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Containing cyber security risks

The cost of cybercrime for the global economy has been estimated at $445 billion (about R4 992 billion) annually. In a recent article, McAfee’s Trevor Coetzee says cyber espionage and stealing individuals’ personal information is believed to have affected more than 800 million people during 2013 and financial losses from cyber theft could cause as many as 150 000 Europeans to lose their jobs, according to McAfee’s report.

Another report published by the Centre for Strategic and International Studies (June 2014) says: “The most important cost of cybercrime, however, comes from its damage to company performance and to national economies. Cybercrime damages trade, competitiveness, innovation, and global economic growth.”

So what are we doing to eradicate or, at the least, reduce this scourge? Sadly, in an article in bdlive.co.za, Basie von Solms, director of the University of Johannesburg’s Centre for Cyber Security, says that South Africa ranks low on a number of cyber security assessments due to a shortage of skills, combined with a lack of urgency in implementing measures to tackle cyber crime.

Securex 2016, Africa’s leading security and fire exhibition, covers a wide spectrum of security issues, including the scourge of cyber crime. The exhibition, which is being held between 24 and 26 May 2016, is the largest and most comprehensive forum for visitors from South Africa and Africa, to interact with leading local and international manufacturers and suppliers of the best brands in security and fire technology and services.

Andy Robb, chief technology officer at Duxbury Networking (a Securex 2016 exhibitor), says that there is a plethora of available products, each with its own area of focus, making it difficult – without the help of a seasoned consultant – to get the best fit for the requirements of individual networks.

Unfortunately, because of poor purchasing decisions, many organisations make use of only a fraction of the potential capabilities of their security investments. The result is a waste of resources and money that, with a more refined focus, could have been better spent elsewhere.

Before setting out to install a security system, it’s best to take time to understand the nature of what is being protected and its value to the company. Then produce a multi-faceted plan and an individualised budget for the protection of each highlighted asset.

Modern security solutions, such as intrusion detection systems (IDS) and integrated phase classification (IPC) methods, network access control (NAC), security information, event management (SIEM), unified threat management (UTM) and disaster recover (DR) systems – can all be purpose-built and tailored to suit specific applications.

Training is also an important criterion. Many organisations buy top-rate products but derive little benefit from them due to the neglect of on-going staff training and the regular up-skilling of those tasked with managing the ever-evolving installations.

Duxbury Networking is the local distributor for Cyberoam Technologies, the global network security appliances provider. It offers organisations future-ready security solutions for physical and virtual networks. Its products include next-generation firewalls and unified threat management (UTM) appliances that protect both the physical and virtual aspects of the network through user-identity-based policy controls which promote proactive security.

“We feel there is an urgent need to share critical information on cyber security with the African market. We align ourselves with exhibitors who have an increased focus on countering the effects of cybercrime, threats and policy, and the methods to effectively attack and mitigate it,” says Joshua Low, Securex Event Director at Specialised Exhibitions.

The ever-popular educational sessions in the free-to-attend Securex Seminar Theatre cover industry trends and legislation including talks on Cyber TSCM, and information and cyber security. Other visitor attractions include a New Products Display and the Business Matchmaking Service sponsored by Ideco, which allows visitors to be pre-matched with relevant exhibitors. This initiative allows meetings to be arranged in advance of the exhibition, thereby maximising the visitor’s time at Securex 2016.

Visitors can pre-register online at www.securex.co.za to avoid the queues at the exhibition.

To book a stand or discuss a sponsorship package, prospective exhibitors are encouraged to contact Sven Riddle or Zelda Jordaan on: [email protected] or [email protected] or visit www.securex.co.za.

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