Cybersecurity South Africa
Cyber Threats on the Rise in Mining & Manufacturing Industries
Image sourced from Software ONE. Increasingly companies are looking to adopt smart technologies to optimise production and decision-making in order to create businesses of the future. However, as reliance on autonomous and digital technology grows, so too does the risk of cyber-attacks. As technologies become more interconnected, the potential cybersecurity threats and attack vectors are growing. The consequences of these threats can be severe, resulting in production and revenue losses, regulatory fines, reputational damage, as well as the shutdown of critical infrastructures. This has been further compounded by the complexities and uptake of smart systems that use advanced technologies such as machine learning and the Internet of Things (IoT). Mining, Manufacturing Under Threat Termed ‘S...
Surging DDoS Attacks Drive Growing Demand for Third Party Protection Services
Image sourced from Shutterstock. As the global workforce largely shifted to work-from-home in response to the COVID-19 pandemic, reliance on online services soared. Many businesses were able to successfully pivot to this new normal as remote connectivity allowed access to vital systems and data. But as is often the case, no good deed goes unpunished. As the latest NETSCOUT Threat Intelligence Report shows, cybercriminals have exploited new vulnerabilities created by remote work across a wide variety of vertical industries. Making matters worse, perpetrators no longer have to be particularly technology-savvy in order to pull off attacks. Today, it is easy and relatively inexpensive to access sophisticated attack tools via for-hire services: A cottage industry has sprung ...
Recent Increases in Cyberattacks Could Be Due to Leaked Cyber “Superweapons”
Sourced from Forbes Check Point Research (CPR), the Threat Intelligence arm of Check Point Software Technologies Ltd., a leading provider of cybersecurity solutions globally, warns of a further increase in cyberattacks and thinks it could be partly down to major powers leaking, what they refer to as, ‘cyber superweapons’. “We have long warned that organisations of all sizes are being bombarded by a global fifth generation of cyber threats (Gen V). These are multi-vector cyber threats that can cause fatal damage and irreparable harm to the reputation of the compromised company,” said Pankaj Bhula, Regional Spokesperson at Check Point Software. “However, most companies are only secured against what we call third-generation threats (Gen III), which are threats that we’ve known about since the...
Inside the Mind of Cybercriminals – How Threat Actors Think
Cybercriminals come in many different flavours, but the majority of them are in it for one thing: financial pay-off. They want the money that comes with offering their tools or services, selling stolen data, extortion like ransomware or plain fraud. And they all have one thing in common – your organisation is on their radar. This is why, says Anna Collard, SVP Content Strategy and Evangelist at KnowBe4 Africa, it is critical to understand how cyber criminals operate, the tools they use and the approaches they take to embed robust security within the organisation. “With ransomware going rampant and victim organisations paying up to millions of U.S. dollars to the extortionists, this problem is just going to get worse. The U.S. government recently announced that ransomware is a national cybe...
South African Investors Lose $3.6-Billion in Massive Crypto Scam
Image sourced from Shutterstock. AfriCrypt, a South African cryptocurrency investment company, has reportedly defrauded around $3.6-billion in investor funds after the company made claims that its trading systems had been hacked. Investors in AfriCrypt reportedly count amongst South African celebrities and other high profile individuals. In a matter of hours the staggering monetary amount, around R54-billion, seemingly disappeared without a trace on 13 April. $3.6-Billion in Stolen Cryptocurrency Shortly after claiming that its systems had been shut down by a hack, AfriCrypt’s teenage “directors”, brothers, Ameer and Raees Cajee (17 and 20, respectively) allegedly transferred all investor funds from their South African bank account before fleeing to the UK, reports Independent Media. AfriC...
PoPIA Deadline Extended – Information Officer Registration Portal Broken
After a series of technical glitches with the Information Regulator’s registration portal for information officers looking to achieve compliance with the PoPI Act, the 1 July 2021 compliance deadline has been scrapped. In a statement released on Tuesday, the Information Regulator said that this decision is also based on numerous concerns raised by responsible parties regarding the registration process. “The regulator is currently looking into alternative registration processes and will communicate this in due course. We understand that our portal malfunctioning has caused a lot of anxiety and panic and for that, we really do apologise,” Information Regulator chair Pansy Tlakula said. Deadline Extended by 1 Year With this, the regulator has extended the applications for prior authorisation ...
Is Cybersecurity as Necessary as Electricity?
Sourced from Travellers Cybersecurity has become as much a business necessity as having electricity says South African financial services and insurance company, Sanlam. Threat actors are constantly evolving and relentlessly hunting for vulnerabilities, cybercrime has become so profitable that exploitation is their business priority, and regulation is increasingly complex to navigate and manage. For Sanlam, cybersecurity has always been more than plugging holes and filling gaps, it’s a priority that has to be embedded within business foundations while managing cost, growth, customer experience, data analytics and regulatory controls. “Developing a comprehensive and holistic cybersecurity solution is a mandate for us, one that we must meet to ensure customer, stakeholder and industry trust. ...
IT Teams Facing Cyber Threats in 2020 – 5 Vital Insights
Image sourced from CIO. “Around the world, 2020 was an unprecedented year for IT teams,” said Chester Wisniewski, principal research scientist, Sophos. IT professionals played a vital role in helping organizations to keep going despite the restrictions and limitations necessitated by COVID-19. Among other things, they enabled education institutions to move learning online, retailers to switch to online transactions, healthcare organizations to deliver digital services and care under incredibly tough circumstances, and ensured public entities could continue to provide essential services. Much of this will have been done at high speed, with limited equipment and resources available and while facing a rising tide of cyberattacks against the network, endpoints and employees. To say things were...
Cybersecurity Is More than A Tech Problem – It’s a Business Problem Too
Image sourced from Finance Times. A concerning number of South African companies are not prepared for the inevitability of a cyberattack despite the significant financial and reputational risks, according to Ryan Mer, MD, eftsure Africa, a Know Your Payee (KYP) platform provider. “Too few senior managers view cybersecurity as a business problem and not just a technology problem,” he says. “The reality is cybersecurity is very much a business consideration. CEOs and CFOs will eventually face critical questions such as: How much money do we spend on cybersecurity? Do we change key processes? How do we create awareness and change company culture? Do we put security ahead of operational functionality? What is the role of internal processes and staff on data security and integrity?.” Mer adds t...
Confidential Computing – Why Privacy Should be the Heart of Digital Experiences
Image sourced from Intel. In this past year, the consumer experience came to the forefront. As we faced various stages of lockdowns, we turned to online banking, seeing our doctors remotely, running our businesses using technology and socialising through a screen. Digital interactions became a part of our lives – ever-present and normalised as we navigated changes swept in by this pandemic. As our digital interaction became seamless and permeated through every aspect of our lives, privacy continued to be top of mind. We carried out our lives predominantly online – making many of us more vulnerable to fraudsters. As we navigated living our lives digitally, data theft dominated 2020 as the most common attack in the Middle East and Africa. Across the region, data theft and leaks accounted for...
