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Ransomware thrives in SA
Ransomware industry flourishes in SA while business are largely unprepared for the business interruption and financial fallout of a breach
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Ransomware industry flourishes in SA while business are largely unprepared for the business interruption and financial fallout of a breach
How do you protect yourself?
According to Aon’s 2019 Global Risk Management Survey , the use of cyber risk assessments has risen 16% since 2015. However, only 59% apply any formal process to identify and evaluate their cyber risks.
The majority are also not using any financial metrics to communicate the materiality of cyber exposure. The general trend globally, specifically to cyber risks, is that organisations do not understand their biggest cyber risks and the implications they have for operations and the balance sheet.
“Whether you are a big or small operator, your company’s ability to protect against and recover from ransomware attacks rely on implementing proactive technical measures, business continuity plans and insurance to mitigate the financial and liability fallout. With a qualified risk advisor versed in the cyber risks facing South African businesses of all sizes, your organisation will be able to take the business through a comprehensive cyber risk assessment that will help quantify the risks your organisation is exposed to, as well as the potential fallout or financial quantum of such an incident. Having a built-for-purpose cyber insurance regime in place that is supported by an airtight incident response process will go a long way in achieving a cyber resilient operation,” concludes Zamani.
Aon highlights four crucial steps to building a cyber resilient organisation:
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