The Liquid Intelligent Technologies 2021 Cyber Security report was published this week. The report’s survey is based on a sample of 141 information technology (IT) and cybersecurity decision-makers, 72 of whom are in South Africa, 41 in Kenya and 28 in Zimbabwe.
Cybercriminals and hackers have been focusing on Africa, where working at home has extended the front that companies need to defend in an environment where controls are weaker than in developed countries. More than half of countries in Africa have inadequate cybersecurity laws, while weak and outdated security systems cost the continent a $4bn per year, the report says.
“Relaxed IT security standards and new security vulnerabilities and threats during the pandemic have increased the risk of loss” across all sectors of African business, says Santho Mohapeloa, senior cyberinsurance underwriter at German insurer Allianz.
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