The South African banking industry is aware that the findings of research conducted by the Cyber Intelligence Research Group and specifically the Cyber Exposure Index, which was released yesterday, may cause unnecessary fear, uncertainty and doubt. Whilst research is an important component for the development of cybersecurity products and services, an organisation’s cyber risk exposure cannot be determined purely on external factors but must also take internal factors into consideration.
The South African Cyber Exposure Index findings are based on data sourced predominantly from external sources on the dark web, deep web as well as data breaches. The banking industry takes cyber threat intelligence seriously, but cautions that this is only one component of the cyber risk management process.
“Cyber Security is a high priority for the South African banking industry and continuous investment is made in consumer education and technologies that strengthen our security posture. We are confident that these investments are yielding the expected results and, as a banking industry, will continue to build trust and confidence with our clients”, says SABRIC CEO, Kalyani Pillay.
To arrange for interviews with SABRIC CEO, Kalyani Pillay, contact:
Media and communications Manager
Tel: +27 11 847 3134
Cell: 082 070 5349
Notes to Editors:
SABRIC is a NPF company formed by South African banks to support the banking industry in the combating of crime. SABRIC’s clients are South African banks and major CIT companies. Its principle business is to detect, prevent and reduce organised crime in the banking industry through effective public private partnerships. SABRIC co-ordinates inter-bank activities aimed at addressing organised bank related financial crime, violent crime and cybercrime, and acts as a nodal point between the banking industry and others, in respect of issues relating to these crimes. The creation of public awareness of various bank related crimes and educating the public on how to protect themselves is one of SABRIC’s key focus areas. For more on SABRIC visit www.sabric.co.za