The Wolf Howl November 2024 Edition

ACFE President John Gill highlights the risks of generative AI in fraud, no ng that 83% of an – fraud professionals plan to adopt Gen AI tools within two years. While fraud fighters face a tech arms race with criminals, they are bound by ethical and regulatory constraints, creating an uneven battlefield in combating fraud.

The TransUnion Q4 2024 Consumer Pulse Study highlights growing financial confidence among South Africans, with 79% expecting higher household income and 65% improving bill payments. While optimism rises, 13% reported digital fraud incidents, emphasising cybersecurity needs. Gen Z and Millennials lead this recovery, showcasing resilience amid inflation and credit challenges, signalling a positive economic outlook.

Donald Trump’s second term may drive increased U.S. defence and cybersecurity spending, fuelled by rising cyber threats and the need for modernisation. Despite $916 billion spent in 2023, defence spending as a percentage of GDP has declined. Investors can benefit from opportunities in traditional defence advancements and a growing, government supported cybersecurity industry poised for significant growth.

The rising cost of cybersecurity, driven by ransomware and extortion, highlights its critical role in business survival. In 2023, business email compromise cost $2.9 billion, while the average data breach reached $4.88 million globally, per IBM’s 2024 report. Companies must effectively communicate cybersecurity’s value to combat escalating threats and safeguard operations.

Supply chain cyberattacks are escalating, especially in medtech. Experts urge proactive collaboration with suppliers to enhance cybersecurity. Advocating for better awareness can mitigate risks. Ashley Mancuso will discuss advancing cybersecurity in supply chain operations at MEDevice Silicon Valley, highlighting the importance of protecting critical industry sectors.

Gauteng’s e-government department prioritises cybersecurity, addressing public sector challenges like limited skilled workforce and slow response mes. Recognising rising cyber threats, the department calls on private-sector collaboration to strengthen protections and enhance response capabilities.

Wolfpack Information Risk, a cybersecurity, privacy, and resilience solutions specialist, proudly announces the “Protection in the Pack Series” launch. A comprehensive guide designed to equip individuals, families, and organisations with essential digital survival skills.

The “Protection in the Pack Series” uses real-world examples and practical tools to help readers relate to the material and apply the concepts to their personal and professional lives. Visual aids are incorporated throughout the series to enhance understanding and retention of key concepts.

Due to their constant connectivity and portability, mobile devices such as smartphones and tablets are highly susceptible to cyber threats, including malware, data theft, and unauthorised access. The personal and often sensitive information stored on these devices makes them attractive targets for cybercriminals.

Attackers exploit outdated software, insecure apps, and unprotected Wi-Fi connections to gain access to mobile devices. Phishing attacks via SMS or messaging apps (smishing) are commonly used to trick users into revealing personal information or downloading malicious software.

Follow our weekly awareness posts to delve deeper into taking responsibility for your online safety.

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Spot the Red Flags This Black Friday!

As the Black Friday frenzy approaches, the hunt for deals can sometimes overshadow the need for caution. Cybercriminals are keenly aware of this and are ramping up their efforts to exploit unsuspecting shoppers. In this edition of “The Wolf Howl,” we are shining a spotlight on online shopping red flags you need to watch out for. Whether it’s fake websites, phishing emails, or too-good-to-be-true offers, knowing how to spot these threats can save you from falling victim to scams. Let’s ensure your Black Friday shopping is safe, secure, and scam-free!

Arctic Wolf’s “Human Risk Behavior Snapshot” reveals a significant gap between cybersecurity confidence and actual practices among IT leaders.

While 80% believe their organisations are resilient to phishing attacks, 64% have fallen victim themselves. Additionally, 68% admit to password reuse, and 36% have disabled security measures on their devices.

Organisations should foster a security- centric culture, encourage open communication, and implement comprehensive security awareness training programmes to address these issues.

We are thrilled to announce that Cynomi has been recognised in the 2024 Channel Insider VIP List!

This prestigious accolade highlights our commitment to empowering MSPs and MSSPs with our cutting-edge vCISO platform, enabling them to deliver enterprise-level cybersecurity with ease and efficiency.

A huge thank you to our partners for the nomination; your support is unmatched! Model Technology Solutions SecureCyber FoxPointe Solutions Quadrant Information Security General Informatics ThinkGard Ntiva, Inc.

Support AFFT’s Christmas Gift Drive for Preschoolers

This festive season, Africa Food for Thought (AFFT) is organising a Christmas gift drive to bring joy to preschool children in our community. We invite you to sponsor a child by preparing a gift package that includes:

• Toothpaste Toothbrush
• A reading or coloring book with crayons A toy suitable for a boy or girl

Your thoughtful contribution will make a significant difference in a child’s life, providing both essential items and a source of happiness during the holiday season.

Seeking a Speaker for Our Year-End Event

In addition, we are hosting a year-end party for preschool principals to celebrate their dedication and hard work. We are seeking a motivational speaker to inspire our attendees or an expert to raise awareness about cybersecurity, especially pertinent during the festive season when cyber threats often increase.

If you are interested in sponsoring a gift or know a speaker who would be willing to contribute to our event, please contact us at info@afft.org.za.

Your support is greatly appreciated and will help us make this festive season memorable for our community’s children and educators.

Thank you for your generosity and commitment to making a positive impact.