SA SMES face cyber threats | Cybercrime

26 Jul

Cybercrime: SA companies still at risk

Scores of well-known companies across South Africa from ABSA to Dis-Chem, Shoprite to Transnet and many more, have fallen victim to cybercriminals over the past 12 months – yet businesses remain disturbingly unprepared for a cyberattack.

We take a look at the latest findings from Kaspersky’s annual cybersecurity survey and interpret them in the context of rising online crime threats facing the country to give business owners insights into how to improve their own security.

2022: a marked increase in cyberattacks

Large data leaks and ransomware attacks are becoming commonplace in South Africa, with small to large corporations, credit bureaus, and government departments being targeted.

The recent leaking of President Ramaphosa’s personal details show just how brazen cybercriminals have become, and how even world leaders aren’t safe from their illegal activities.

under attack: South African SMEs face cyber threats

South African small and medium enterprises are increasingly falling victim to the threat of cyberattacks in the form of continuous phishing and ransomware attacks.

  • According to Kaspersky’s annual cyber threat survey, Trojan-PSW attacks (a malware that steals passwords and other data) have increased 69% over the past year, despite a 13% reduction in internet attacks which could reverse at any time.
  • While internet attacks, which target web pages and site exploits, were 13% lower in the first quarter of 2022, the number of attacks still remains concerningly high.
  • The increase in cybercrimes may be linked to the work from home phenomenon that emerged in 2020 and continued into last year, with remote desktop protocols providing cybercriminals with a new avenue of attack.
  • Despite these worrying numbers, local businesses are still lagging behind when it comes to cybersecurity and response measures.
  • Considering the potential for financial and reputational damage that a small business could suffer in the wake of a cyberattack, now is not the time to take a laid-back approach to online security.

Here are some measures that businesses can take to keep their data safe

  • Invest in a comprehensive cybersecurity system. This will allow IT experts to track, monitor, and visualise the state of your company’s data before, during and after an attack.
  • Move away from physical storage. A secure cloud storage solution is a key weapon in the fight against cybercriminals, decentralising your data and encrypting it so that it can’t be used even if it’s compromised.
  • Take cybersecurity training seriously. Every employee is a soldier in the war against data-related crime. By empowering your team with training that will help them identify and report suspicious activities, you’ll be creating a wall of steel around your business.

A successful cybersecurity system that can keep you ahead of the curve against cybercriminals starts with tight data security. Check out our secure cloud storage packages today and choose a solution that suits your business.

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