• defining cyber risks
  • Cybercrimes Act, 2020
  • Protection of Personal Information Act, 2013
  • cyber governance


defining cyber risks

cybercrime vs cyber risks

National Cybersecurity Policy Framework for South Africa, 2012 (7 March 2012) states:

"Cybercrime" means illegal acts, the commission of which involves the use of information and communication technologies

The Cybercrimes Act, does not provide a definition for "cybercrime" but rather creates a number of offences which we can refer to collectively as "cybercrimes".

Cyber risk commonly refers to any risk of financial loss, disruption or damage to the reputation of an organisation resulting from the failure of its information technology systems.

interesting facts and stats

  • Accenture found that South Africa has the third highest number of cybercrime victims worldwide, at a cost of R2.2 billion a year (South Africa under cyber attack: Interpol reveals top threats in South Africa (businesstech.co.za ))
  • SA had a 100% increase in mobile banking application fraud.
  • We suffer 577 malware attacks every hour.
  • South Africa is one of the top 10 countries globally receiving the highest volume of cryptocurrency from illicit addresses.
  • South Africa also had the highest targeted ransomware and business email compromise attempts. (https://www.dailymaverick.co.za/article/2021-11-06-cyberattacks-south-africa-youve-been-hacked/ )

Microsoft PowerPoint - Managing Cyber Risk V2 (ensafrica.com)

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.