The Cyberattack Pandemic, What can Businesses do?
A few years from now, the coronavirus pandemic may be a distant nightmare, but world experts are warning against a more discrete and equally destructive economic threat: cyberattacks, and they could come sooner than we anticipate, says Matthew Garrun in the latest FIA Insight magazine.
Many South African businesses would not believe that we are already the sixth most exposed country to cybercrime in the world, according to the Cyber Exposure Index. With South Africa in the throes of battling the Covid-19 pandemic, there have already been some major attacks impacting some notable South African brands. Covid-19 has provided a haven for attackers to exploit vulnerabilities in our current remote working, uncertain, anxiety ridden environment. This is a risk no country can afford to ignore. A strong economy is built on protected networks, he says.
Matthew Garrun explains in his article that the economic impact of cybercrime can be devastating and although there is no silver bullet to protect a business from a cyber incident, there are some reasonable steps businesses can take to show due care.