South Africa's Risk four: Cyber vulnerabilities

[Neville]

I quote from http://a.msn.com/00/en-za/AAgvVP4?ocid=se :

"South Africa is in no position to defend itself or its businesses against cyber crime. Last year, more than R2-billion was lost to cyber crime, making this a major criminal threat. In fact, South Africa is the most targeted country in Africa. Unless the government works with businesses to educate them, and initiates some kind of protection programme, it won’t make up the ground already lost against the hackers — leaving both companies and individuals vulnerable."

This is as per an international risk rating company...wow! In some warped way one could argue the fact that SA is such a target for cyber crime means that at least we have some sort of cyber relevance and currency that others out there want.. interesting though.

Would be interesting to know more detail about the R2-billion lost...i.e. what type of losses? Loss due to productivity loss due to malicious hacking, or actual monetary loss due to "cyber theft" of funds or assets...?

 

[Zipkoppie]

It includes all of the above, from private individuals being scammed with a 419 scam all the way up to "cyber heists" where IP or money is stolen.

 

[Insider Threat Model]

I quote from http://a.msn.com/00/en-za/AAgvVP4?ocid=se :

"South Africa is in no position to defend itself or its businesses against cyber crime. Last year, more than R2-billion was lost to cyber crime, making this a major criminal threat. In fact, South Africa is the most targeted country in Africa. Unless the government works with businesses to educate them, and initiates some kind of protection programme, it won’t make up the ground already lost against the hackers — leaving both companies and individuals vulnerable."

This is as per an international risk rating company...wow! In some warped way one could argue the fact that SA is such a target for cyber crime means that at least we have some sort of cyber relevance and currency that others out there want.. interesting though.

Would be interesting to know more detail about the R2-billion lost...i.e. what type of losses? Loss due to productivity loss due to malicious hacking, or actual monetary loss due to "cyber theft" of funds or assets...?

Terribly written article.
The author does not know the difference between a threat and a risk.