Why cybercrime remains a top concern for SA businesses

In a world where technology is constantly evolving and cyber threats are on the rise, businesses across the globe, including in South Africa, are facing an increasing risk of cybercrime. Jordan Rae Kelly, Senior Managing Director at FTI Consulting, emphasized the importance of cyber resilience and the need for organizations to be prepared to bounce back in the face of cyber threats. She pointed out that all companies need to be concerned about their cybersecurity posture, identifying their most valuable data and ensuring it is adequately protected. Cyber attacks are a real and significant threat that organizations must address to safeguard their operations and reputation. According to Kelly, cyber resilience involves more than just having backups, as restoring from backups may not always be a foolproof solution and could result in significant downtime for businesses. The key to cyber resilience lies in understanding the risks, educating employees, and building a strong cybersecurity culture within the organization. The interview also touched on the challenges law enforcement agencies like the FBI face in combating cyber criminals, who operate in a borderless and lawless environment. The dark web, a breeding ground for cybercrime activities, poses a significant threat to individuals and businesses who may fall victim to stolen credentials being sold on these platforms. Kelly highlighted the importance of monitoring one's dark web presence and taking proactive steps to mitigate potential risks. She also shared insights from her past experience as an FBI agent, underscoring the need for constant vigilance and collaboration between industry and government to stay ahead of cyber threats. As technological advances continue to revolutionize industries, companies must prioritize cybersecurity awareness and resilience to fend off potential cyber attacks. Cybersecurity Awareness Month serves as a timely reminder for businesses and individuals to ramp up their efforts in safeguarding against cyber threats. By educating employees, implementing robust cybersecurity measures, and staying informed on the latest trends in cybercrime, organizations can enhance their defenses and reduce the likelihood of falling victim to cyber attacks. Despite the evolving nature of cyber threats, proactive cybersecurity measures and a strong cyber resilience strategy can help businesses navigate the complex cybersecurity landscape and protect their most valuable assets. As the digital landscape continues to expand, the need for robust cybersecurity practices becomes increasingly vital for businesses to mitigate the risks posed by cybercrime.