SA cyber threat barometer released

SECURITY

|
Image: Craig Rosewarne. By BiztechAfrica
Craig Rosewarne

With over R2.6bn stolen in cybercrimes in SA in the past 18 months, a new report maps out the biggest cyber threats in the country.

The 2012/13 South African Cyber Threat Barometer was released by IT security firm Wolfpack Information Risk in Johannesburg today. Wolfpack Managing Director Craig Rosewarne said the report was the result of extensive research into the cyber threat landscape in South Africa.

“The report is intended to provide ongoing insight to support the Cabinet’s recently-approved National Cyber Security Policy Framework,” he said, and was researched and compiled with the support of the British High Commission.

Rosewarne said while the true cost of cyber crime was difficult to assess, conservative estimates showed that over R2.6 billion rand had been stolen in cyber crimes in the country in the past 18 months. With a recovery rate of up to 75%, much of the stolen money had been recovered, but the impact and additional costs of cyber crime were far greater than this, he noted. Relatively few cyber crimes are reported and successfully prosecuted in SA, Rosewarne said.

The report warned that the African continent as a whole is particularly vulnerable to cyber security threats. With cheaper and faster internet, more Africans will be ‘always on’ or continually connected, increasing the number of ‘new’ internet users who are not security-savvy, it said.

Rosewarne noted that cyber crime threatens everyone, and called on the public and private sector to work together to combat it. He said key issues identified in the research included poor threat management, with inadequate maintenance and management of audit logs; the lack of a national Computer Security Incident Response Team (CIRT) in SA and a lack of deep technical skills. He added that archaic processes and a lack of information security skills in law enforcement agencies made reporting and prosecution in cyber crimes difficult.

Collaboration between the public and private sector, specialised training and the establishment of a CIRT were among the recommendations made to combat the threats.

Top threats

Stakeholders in key sectors were polled on what they saw as the greatest potential threats to their industries. The threat of denial of service (DoS) attacks and the unavailability of ICT were cited as the highest potential cyber threats against government and financial sectors and were ranked high in the telecoms sector.

Intrusions and economic fraud were ranked as the second-greatest cyber threats in SA.

On the question of what are seen as the services most likely to be targeted by cyber criminals in SA, respondents said internet banking, e-commerce web sites and social and entertainment web sites were likely targets. Respondents in government felt that critical information infrastructure was also at risk.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE SECURITY NEWS

The importance of password security

Many users assume their passwords are of no value to cyber criminals, says Kaspersky Lab. Read More

MTN Business expands partnership with Samsung to offer enterprise customers increased security

Samsung Electronics South Africa has announced that MTN Business has been appointed as a reseller of Samsung’s KNOX licenses to its customers.  Read More

Ghanaian to moderate Council of Europe Conference on Cybercrime

A Ghanaian cyber security expert, Albert Antwi-Boasiako, has been selected by the Council of Europe to moderate a session at its Cooperation against Cybercrime - Octopus Conference in Strasbourg, France. Read More

Be on the lookout for new cyber threats, warns Kaspersky

Kaspersky Lab has urged Kenyan companies to put the right security and strategies in place against cybercrime to avid losses and reputational damage.  Read More

Threat of cyberattacks on the rise for African companies

Deloitte says cyber criminals are getting smarter and know no boundaries, so companies in Africa need to raise their preparedness. Read More

Kaspersky Lab, ISA combine efforts to protect critical infrastructure

Kaspersky Lab and the International Society of Automation (ISA) have launched a joint education initiative to raise awareness of industrial automation equipment operators about cyber threats.  Read More

Ransomware: don’t pay the cybercriminals

ESET offers tips on how keep PCs protected and avoid supporting cybercrime activities. Read More

Data breaches to cost $2.1 trillion by 2019

New research suggests that the rapid digitisation of consumers’ lives and enterprise records will increase the cost of data breaches to $2.1 trillion globally by 2019. Read More

Betting the farm on untested tech

While a plethora of new payment solutions are coming to market, businesses should be cautious about moving to new solutions just for the sake of it. Read More

Mobile student ID system to authenticate over 2 million Nigerian students

HID Global and Botosoft have built and delivered a system to help the West African Examinations Council (WAEC) register and authenticate Nigerian students. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

IHS plans to inject fresh $500m to grow capacityIHS plans to inject fresh $500m to grow capacity

Mohammed Darwish, managing director of IHS Towers, says the firm will soon inject another $500million into the business after raising some $2.5billion to finance expansion drives. Darwish spoke with biztecafrica.com in Lagos.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.