Investing in detection tools to mitigate cyber threats

The world of cybersecurity continues to evolve rapidly, with cyber threats becoming increasingly sophisticated and prevalent. Kevin Kanyi, Head of Threat Intelligence at Cyberguard Africa, recently joined CNBC Africa to discuss the importance of investing in detection tools to mitigate cyber threats, as well as the new trends expected to drive cyber attacks in 2024. Kanyi highlighted several key threats and trends that companies need to be aware of in order to protect their data and systems. According to Kanyi, ransomware attacks have been on the rise across Africa, with even governments falling victim to these malicious attacks. Additionally, cloud security remains a significant concern as more companies in Africa transition to digital transformation. The risks associated with employees working from home also pose a threat, as companies struggle to monitor and secure their remote workforce effectively. Phishing attacks, aided by advances in technology like AI, continue to target individuals and organizations, making it essential for companies to educate their employees on identifying and avoiding such threats. Another critical issue highlighted by Kanyi is the importance of understanding and securing attack surfaces for companies. Many organizations are unaware of the extent to which their assets are exposed outside the company, leaving them vulnerable to cyber attacks. Kanyi also addressed the challenges faced by companies transitioning to cloud environments. He emphasized the need for companies to understand the data they are moving to the cloud and to implement the necessary security controls to protect that data. Kanyi recommended a three-pronged approach to securing cloud environments, focusing on people, processes, and technology. Companies must ensure they have the necessary skills, processes, and technology in place to protect their cloud infrastructure effectively. When it comes to investing in cyber tech, Kanyi advised companies to understand their adversaries and prioritize their investments based on the specific threats they face. By identifying the key items that attackers are likely to target, companies can allocate their budget more effectively and mitigate the most critical risks first. Kanyi also suggested leveraging open source tools as a cost-effective way to enhance security posture, but stressed the importance of vetting these tools for security and reliability. Overall, Kanyi's insights underscore the critical need for companies to invest in detection tools and cybersecurity measures to mitigate the growing threat of cyber attacks in 2024 and beyond.