Traditional brick and mortar businesses had to at least offer an online component to customers. Schooling and meetings went online. Employees saw the rise of the hybrid working model, which now sees them working both in an office and at home on different days of the week.
The need for connectivity underpinned all these developments; none of them could function satisfactorily without dependable, stable, and fast online connections. But what many may have overlooked about our ever increasingly online world, is that it has broadened the space in which cybercriminals operate, and there is hardly any connected body corporations, NGOs, governments, and citizens who are not a potential target.
A recent study compiled by Liquid Intelligent Technologies, highlights that there is a key trend that cyber criminals are becoming more targeted and organised in their breach attempts in Africa. As one of the fastest growing regions internationally, Africa will have around 1 billion internet users by the end of 2022.
The study notes that as the continent is ‘also the world leader in the use of digital money transfers, it is particularly vulnerable to cybercrime, especially as cyber security laws and regulations trail those in other countries significantly.’
Due to the increase in this type of criminality, education about how to guard against it is now more vital than ever before. It is important for employees to be continually educated on what constitutes good cyber security hygiene.
Adoption of cyber security best practices are easy to learn. But, while educating their staff about how to avoid cyber-attacks is vital, businesses also need more robust cyber security measures in place. Whatever their size or model, companies need to guard against attacks such as identity theft, email compromise and more.
In the study, Liquid spoke with IT and cyber security decision-makers in east and the southern African countries to understand the evolving threat landscape and its likely impact on businesses. The final report paints a rather disturbing picture in that it shows:
- A high increase in both the frequency and technological prowess of cybercrime being identified - Corporations on the continent are more vulnerable to breaches as it is estimated that over 50% of African countries have inadequate safeguards - Cyber security legislation and regulations are lax or non-existent, making cybercrime easier for cybercriminals
Cybercrime can have severe impacts on any business. As the study reveals, these can range from financial (26%), to information theft (18%), to reputational damage (17%) to the disruption of business operations (14%). While most companies the study sampled all increased their cyber security measures in 2021, 79% of them declared that they’d seen an increase in cyber security threats in the same year, a significant increase on the previous year. Last year, a report released by Interpol noted that the growing demand in Africa for digital services has put a spotlight on the continent’s cyber security shortcomings. The same study states:
“The unique challenge for Africa appears to be the critical absence of cyber security protocol, cyber resilience as well as mitigation and prevention measures for individuals and businesses. As a region that is embracing digital transformation, Africa needs to invest extensively in improving the safety and security of cyberspace.”
Considering these reports, the only effective way to ensure your business is protected is to have a resilient cyber security framework in place.
As one of Africa’s leading cyber security providers, Liquid Intelligent Technologies offers end-to-end managed security services for digital solutions, for businesses of any size. These include measures such as secure email, firewalls for network defence, anti-virus software, and managed networks to protect outside users such as consumers. In addition, Liquid believes in training employees to be the first and best line of defence against cyber-attacks.
Our offerings are designed to secure customers at every intersection of their digitally transformed business. They cover all aspects of security, minimising the opportunity for breaches and risks.
Cyber security should be a major priority in Botswana, for businesses, governments, NGOs, and individuals. Cybercrime is not going away, and we all need to be on our guard against it.
*Tamajobe is Managing Director, Liquid Intelligent Technologies, Botswana
