According to the newly released State of Cybersecurity in South Africa report, nearly three-quarters of South Africa’s top 100 corporates are investing more in cybersecurity than the industry average, but an almost equal proportion don’t feel fully protected by their current cybersecurity strategy.
The new study, conducted by World Wide Worx on behalf of Intel and Dell Technologies South Africa, reveals that half of South African large businesses are over budget on cybersecurity spend, and just over half feel there are now more threats introduced by remote work culture.
Budgeting for breaches
“Corporations being over-budget on cybersecurity spend may look like a positive sign, but it also raises the likelihood that the budgets were too low to begin,” says World Wide Worx CEO Arthur Goldstuck, principal analyst on the research project.
“In the game of cybercrime cat and mouse, one could argue there is no such thing as being over-resourced. However, under-resourcing not only exposes companies to risk, but also poses an existential threat. A major breach can bring down a company. Budgets must catch up to the significance of the threat.”
Challenges range from these macro threats…
