The 2019 FTI Resilience Barometer ranked cyber attacks as a top concern for South African businesses in the G20.
South Africa is a target firmly in the view of cyber threat actors today. The Country’s move towards digital transformation, combined with a regulatory and judicial environment that is still grappling to achieve greater effectiveness, leaves it in a vulnerable position.
In the past few years, South Africa has experienced significant breaches across a range of industries. Its banks have been silently robbed of millions, hundreds of thousands of identities have been stolen, and corporates have been held ransom, demanding a payment of usually Bitcoin to grant them access to their own data. Adding insult to injury, the attackers even provide a 24/7 support desk to help make Bitcoin payment. This problem is not exclusive to South Africa.