Cyber crime is on the rise worldwide and costing companies billions of rands every year. The graph below shows the staggering average annual costs that cyber crime has caused globally in recent years:
In South Africa, in particular, a 2016 economic crime survey conducted by PricewaterhouseCoopers revealed that almost a third of organisations have experienced cyber crime, and the numbers are rapidly growing. Shockingly, the tech research company Gartner reports that the average time delay from infection to when a breach is detected is 205 days.
Ukuvuma Security's Managing Director, Andrew Chester, says: "In the light of these frightening statistics, it's surprising to see how many businesses are using outdated or insufficient solutions."
Ukuvuma was therefore founded to help companies sort out and de-clutter their security systems, and get their line of defence up to date with the latest, most sophisticated threats out there.
The aim is not to rip out and replace the systems that companies have already invested in, but to improve their efficiency with Ukuvuma's advanced solutions.
"It's becoming increasingly more important for businesses to protect themselves with cyber security solutions that are ready for whatever hackers and scammers come up with next," cautions Chester.
Last year, the Petya malware attack affected computers globally, including thousands here in South Africa, while the WannaCry virus affected between 400 000 and 1 million devices around the world. Being prepared for what 2018 has in store should be on top of businesses' new year's to-do lists.
Fin24 predicts that the cloud, Internet of things (IOT) and mobile devices are some of the areas that are going to make businesses' networks most vulnerable in 2018. One of the reasons for this is because many businesses have simply not ensured their security systems are keeping pace with rapidly advancing technology. What's more, the fact that users are now logging onto networks remotely using multiple devices makes it harder to monitor threats.
The breadth of Ukuvuma's range of solutions means that they're able to crack down on cyber criminals at every turn. With solutions such as InsightVM, Ukuvuma is able to scan the operation's network and beyond to identify where its system is most vulnerable. To protect network users anywhere they access the Internet, Ukuvuma also offers Cisco Umbrella - the industry's first secure internet gateway in the cloud.
About 62% of companies report receiving more alerts than what they can handle. "At the end of the day, no matter how many high-tech solutions you have in place, the people who work for you are your last line of defence," says Chester. That's why Ukuvuma helps security teams to get the support they need to optimise their efficiency with solutions such as Rapid7 InsightIDR. It investigates breaches 20 times faster, sifts through mountains of data logs and instantly arms the team with the insights they need to act fast.
Not all staff members are as cyber savvy and alert as an operation's IT team, so Ukuvuma also offers additional services such as training to help staff become better at spotting a wolf in sheep's clothing and sidestepping the latest scams.
"The question every business should be asking themselves is: Where am I most vulnerable? To find the answer, you have to think like a hacker. That's why we employ red team tactics, or simulated attacks, to help you determine where your operation's weak spots lie, and formulate a robust security strategy accordingly," says Chester.
The team at Ukuvuma have many years of combined experience in cyber security. They know what's out there and make it their business to be one step ahead of potential new threats. "When it comes to technology and exploring exciting new ways of doing business, South Africa is doing a great job of keeping up with the rest of the world. Now, it's important to ensure their security systems are keeping up too," concludes Chester.
Click here to read more about Ukuvuma's comprehensive range of products and services.
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