Data breaches costing SA companies more money
Data breaches are costing South African organisations more and more money.
That's according to PricewaterhouseCoopers' digital trust survey into the year ahead.
The findings assess the cyber security landscape across the globe.
PwC's report reviewed over four thousand companies worldwide between May and July this year.
The study included 94 South African firms.
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Its research revealed that cyber attacks in our country had cost businesses between R18 million and R362 million over the past three years.
It also found that less than half of the South African companies surveyed were concerned about cloud-related threats and their financial impact.
Only 29% of the local businesses are expected to increase their cyber security budgets next year.
In June, a cyber-attack on the National Health Laboratory Service caused major backlogs and processing delays at public health facilities.
Researchers say the study shows the growing need for robust cyber security measures.
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