The 2018 Allianz Risk Barometer report ranks cyber incidents, including cybercrime, IT failure and data breaches, as the number one risk to South African businesses with 38% of respondents citing it as their most important corporate peril, up 8% from last year.
Bhagattjee, speaking on dealing with data breaches, gave examples of organisations whose data had been breached, including Uber, Sony, Walmart, Fedex, JP Morgan, Equifax and, most recently, Facebook.
OPINION: Are employees inviting cyber threats into your organisation and draining resources?
She said in the Equifax data breach, which affected about 150million customers, unauthorised access took place from May to July last year, but the firm only went public about the breach in September.
Equifax lost about a quarter of share value since the disclosure, said…
