JOHANNESBURG – In relative terms, South Africa is still new to the Black Friday concept, where retailers offer massive discounts on goods and services over the last weekend of November.
With online shopping gaining significant traction in South Africa, more consumers are avoiding the crushing queues and shopping madness that comes with Black Friday and opting to do their shopping online, from the comfort of their home.
Expanding into online business models exposes retailers to a host of inherent cyber risks, especially in the context of South Africa having the third highest number of cybercrime victims worldwide, losing around R2.2bn a year in cyber-attacks, according to the South African Banking Risk Information Centre (SABRIC).
Point-of-sale and ERP systems used in-store to process purchases are equally at risk of a major cyber take-down that could leave…
