By Kevin Wotshela, Managing Director of Magix Cybersecurity
The landscape of digital protection for businesses in South Africa is fraught with complexities and challenges. As technology evolves, so do the threats that jeopardise business data and systems' integrity, confidentiality, and availability.
Here we delve into the key cybersecurity challenges South African businesses must confront and the necessary actions to navigate this risky terrain.
South Africa has experienced a staggering rise in cybercrime, with the South African Banking Risk Information Centre (SABRIC) reporting a 33% increase in cyberattacks in 2023. This alarming trend is expected to persist into 2024, underscoring the urgency for businesses to enhance their cybersecurity measures.
The increasing frequency of cyber incidents makes it clear that reactive approaches are no longer sufficient; proactive strategies are essential.
Ransomware attacks have become more sophisticated, with 78% of South African businesses experiencing such an attack in the past year, according to a survey by Mimecast. The advent of double extortion tactics, where attackers encrypt data and threaten to release sensitive information, adds a new layer of complexity.
Businesses must adopt comprehensive ransomware defences, including regular data backups and advanced threat detection systems.