Data Breach South Africa
When Ransomware Strikes, Can You Recover Fast Enough?
Sourced from Kaspersky Ransomware attacks have become increasingly common, and they are even available on the dark Web to purchase as a service. There have been many incidents in the news, where major companies have been left with little choice other than to pay the ransom to get their data back, often amounting to hundreds of thousands of dollars. The reality is that ransomware and other cyberattacks have become a question of when not if. The ability to respond and recover quickly has therefore become an essential part of successful ransomware defence, but it is something many organisations, especially in South Africa, struggle with. Consider Some Statistics The State of Ransomware report from security firm Sophos reveals that, over the last year, the average cost of remediating a ransomw...
SA Data Breach Costs Reached Record Highs During Pandemic – IBM
IBM Security announced the results of a recent study that found that data breaches now cost South African companies $3-million (R46-million) on average – the highest cost in the 6-year history of the report. Worldwide, the average financial damages caused by a data breach increased by nearly 10% year over year to $4.24 million in 2021. Based on in-depth analysis of real-world data breaches experienced by organisations in South Africa, the study suggests that security incidents became more costly and harder to contain due to drastic operational shifts during the pandemic, with costs rising 15% for South African compared to the prior year. Businesses were forced to quickly adapt their technology approaches last year, with many companies encouraging or requiring employees to work from home, a...
Almost 50% of South Africans Will Avoid a Service Provider Following a Data Breach, Research Shows
Nearly half of South African consumers (46%) would walk away from an online service provider if it suffered any form of data breach, according to a global study by Kaspersky. The idea of avoidable data misuse is likely to incur even greater wrath from respondents, however, with 68% affirming they would no longer use the provider for fear of their data being sold to a third party in this case. As consumers understand more about businesses’ data privacy responsibilities, more transparency is needed from those companies about how they handle user data. Having to shop, be entertained, communicate and conduct business virtually is likely to have sparked heightened awareness about how much data is being offered, and what the upshots of this proliferation could be. Over two-thirds (67%) of respon...
