Cyberattacks are considered the biggest threat any South African business will face.
Cyberattacks have been listed as the top threat South African businesses face, according to the Allianz Risk Barometer report for 2018.
Thirty-eight per cent of the responses indicated that cyberattacks are the largest threat a South African business will face. The Allianz Risk Barometer is based on the insight on over 1 900 risk management experts from 80 different countries. The report established that other problems which businesses face include business interruptions as well as climate change and the increasing volatility of weather patterns.
Multiple threats such as data breaches, network liability and hacker attacks make cyberattacks the largest threat, not only in South Africa but in countries around the world. In October last year, more than 30 million South Africans’ personal information was exposed online in what is considered the country’s biggest data breach. The potential for so-called ‘cyber hurricane’ events to occur, where hackers disrupt larger numbers of companies by targeting common infrastructure dependencies, will continue to grow…
