South African SMEs Take Approximately 9 Months On Average To Detect Security Breaches

South African SME security breach detection: Cybersecurity has become a critical concern for small and medium enterprises (SMEs) in South Africa. 

A concerning trend has emerged, with reports indicating that South African SMEs take an average of 9 months to detect security breaches.

The Sophistication of Cybercriminals

This alarming statistic highlights the growing sophistication of cybercriminals and the challenges faced by resource-constrained SMEs in safeguarding their digital assets. 

Jaco Voigt, the Managing Director of PerfectWorx Consulting, explains that the “Bad actors have become so sly that when one clicks on that dodgy link, nothing happens immediately. A false sense of security is created, particularly at under-resourced smaller firms that often cobble together defenses using consumer-grade cybersecurity solutions.”

The Slow Detection of Security Breaches

The IBM Cost of a Data Breach 2023 report corroborates these findings, revealing that it takes an average of 233 days for organizations to discover an attack if it is identified by the attacker, 203 days if identified by a benign third party, and 182 days if discovered by the organization’s internal security teams. 

The report further highlights that the time it takes to contain a breach also varies, with breaches identified by the attacker taking 87 days on average, those identified by a benign third party taking 70 days, and those picked up by an organization’s internal security teams taking 59 days.

South African SME security breach detection: The Threat of Remote and Hybrid Work

The threat landscape is particularly concerning for SMEs that have adopted remote and hybrid working models. 

According to an article by Liquid Intelligent Technologies, these SMEs have a higher risk of security breaches, with employees using unsecured Wi-Fi networks and hopping between public and private networks being a major concern. 

The article emphasizes that “the view that small businesses needn’t worry about implementing cybersecurity strategies and supporting safeguards is not only inaccurate but also dangerous to both SMEs and their partners operating in the online space.”

Common Cyber Threats Faced by South African SMEs

Phishing and ransomware attacks, along with password-based attacks, are among the most common threats faced by South African SMEs. 

Voigt notes that “stolen or compromised credentials are the most common cause of a data breach, and these types of attacks usually take the longest for local firms to identify.”

Read More: South Africa’s Corporate Registration Breached by Hackers

Addressing the Cybersecurity Challenge

To address this challenge, SMEs must prioritize cybersecurity measures and invest in robust security solutions. 

Raising awareness among employees, implementing regular training sessions, and adopting basic security measures such as antivirus software, firewalls, and regular updates are crucial steps. 

While budget constraints may be a concern, the long-term consequences of a security breach can be far more detrimental to an SME’s operations and reputation.

Conclusion

As the digital landscape continues to evolve, it is imperative that South African SMEs take proactive measures to enhance their cybersecurity posture and reduce the time it takes to detect and respond to security breaches. 

Failure to do so could have severe implications for the growth and sustainability of these vital contributors to the country’s economy.

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