Growing concern over Global Cyber Security

Johannesburg: 2 July 2017

The recent WannaCry and Petya ransomware attacks over the space of a month have emphasized the importance of preventing system breaches, and of providing an immediate and structured response to breaches.

Recent research in the UK indicates that ransomware attacks 44% of businesses and that 30% of companies suffer daily attacks.

Even more startling is the fact that the average cost of a security breach in the UK is R 40,5 million, whilst DDoS attacks costs an average of R 500 000 an hour to defend.

The research also indicates that 45% of UK businesses have no cyber security strategy whatsoever. Added to this is that fact that 33% of businesses spend nothing on cyber security, and only 20% of employees have cyber training.

Sorely missing is the fact that there is no national comparable research available, but what cannot be glossed over is the fact that these figures are just as relevant to the South African businesses.

“This recent research is consistent with our own view on the dire consequences of cyber threats to local businesses, and the urgent need to increase the awareness of this across the business community – to all companies, big and small,” said Roi Shaposhnik, Head of International Sales, Secnovate.

“There is an urgent need to increase our local defence prevention and mechanisms, especially as this relates to the training and awareness of all personnel – from top to bottom”.