Can South Africa keep up?
“Making data more secure and less penetrable is becoming part of expected business governance. The pressing question is can South Africa keep up with this?” says David Godfrey, CEO of iConnect.
Godfrey continues, “Artificial intelligence and machine-learning are snowballing automation and increasingly more things are becoming connected through technology. All of this comes with new challenges. Even though businesses in South Africa aren’t oblivious to the potential threats facing our industries from insecure data. The lack of overall skills in most technical environments makes it difficult to deal with.
In a struggling economy the high cost of network and end-point security creates a situation where fewer companies can afford it. Yet, if they don’t install a compliant solution soon, they won’t adhere to evolving data-protection laws. This will result in hefty fines and therein lies the catch”
Do we understand the future threats?
Godfrey explains that other complexities could unfold. “Insecure data can be hugely detrimental”. Consider what would happen if power utilities were infiltrated and certain parameters could be adjusted by hackers. This could render transformers unstable and bring down the whole grid! A worst-case scenario that could take months to repair and potentially bring a city to its knees.”
A more likely and relatable scenario perhaps, is ransomware created by cybercriminals that will cost business lots of time and money to resolve.
An alarming reality
According to iConnect data, enterprise-grade clients have especially invested heavily in security. Whilst many SME and QSE companies have yet to buy into the protection of their data.
Two major cybersecurity crimes to protect your business against
It’s imperative for companies of all sizes to reconsider their current network and end-point security solutions. This would ensure them not landing up a victim of:
Ransomware attacks It’s now easy for what’s known as “malware” to track and steal information from your server consistently, without anyone noticing. And then using this information to lock you out of your own crucial systems or data.
“Spear-Phishing” is becoming increasingly relevant. This is where people get targeted through their email accounts and hackers use clever tactics to get victims' cooperation. This is intended to steal data for malicious purposes.
Contact iConnect for Security advice about your business today.