Cyber risk is not well managed

Cyber risk is not well managed

More than one-third of risk professionals throughout Africa, Europe and the Middle East have experienced a material or significantly disruptive loss relating to a data breach or security exploit in the past 24 months, with the average financial impact of these incidents in the region of $2,1-million. The most common EMEA cyber incident was an attack that caused disruption to business and IT operations, according to Aon Risk Solutions in a research report undertaken during March 2015.

Cyber risk is on the business radar

For the first time since 2007, damage to brand and reputation has emerged as the top-ranked risk in Aon’s 2015 Global Risk Management Survey, while cyber risk has entered the top 10 for the first time this year. The connection between these two risks has been felt around the world in 2014, as a rash of data breaches demonstrated the fragile nature of consumer trust in leading corporations.

POPI highlights need for cyber-risk policy

South African businesses are set to face even more legislation with the introduction of the Protection of Personal Information Bill (PoPI). The Bill has taken current restrictions to a whole new level, since it even restricts the way in which you may go about...