With October being Cyber Security Awareness Month, the question all business owners need to ask themselves is “Are you cybersure?” Cybercrime is real, and it’s on the increase. According to the Norton Cyber Security Insights Report, 84% of adults who are online in SA have already been victims of cybercrime, and a massive 74% of these have experienced cybercrime in the past year. South Africa also ranks in the top 10 on the FBI’s cybercrime predator list, which means that there’s an increasing amount of fraud being perpetrated from SA too. When an organisation falls victim to cybercrime it is exposed to a multitude of risks, which Santam Limited identified as including loss of revenue, loss of data, loss of competitive advantage, industry and regulatory fines and penalties and fraud. Talking to Teboho Mafodi about cybercrime and the risks it poses to South African businesses, is Mr Wynand van Vuuren – head of legal and claims at King Price, as well as Lunga Siyo – executive head of e-commerce at Standard Bank SA.
