S. Africa’s Model For Cybesecurity

Uploaded on 2017-09-18 in GOVERNMENT-National, FREE TO VIEW, BUSINESS-Services-IT & Telecoms

A vast range of topics and case studies was presented by industry leaders at the Cyber Security in Banking Conference in Cape Town, South Africa.

The event highlighted the latest trends and development in cyber security and provided a comprehensive as well as multi-faceted agenda that is relevant to all banking and financial services professionals in the industry.

The local cloud specialist, One Channel addressed delegates by highlighting the opportunities of using technology in the fight against cybercrime in the banking environment. One Channel CEO, Bernard Ford, not only presented the future model of Cybersecurity but also showed how businesses can prepare for the 4th Industrial Revolution and the implications thereof.

Ford warned that organisations can no longer afford to operate in isolation in the process era of the 4th Industrial Revolution. "We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another." He made an example of the current cyber threat landscape and showed the impact global threats had on Africa.

"WannaCry, the worst cyber-attacks in history, affected more than 230 000 computers in at least 150 countries," Ford said. He added, "It will take a concerted effort from both private and public sectors to fight cyber-crime and improve cyber security so that Africa’s cybersecurity landscape can reach optimally contend with global standards."

According to the statement, financial services institutions need to incorporate a greater agile cyber risk management approach more especially with the industry's high dependence on mobile payments, e-banking, and general cyber-operations. According to Ford, the possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited.

"And these possibilities will be multiplied by emerging technology breakthroughs in fields such as Artificial Intelligence (AI), robotics, the Internet of Things (IoT), 3-D printing, nanotechnology, autonomous vehicles and quantum computing," he said.

"Technology has made possible new products and services that increase the efficiency and pleasure of our personal lives. Ordering a cab, booking a flight, buying a product, making a payment, listening to music, watching a film, or playing a game - any of these can now be done remotely."

Technological innovation in the future will lead to a supply-side miracle. This will have long-term gains in efficiency and productivity. Communication and transportation costs will drop, global supply chains and logistics will become more effective, and trading cost will diminish, all of which will open new markets and drive the growth of the economy.

The demand side is seeing major shifts, as growing transparency, consumer engagement, and new patterns of consumer behaviour are forcing companies to adapt the way they design, deliver products and services as well as market.

He stated that, "It’s no secret that technology has been advancing at a tremendous rate. This means that it is not only more powerful, intuitive and automated, but also more accessible, with companies offering software solutions that are now affordable for small to medium sized businesses - sometimes they’re even free," 

"Acumatica is a post-modern, true-cloud business system that takes advantage of the following trending technologies: blockchain security, IoT, artificial intelligence, multi-cloud and natural language interface to ERP," Ford explained.
 
"The conference certainly equipped the financial sector with strategies and skills for successful operations in the cyber security space. We shared valuable industry insights and knowledge, addressing the latest developments in cyber security as faced by financial institutions, with particular emphasis on cyber resilience, cyber security culture, and the protection of critical financial infrastructure, as well as risk mitigation strategies," he concluded.

IOL:

You Might Also Read:

The 4th Industrial Revolution:Can Democracy Survive ?:

Industrial Robots Are A Security Weak Link:

South Africa: Serious about cyberwarfare:

« Cyberwar: A Guide
Which Countries Are Ready For Cyberwar? »

ManageEngine
CyberSecurity Jobsite
Check Point
Cyrin

Real Attacks. Real Tools. Real Scenarios.
Schedule a demo

Sign Up: Cyber Security Intelligence Newsletter

Directory of Suppliers

MIRACL

MIRACL

MIRACL provides the world’s only single step Multi-Factor Authentication (MFA) which can replace passwords on 100% of mobiles, desktops or even Smart TVs.

ManageEngine

ManageEngine

As the IT management division of Zoho Corporation, ManageEngine prioritizes flexible solutions that work for all businesses, regardless of size or budget.

XYPRO Technology

XYPRO Technology

XYPRO is the market leader in HPE Non-Stop Security, Risk Management and Compliance.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

Information Commissioner's Office (ICO) - UK

Information Commissioner's Office (ICO) - UK

The Information Commissioner's Office is an independent authority set up to uphold information rights in the public interest.

Verlingue

Verlingue

Verlingue (formerly ICB Group) is a leading corporate insurance broker providing Insurance, Risk Management and related advice to businesses and private clients.

EdgeWave

EdgeWave

EdgeWave provides simple but highly effective data security and advanced threat protection in solutions that are affordable, scalable and easy to use.

Jiran Security

Jiran Security

Jiran Security provides data and application security solution over email, mobile device and endpoints.

Center for Long-Term Cybersecurity (CLTC)

Center for Long-Term Cybersecurity (CLTC)

The Center for Long-Term Cybersecurity is developing and shaping cybersecurity research and practice based on a long-term vision of the internet and its future.

Smarttech247

Smarttech247

Smarttech247 deliver a range of cyber security solutions, including cognitive security services using IBM Watson for Cybersecurity, SIEM, Compliance & Governance, and Penetration Testing.

Randori

Randori

Randori is an attack platform that provides "red-teaming" as a service - basically, staging simulated hack attacks to test for vulnerabilities and gaps in the security response.

SaltStack

SaltStack

SaltStack develops award-winning intelligent IT automation software. We help businesses more efficiently secure and manage all aspects of their digital infrastructure.

SAP National Security Services (NS2)

SAP National Security Services (NS2)

SAP NS2 are dedicated to delivering the best of SAP innovation, from cloud to predictive analytics; machine learning to data fusion.

Path Forward IT

Path Forward IT

Path Forward IT has been troubleshooting, architecting, migrating, protecting, and securing IT environments for businesses across the USA since 2002.

Phronesis Security

Phronesis Security

Phronesis Security is committed to delivering world-class cyber security consulting with a tangible social and environmental impact.

Ermes

Ermes

Ermes – Intelligent Web Protection provides companies with a solution that effectively secures them against web threats.

Cybalt

Cybalt

Cybalt is a security services company that provides end-to-end security solutions to help clients achieve their business goals.

Blue Bastion

Blue Bastion

Don’t give cybercriminals the chance to find weaknesses in your company’s cyber security system. Defend your institution from all attacks from all directions with Blue Bastion.

Genix Cyber

Genix Cyber

Genix Cyber provides world-class cybersecurity services that protect systems, cloud applications, infrastructure, critical data, and networks from evolving cyber threats.

BlackSwan Technologies

BlackSwan Technologies

BlackSwan Technologies is reinventing enterprise software through Agile Intelligence for the Enterprise – a fusion of data, artificial intelligence, and cloud technologies.