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

Don’t get hacked this holiday

Public Wi-Fi isn’t as safe as you might think, warns Eset. Read More

Regin: a malicious platform capable of spying on GSM networks

Kaspersky Lab’s Global Research and Analysis Team has published its research on Regin – the first cyber-attack platform known to penetrate and monitor GSM networks in addition to other “standard” spying tasks.  Read More

Security a top priority as Africa moves to LTE

Securing the network is a top priority for telcos and carriers as LTE becomes increasingly mainstream across Africa, says Fortinet. Read More

Barclays ropes in ICT taskforce in anti-fraud war

Barclays Bank of Botswana (BBB) has roped in experts in the field of Information Technology and cybercrime to give weight to its annual fraud awareness month. Read More

Kaspersky Lab: Most businesses use third-party services to manage virtualisation

Less than one-third of businesses keep their virtualisation servers on-premises and managed entirely by their own internal IT staff, according to a Kaspersky Lab survey of 3,900 IT professionals worldwide.  Read More

Cisco: Employee complacency increases risk

Kian Ellens Research released by Cisco shows that critical company data is at risk in South Africa as a result of organisations focusing IT security policies and resources more on external threats and not enough on the threat from within.    Read More

Cyber security workshop set for Wednesday

The African Cyber Risk institute (ACRI) will host a cyber security conference in Gaborone on the 29th of October.  Read More

Kaspersky Lab: Ebola hook in “Nigerian” spam

In September spammers produced topical new versions of the old “Nigerian Letter” scam, this time based on the Ebola virus.  Read More

Cisco warns of unprecedented growth of malicious traffic

Threats designed to take advantage of users’ trust in systems, applications and personal networks have reached startling levels, a new report by Cisco reveals. Read More

Users cover webcams due to spying fears

Kaspersky Lab research has found a large proportion of computer users cover up their webcams for fear of being spied on. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.