Page 61 - 2022 IRMSA Risk Report
P. 61

South Africa Top Risks





      FACTS AND FIGURES
      U   /…i >ÛiÀ>}i ̜Ì> VœÃÌ œv > `>Ì> LÀi>V… ˆ˜ -Ƃ ˆÃ iÃ̈“>Ìi` >Ì ,xä“ >˜` V>˜ Ì>Ži Õ« ̜ n “œ˜Ì…à ̜ ˆ`i˜ÌˆvÞ >˜` Ài“i`ˆ>Ìi°
      U   /…i >ÛiÀ>}i Ài“i`ˆ>̈œ˜ VœÃÌ œv > À>˜Ãœ“Ü>Ài >ÌÌ>VŽ ˆ˜ -Ƃ ˆÃ iÃ̈“>Ìi` >Ì ,È°{“°
      U      œL>  Ài}Տ>̜Àà  …>Ûi  ˆ“«œÃi`  w˜ià  >à  …ˆ}…  åÇ{ȓ  œ˜  i‡Vœ““iÀVi  }ˆ>˜Ìà  vœÀ  v>ˆˆ˜}  ̜  Ì>Ži  `Õi  V>Ài  ܅i˜  «ÀœViÃȘ}
          ˆ˜vœÀ“>̈œ˜°
      U      >ÌÌiÀÞ Ì…ivÌ >˜` L>Ãi ÃÌ>̈œ˜ Û>˜`>ˆÃ“ >Ài > “>œÀ Vœ˜ÌÀˆLÕ̜À ̜ “œLˆi ˆ˜ÌiÀ˜iÌ Vœ˜˜iV̈ۈÌÞ œÕÌ>}ià >˜` ÃiÀۈVi `i}À>`>̈œ˜°
          Ƃ Ș}i -iÀۈVi *ÀœÛˆ`iÀ V>˜ iÝ«iÀˆi˜Vi >à “>˜Þ >à Çää ˆ˜Vˆ`i˜Ìà «iÀ “œ˜Ì…°
      U   ÓäÓä Ã>Ü i‡Vœ““iÀVi ˆ˜ -Ƃ }ÀœÜ LÞ Èȯ Ài>V…ˆ˜} ,Îä]ÓL˜ ܈̅  "6  ‡£™ >VViiÀ>̈˜} ̅i >`œ«Ìˆœ˜ œv `ˆ}ˆÌ> ÃiÀۈVið
      U   /…i *"* Ƃ >˜` ̅i  ÞLiÀ  Àˆ“ià ƂVÌ >ÌÌÀ>VÌ «i˜>Ìˆià >à …ˆ}… >à ,£ä“ œÀ Õ« ̜ £x‡Þi>Àà ˆ“«ÀˆÃœ˜“i˜Ì°



      SOURCES
      IBM Security . (2021). Cost of a Data Breach Report 2021. IBM. https://www.ibm.com/security/data-breach
      Sophos. (2021). The State of Ransomware 2021 . Sophos. https://secure2.sophos.com/en-us/content/state-of-ransomware
      Amazon.com. (2021). Quaterly Report. United States Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/0001018
      ÇÓ{Éäää£ä£nÇÓ{Ó£ääääÓäÉ>“☇ÓäÓ£äÈÎ䰅̓ -…i>`] -° ­ÓäÓ£®° Ƃ“>✘ …ˆÌ ܈̅ fnnÇ “ˆˆœ˜ w˜i LÞ  ÕÀœ«i>˜ «ÀˆÛ>VÞ Ü>ÌV…`œ}°     ° …ÌÌ«Ã\ÉÉÜÜÜ°
      V˜LV°Vœ“ÉÓäÓ£ÉäÇÉÎäÉ>“>✘‡…ˆÌ‡ÜˆÌ…‡w˜i‡LއiՇ«ÀˆÛ>VއÜ>ÌV…`œ}‡°…Ì“
      Vodacom Group. (2021). Annual Integrated Report 2021. Vodacom Group. https://vodacom-reports.co.za/integrated-reports/ir-2021/

                                                  EXPERT OPINION
















           Craig Rosewarne         Joe Phago                     Johan Van Graan            Prince Shonhiwa
           Managing Director,      %JKGH +PHQTOCVKQP 1HƂEGT      CRO, Vodacom               Co-opted to IRMSA Risk
           Wolfpack Risk           National Treasury                                        Intelligence Committee


          >˜Þ  œÀ}>˜ˆÃ>̈œ˜Ã  >Ài  Ã̈  }À>««ˆ˜}  ܈̅  ̅i   Facebook’s global outage of 2021 dropped its stock
         initial transition to digital and have yet to fully   by almost 5% in a few hours citing market sentiment
         appreciate the accompanying risks and how large-     about the incident.
         scale interruptions to digital services may affect their   •  Failure to acquire critical services: Digital channels
         organisations. These interruptions include service      have become the primary method to acquire basic
         œÕÌ>}iÃ]  ÃiÀۈVi  `i}À>`>̈œ˜  >˜`  `>Ì>  LÀi>V…ið    ÃiÀۈVià ÃÕV… >à ˆ˜vœÀ“>̈œ˜] Vœ““Õ˜ˆV>̈œ˜Ã >˜`
         The consequences which may be catastrophic include:
                                                                 e-government services. A recent cyber-attack on
         •  Non-compliance to legislation or breach of           > -č -"  }ÀœÕ˜` ̜ > …>Ì ̅i `iˆÛiÀÞ œv ˆ“«œÀÌÃ
             Vœ˜ÌÀ>VÌÕ>  œLˆ}>̈œ˜Ã\   ˆ˜iÃ]  «i˜>ÌˆiÃ]  >˜`   >˜` iÝ«œÀÌÃ] ÀiÃՏ̈˜} > `iÛ>ÃÌ>̈˜} ivviVÌ Ìœ “>˜Þ
             prison sentences.                                   businesses and people.
         •  Financial losses:  Interruptions result in a loss of
             «Àœ`ÕV̈ۈÌÞ] œÃà œv Ã>ià ÀiÛi˜Õi] VœÃÌ œv Àiȏˆi˜Vi   The prodigious effects are driven by the interconnected
             (e.g. power generators) and the cost of recovery.
                                                              ˜>ÌÕÀi œv ̅i ˆ˜ÌiÀ˜iÌ] >˜` œÕÌ>}ià ˆ˜ ŽiÞ «>ÌvœÀ“Ã
         U   ,i«ÕÌ>̈œ˜> `>“>}i\ č …i>ÛÞ «Ài“ˆÕ“ «>ˆ` vœÀ    affect many linked systems and services – A reminder
             ÃiÀۈVi ˆ˜ÌiÀÀի̈œ˜Ã ˆÃ ̅i œÃà œv Vœ˜w`i˜Vi LÞ   that the internet is not too big to fail.
             users and investors.


                                                                  IRMSA RISK REPORT • SOUTH AFRICA RISKS • EIGHTH EDITION  59
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