by AKANI CHAUKE
JOHANNESBURG – A MAJORITY of organisations in South Africa are vulnerable to modern cyber security risks.
This is according to the first Cybersecurity Readiness Index, indicating that a mere 19 percent of the organizations are resilient, or at the Mature stage.
Alongside the finding, 52 percent of companies fall into the Beginner (8 percent) or Formative (44 percent) stages.
While organisations in South Africa are faring better than the global average (15 percent of companies in the Mature stage), the number is still low, given the risks.
In addition, 65 percent of respondents said they expect a cyber security incident to disrupt their business in the next 12 to 24 months.
The cost of being unprepared can be substantial, as 57 percent of respondents said they had a cyber security incident in the last 12 months and 17 percent of those affected said it cost them at least US$500 000.
“The move to a hybrid world has fundamentally changed the landscape for companies and created even greater cybersecurity complexity,” said Jeetu Patel, Executive Vice President and General Manager of Security and Collaboration at Cisco.
The official said organisations must stop approaching defense with a mix of point tools and instead, consider integrated platforms to achieve security resilience while reducing complexity.
“Only then will businesses be able to close the cybersecurity readiness gap,” Patel added.
The index has been developed against the backdrop of a post-COVID, hybrid world.
– CAJ News