Page 7 - KZN Business Sense-Vol6 No5

IS 2020 THE TIPPING POINT FOR CYBERSECURITY?

Mr Roshan Morar, race to create new connections that ensuring maximum
Managing Director, and technologies to support cybersecurity vigilance is a vital
Morar Incorporated this cyber growth from corporate goal. Other industries
cyberattacks and risks to these are also recognising that their
W ell it in urgency and frequency. For internet has vastly increased
innovations will also increase
reliance on devices and the
Morar Incorporated as business
their likelihood of being the
certainly seems leaders in this digital age, we target of cyberattacks and as
understand that cybersecurity
such have changed their risk
likely, at the is a key responsibility of profile.
last discussion the executive management
at the World team and of course, its board 3. Include cybersecurity from
Economic members who need to be held the start
Forum in accountable and live up to the It is no longer possible for
January 2020 expectations and responsibilities
it was felt so. Because: placed on them. In the business companies to innovate first and
provide for security and privacy
FACT – Internet users are ever- environment, a company’s second. When a company is
increasing, with even children reputation is everything, and considering adopting or, even
having access to the digital this increasingly depends on more importantly, creating
world from an early age, the how well it manages customer, new technologies, boards must
challenges of disinformation and client and partner information, demand that these technologies CURRENT EFFECT OF CORPORATE
cyberattacks are even rifer, and it makes it even more crucial for conform to their cyber risk CYBERATTACKS
this will only be exacerbated the these customers to know and determinations and that (Obtained from various expert online sources)
more cyber-advanced a country trust that the boards of directors cybersecurity be included by 238 % increase in banking cyberattacks since February 2020
becomes. can make these informed design from the outset.
decisions about cybersecurity,
FACT – It is a vicious cycle after all, it is now vital for long- 4. Familiarise yourself with 141% increase in Phishing styled attacks in the last 3 months
– the more data is created, the term business resilience. cyber ratings and assessments 13% increase of costs of cyberattacks within South Africa yearly
more it is collected: and there Many corporate leaders
is more data being created and So ... What is it that board believed that by adding yet 6.3 % increase of network vulnerability exploits in the last quarter
collected than ever before, members can actually do another cybersecurity tool or
unfortunately, it is not always to enhance their company’s service, their company would 7 % increase of malware activities over the last quarter.
collected within the guidelines cybersecurity maturity? automatically become more
of the Protection of Personal 1. Educate themselves about secure. FALSE – That in itself
Information Act, which is why cyber risks is not enough in today’s world. As a matter of demonstrating in all forms of business
making policy attempts to With greater experience and the current effect of corporate should escalate their efforts
protect this data needs to be Board members don’t need to sophistication, analysts can cyberattacks, above is a table in ensuring the sanctity of the
swift, and it needs to be drastic. be cybersecurity experts, but move from inputs (what tools do with a few statistics showing the corporate landscape. To get a
they do need to become more increase of cyberattacks exploits
FACT – It will fall upon our knowledgeable about cyber they use) to outcomes (what do within global business. comprehensive cyber defence
business leaders to create a risk. Boards also need to hear the tools achieve) to effectively strategy, it is advised that
and accurately assess how well
businesses consult with experts
strong cybersecurity culture – from internal and external a company is ensuring its cyber Most cyber-experts believe that
which needs to become second cyber experts. Every major resilience. the increase in the cyberattacks within the digital forensic and
cybersecurity environments.
nature. company would be wise to have are compounded by socio-
an executive responsible for 5. Embrace cooperation lockdowns wherein some of Cyber defence in all forms
It’s 2020 and believe it or assessing and managing their the unsavoury elements within
not, we are living through cyber risk. They should, on a Cyberattacks used to primarily the global community use of digital forensic and cyber
the Fourth Industrial Revolution defined regular basis, report to be the work of isolated their time to develop, test and security is an ongoing battle. 
– think artificial intelligence, the board and be able to do so individuals, such as criminals launch an increasing number of
autonomous vehicles, voice- rankly, with integrity. or hacktivists, but today they cyberattacks. If you have any inquiries, please don’t
activated assistants, facial or eye are increasingly caused by hesitate to contact:
recognition and digital health- 2. Never assume your industry networked adversaries, such It is therefore critical that Mr Roshan Morar, Managing Director,
care sensors. (Did you ever is safe as organised crime groups and corporate leadership take digital Morar Incorporated
watch Back to the Future?!) Traditionally the financial nation-state-backed actors, protection seriously and make it Toll-Free Number: 0800 212 553
services industry which has making individual defence a focal point during these testing E: info@morar.co.za
The race towards global been the target of historic consistently more challenging. times. Cyber defence champions W: www.morar.co.za
connectivity and digitalisation cyberattacks has long known
goes forth, which means, the

To businesses, business leaders
and employees, we at Morar say:

IS 2020 A TIPPING
Stay vigilant, POINT FOR

stay digitally informed, CYBERSECURITY?

and more importantly,

stay safe.

7