Most companies and individuals are aware that cyber crimes such as phishing scams and ransomware are real. But just how real are we talking?
Currently, cyber crimes rack up a $600-billion global cost, and this number is estimated to climb to $6-trillion per annum by 2021. According to the South African Banking Risk Information Centre (SABRIC), SA has one of the highest number of cyber crime victims in the world. R2.2-billion is lost to these types of attacks annually.
The first step to combatting any problem is first realising there is one. Cybersecurity is no longer only an item on IT’s to-dos, but should be one of the top points of the organisation’s agenda. Why? Because the more your company shifts towards digital transformation and all the benefits this can unlock, the larger this cyber threat becomes. Any business with data to capture, irrespective of its’ size and worth, is at risk.
Luckily, there are superior technological advancements to protect a company’s software and hardware. Make sure your company invests in the most appropriate for your level of operation. From firewalls to data encryptions all have a role to play.
Cyber crimes are constantly evolving and trying to outsmart current protocols. It is therefore worth it to investigate Cyber Threat Intelligence (CTI). CTI companies will investigate, collect and analyse a corporation’s past, current and future threats so as to offer an actionable cyber risk management solution. This is a proactive approach to prevent cybersecurity breaches.
In most cases malware programmes gain access to a company’s server as a result of an employee clicking on a malicious link (via email or a pop-up). That’s why it is vital that employees are educated and trained on the threat of cyber crime and the important role everyone has in safeguarding the company’s and its customers’ data.
Smart, cloud-based and automated business solutions form a critical part of a company’s digital transformation. At MWare, we offer businesses a number of cloud-based solutions to simplify and streamline everything from the financial side of your business to its mobile workforce. Now, with our latest product, WebRoot, we can ensure your business’ online security as well.