Digital businesses need to adopt a more proactive approach to cyber-security that entails a better understanding of the risks. This is according to LUSHEN PADAYACHI, Head of Security, BT in Africa.
With the size of the internet economy alone estimated to be about $4.2 trillion in 2016 and online trade accounting for an ever-increasing share of global GDP, criminals inevitably see opportunities in the vulnerabilities of digital businesses. And although awareness of the threat has never been higher, the majority of businesses do not comprehend the methods and motivations of the attackers or fully understand the scale of this threat. In fact, according to research2 97% of companies surveyed have been the victim of digital attacks, yet only 22% are fully prepared to deal with such incidents in the future.
This, Lushen believes, is reflective of global security trends where malicious users are targeting business and its sensitive back-end data, and businesses globally and locally are struggling to keep up with effective protection methods, tools and strategies.
“While there is increased awareness around security issues in corporate South Africa, a lot more work needs to be done to educate the market. Far too many companies adopt a reactive style of cyber-policing. While this might have worked a few years ago, the increasingly sophisticated types of attacks occurring means that it might take months before some data breaches are even discovered – and this can be fatal to a business’s operations,” says Lushen.
By then, the damage would be significant especially considering how data has grown in recent times and its importance to derive competitive advantage. In fact, digital crime currently costs the world in the region of $400 billion3 every year – a massive risk to the continued growth of our digital economy.
“With data playing such a critical role in the digital business, and the digital economy becoming a significant driver, corporates need to take cyber-security more seriously than ever before. In South Africa with its complex regulatory and compliance environment, the pressure is even more significant on ensuring that customer data is protected.”
Pointedly to this, businesses must be as agile and quick on their feet as their criminal assailants, but many feel that their response is hampered by regulation (49%2), lack of skills and people
(45%), reliance on legacy systems (46%), inflexible processes within the organisation (38%) and reliance on third parties (94%).
This, he says, plays to the fear of losing private data and what it means for not only consumers, but the organisations that need to safeguard it. Irrespective of the financial loss these breaches could have, the reputational ones are substantial.
“Security is about trust and transparency. Organisations who fail to develop a clear idea of the risks and the strategies that are required to protect data, will not survive long in this new digital age. One of the best ways to go about doing this is to understand how attacks take place. By taking the time to invest in understanding the threats, the organisation will be able to identify the weak points in its cyber-security policies.”
As with all things related to ICT, the security landscape is constantly changing. Companies therefore need to understand both the imminent threats as well as the ones they might face in two or three years’ time. Part of this is to conduct a thorough audit of the corporate network. By examining all channels associated to data input and output, the business will get a clearer idea of the security priorities.
“Thanks to the growth of internet connectivity in South Africa, the country is becoming less isolated in the global market. However, this also means that companies are likely to attract the attention of malicious users – many of whom might pursue a hacktivist agenda. Ultimately, behaviour needs to change when it comes to cyber-security. The way forward lies in ensuring the security is central to delivering strategic goals of the company. This takes us way beyond putting up fences. Companies need to take initiative and start being more proactive now,” says Lushen.
Welcome to world of 2099
The world of 2099 will be unrecognisable from the world of today, but it can be predicted, says one visionary. ARTHUR GOLDSTUCK met him in Singapore.
Futuristic structures tower over the landscape. Giant, alien-looking trees light up with dazzling colours amid the hundreds of plant species that grow up their trunks. Cosmetic stores sell their wares via public touch-screens, with products delivered instantly in drawers below the screens.
This is not a vision of the future. It is a sample of Singapore today. But it is also an inkling of the world we may all experience in the future.
Singapore was the venue, last week, of the World Cities Summit, where engineers, politicians, investors and visionaries rubbed shoulders as they talked about the strategies and policies that would enhance urban living in the future.
As part of the Summit, global payment technologies leader Mastercard hosted a small media briefing by one of Singapore’s leading thinkers about the future, Dr Damian Tan, managing director of Vickers Venture Partners. The company’s slogan “We invest in the extraordinary,” offers a small clue to Tan’s perspective.
“We look as far forward as 2099 because, as a venture capital firm, we invest in the long term,” he tells a group of journalists from Africa and the Middle East. “Companies explode in growth because there is value in the future. If there is no growth, they won’t explode.”
The big question that the Smart Cities Summit and Mastercard are trying to help answer is, what will cities look like in the year 2099? Tan can’t give an exact answer, but he offers a framework that helps one approach the question.
“If you want to look at 81 years into the future, and understand the change that will come, you need to double that amount and look into the past. That takes us to 1856. The difference between then and now is the difference you can expect between now and 2099.”
Click here or on the page link below to read on: Page 2: Soldiers and Health in 2099.
- Arthur Goldstuck is founder of World Wide Worx and editor-in-chief of Gadget.co.za. Follow him on Twitter on @art2gee and on YouTube
Street art goes electric
Kaspersky Lab and British street artist D*Face have unveiled the first-ever “art helmet” design at the Formula E finale for electric cars in New York.
The ‘Save The World’ helmets will be raced by DS Virgin Racing’s drivers, Sam Bird and Alex Lynn, as they traverse the New York street circuit during the final races of the Formula E season.
The announcement signals the first art helmet by a Formula E team, continuing the heritage of art in motorsport and the cybersecurity brand’s commitment to contemporary art, creativity and innovation. D*Face took inspiration from Kaspersky Lab’s tagline, “A Company To Save The World”, and hopes that his colourful work will inspire people to take positive action.
D*Face will announce his first-ever art car design with a custom-made livery for the DS Virgin Racing Team. Its design will be released at the “Art Goes Green” event after Saturday’s race. The helmets and art car are the latest installations in the “Save the World” collection, following a major permanent public mural that was installed in Brooklyn, New York, in May.
D*Face, whose real name is Dean Stockton, said: “It is exciting to work with Kaspersky Lab on this project and create art with a real message of hope for a better future. After all, this is our world and we need to look after it. It will take every one of us to make a real lasting, impactful change. I love the mentality of the DS Virgin Racing Team and that of Formula E by showcasing sport in a way that doesn’t harm the environment, but is still just as exhilarating and fun.
“It is time for us all to stand together and make a change… be that stopping data steals, climate change, plastic waste or using damaging fuels. I want everyone to make a pledge to do one thing that will help make a change.”
As a sponsor of DS Virgin Racing Team, Kaspersky Lab is responsible for protecting the team’s devices against cyber threats. The company sees the technical environment in the global sport of Formula E as the next frontier in furthering its research and development of new technologies to keep vehicles secure in the digital world.
Sylvain Filippi, Managing Director at DS Virgin Racing, said: “The whole team fully supports this great initiative and our thanks got to Kaspersky and D*Face for their collaboration. It’s an honour to have such an innovative artist bring his talents to bear in our team ahead of the season-finale; the car, drivers’ crash helmets and mural all look amazing.”
Aldo Fucelli Pessot del Bo, Head of Global Partnerships and Sponsorships at Kaspersky Lab added: “There is a need for innovation on a global scale, both in contemporary art and in the fast-growing sport of Formula E. Now, for the first time ever, Kaspersky Lab is proudly bringing together the two sectors in an effort to Save the World and unleash creativity, encourage freedom of expression and further innovation.”