Be Cyber Smart: Secure Your Digital Life. October is Cybersecurity Month

As October begins, the world is coming together to raise awareness about cybersecurity. South Africa is joining the global effort to observe Cybersecurity Awareness Month. This initiative serves as a vital reminder of the importance of protecting our digital lives in an increasingly interconnected world. With the rapid growth of technology, South Africans are facing unique cybersecurity challenges that require collective action and heightened awareness.

Not only is there a lack of training and awareness, but the rapid transition to a remote work culture has increased exposure, creating a breeding ground for cyberattacks both in and outside the office, and compromising both personal and business devices. 

The cyber threat landscape in South Africa and Africa

South Africa has experienced a significant rise in cybercrime in recent years. According to the 2023 Cybersecurity Report by the South African Banking Risk Information Centre (SABRIC), 62% of South Africans have experienced some form of cybercrime. This alarming statistic underscores the urgent need for individuals and businesses to prioritise their online security.

In 2023, the most common cyber threats in Africa includes insider threats, social engineering, software update supply chain attacks, phishing attacks,  malware, online shopping fraud, ransomware, Adversary-in-the-middle (AitM) attack, cryptojacking attacks, and IoT botnet distributed denial-of-service attacks.

According to the 2023 Positive Technology report, the most targeted organisations with cyberattacks were those in the financial sector (18%), followed by telecommunications companies (13%), government agencies (12%), and organisations from the trade (12%) and industrial (10%) sectors.

The cost of cybersecurity in South Africa.

According to IBM's annual Cost of a Data Breach Report, the average cost of a data breach in South Africa reached R53.10 million in 2024. This increase is attributed to breaches becoming more disruptive and placing immense pressure on internal cybersecurity teams.

The types of cyber threats facing South Africans include:

• Phishing Attacks: Fraudulent emails or messages designed to trick individuals into revealing sensitive information.
• Ransomware: Malicious software that locks users out of their data, demanding a ransom for access.
• Identity Theft: The unauthorised use of personal information for fraudulent purposes.

With cybercriminals becoming more sophisticated, staying informed and vigilant is critical.

Protective Measures You Can Take

As Cybersecurity Awareness Month emphasises the importance of prevention, here are practical steps South Africans can implement to enhance their online security:

• Educate Yourself and Others: Understanding the landscape of cyber threats is the first step in prevention. Numerous online resources, including workshops and webinars, are available to help individuals and businesses grasp the basics of cybersecurity.
• Use Strong Passwords: Implement strong, unique passwords for all your accounts, and consider using a password manager to help manage them. Avoid using easily guessable information, such as birthdays or common words.
• Enable Two-Factor Authentication (2FA): Adding an extra layer of security to your accounts can significantly reduce the risk of unauthorised access.
• Be Cautious of Public Wi-Fi: Avoid accessing sensitive information over public Wi-Fi networks. If necessary, use a Virtual Private Network (VPN) to encrypt your data.
• Regular Software Updates: Ensure that all your devices and applications are updated regularly to protect against known vulnerabilities.
• Backup Your Data: Regularly back up important data to a secure location to minimise the impact of potential data loss due to cyber incidents.

Get in Touch with the Sasfin Cyber Security Team

If you have specific concerns or questions about cybersecurity, the Sasfin Cyber Security Team is here to help. They provide you with information you need. You can reach out to them directly through CyberSec CyberSec@Sasfin.com and visit the Content Hub for the latest monthly cybersecurity updates.

As we observe Cybersecurity Awareness Month this October, let’s commit to taking proactive steps to protect ourselves and our communities from cyber threats. By leveraging available resources such as the Sasfin Content Hub and the expertise of the Sasfin Cyber Security Team, we can help create a safer digital environment for everyone. Awareness is the first step; let’s turn that awareness into action for a more secure future.