Malware and Ransomware News
Cybercrime is growing rapidly, and organizations that fail to adapt are at serious risk. With cybercrime expected to cost the world $10.5 trillion by 2025, staying passive isn't an option. Vulnerabilities like misconfigurations and AI-driven attacks leave businesses exposed to catastrophic damage.
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Don’t wait until it’s too late. Strengthen your defenses now or risk being left behind in a world where cyber threats are escalating every day.
15 October 2024
Of the 500 organizations surveyed, 63.2% reported experiencing at least one ransomware attack in the past 24 months. The financial impact of these incidents has been significant, with losses running into the tens of millions of rands. Fourteen businesses reported individual losses exceeding R10 million.
14 October 2024
https://mybroadband.co.za/news/security/564705-south-africa-r49-million-cybersecurity-pain.html
South Africa's average data breach cost of R49 million has placed the country 14th among countries hardest-hit by such attacks.
9 October 2024
Cyber security incidents in South Africa are now at the same scale as corruption in the country, with significant financial implications.
2 October 2024
https://www.investec.com/en_za/focus/money/cybersecurity-in-south-africa-2024.html
Investec: Cybercrime is expected to cost the world $10.5 trillion annually by 2025, far exceeding the global cybersecurity market.
Advanced Threat Detection Tools
Tools designed for advanced threat detection can identify signs of persistent attacks, such as those carried out by Ryuk ransomware. This ransomware typically starts with phishing emails or malicious downloads. Advanced detection tools identify suspicious behavior long before the ransomware fully infiltrates a system, enabling security teams to stop the attack before significant damage occurs.
30 September 2024
Falling victim to a ransomware attack is becoming a matter of "when" rather than "if," with 80% of organizations surveyed reporting that they have been targeted. On average, 30% of data is permanently lost after a successful attack, and the recovery process is both time-consuming and highly disruptive to business operations.
6 September 2024
Unlike automated ransomware attacks, human-operated ransomware involves skilled cybercriminals who can adjust their tactics in real-time, making them more disruptive and challenging to neutralize.
18 July 2024
https://cms-lawnow.com/en/ealerts/2022/07/the-rapid-rise-of-cyber-risk-in-south-africa
South Africa has rapidly garnered the reputation of a global hot spot for cybercrime, ranking sixth in the world for cyber crime density.
8 August 2024
Eskom fends off up to one billion attempted cyber incidents per month, according to chief information security officer (CISO) Sithembile Songo.
16 July 2024
https://techpoint.africa/2024/07/16/report-puts-african-nations-malware/
Several African countries, including Ethiopia, Zimbabwe, Angola, and Kenya, are among the most attacked by malware, according to the Global Threat Index for June 2024.
2 June 2024
https://therecord.media/south-africa-lab-ransomware-mpox-outbreak
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The ransomware attack has raised concerns in South Africa, especially with the ongoing mpox outbreak, as the National Health Laboratory Service (NHLS) plays a critical role in providing testing services for public healthcare facilities nationwide.
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Over the past year, ransomware gangs have increasingly targeted South African government institutions, including a state-owned bank, the Department of Defence, and the International Trade Administration Commission, exposing vulnerabilities in the country's cybersecurity defenses.
24 April 2024
https://www.ft.com/content/53758c43-9349-4f01-9c2c-b452822a3e7e
The speed of digital adoption in Africa is "outpacing the development of robust cyber security measures, and general awareness of cyber threats is low," creating a "worrying, widening gap in defences which cyber criminals are exploiting."
April 24 2024
The Communications Authority of Kenya (CA) has raised concerns about a significant rise in cyberattacks, particularly those using artificial intelligence (AI). Over the past year, attacks targeting Kenya increased more than fivefold. Between January and March, the National Kenya Computer Incident Response Team Coordination Centre detected over 971 million cyberattacks.
2 June 2020
https://www.news24.com/news24/bi-archive/sa-third-highest-number-of-cybercrime-victims-2020-6
Last year, South Africa had the third-highest number of cybercrime victims of any country, despite ranking 25th in population, a new report by consultancy Accenture shows.
27 May 2020
https://www.accenture.com/za-en/insights/security/cyberthreat-south-africa
South Africa has the third-highest number of cybercrime victims worldwide, losing approximately R2.2 billion (US$147 million) a year to cyberattacks.
The Reality of Cybercrime: Don’t Fall Behind
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Cybercrime is not just a technical issue—it’s a direct threat to your organization’s survival. This isn’t just about financial losses; your reputation is on the line. A single breach can destroy the trust of clients, partners, and the public, leading to long-term brand damage that no amount of compensation can fix.
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As a CEO, board member, parliamentarian, or even a president, the stakes are even higher. You may face personal legal liability for failing to protect sensitive data, comply with regulations, or maintain proper cybersecurity practices.
The pressure is on you to act—waiting could expose your organization, and your leadership, to catastrophic consequences.
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You have no time to wait. Every second you delay puts your organization, your career, and your country's security at greater risk.
Strengthen your defenses today, or risk losing everything tomorrow.