J2 Software has launched a packed solution aimed at helpin SME's get a handle on cyber threats. Cyber attacks on an SME can have a far harsher long-term effect that larger businesses. A larger entity will likely have established facilities in place to recover in the event of a cyber attack. When a SME is hit; it may take days or weeks to fully recover - that is if they can recover at all.
According to the South African Banking Risk Information Centre (SABRIC), SA ranks third highest in the world for cyber attacks. Whilst there do not appear to be stats on the local SME sector, internationally a report by Deloittes reveals that in Holland, cybercrime costs the Dutch SME sector 1 billion Euro each year. At today’s exchange rate, that equates to R16704 250 000,00. The figure for the Dutch economy as a whole is put at around €10 billion, or 1,3% of that country’s GDP.
J2 Software MD, John McLoughlin, says that not only are these figures staggering but that the local SME sector is not immune to these international patterns. “In South Africa, the security industry in general has left this sector heavily under serviced and thus reduced to implementing in-house initiatives to fight this very real threat.”