is not the right approach and will not persuade key stakeholders to part with hard cash. Companies need to shift their thinking to the real business issue and that is how much should they be investing, versus the potential damage of downtime, liability or reputation damage.WannaCryOver a four-day period in 2017, the world experienced one of the biggest cyber attacks to date. It was later attributed to North Korea by the United States and several other countries.
A modern approach to cyber security is proactive, multi-layered and an adaptive one that considers the evolving threat landscape and the increasing sophistication of cyber attacks. Outdated approaches tend to be reactive rather than proactive, with organisations primarily focusing on incident response after an attack has occurred, rather than actively seeking to identify vulnerabilities and threats proactively.
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