Advertise Here
Icon

Directory

IconActuaries
IconAdministration Outsourcing
IconAsset Managers
IconAssociations & Institutes
IconAuditors
IconBanking
IconBBBEE Consulting and Verification Agencies
IconBusiness Chambers
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconCurrencies
IconDebit Order Collection Facilities
IconEducation and Training
IconFAIS
IconHuman Resources
IconInformation Technology and Software Partners
IconInvestment Consulting
IconInvestment Fund Managers
IconLegal
IconLISPs
IconListed Equities
IconOmbud
IconParticipation Bond Managers
IconPolicy Administration
IconPolicy Trading
IconProperty Unit Trusts (PUTS)
IconPublications
IconRegulatory Authorities
IconStock Exchange
IconSurveys and Research
IconTraining Courses & Workshops
IconUnit Trust Fund Managers
IconWellness Programs
Image
  Subscribe To »

Cyber risk during COVID-19 outbreak

Published

2020

Thu

19

Mar

A common response by businesses to the spread of COVID-19 has been to implement measures that require social distancing and remote working. To ensure business continuity, some of these measures rely on the availability of technology like VPN access, as well as the use of online platforms to hold team meetings, client calls, vendor engagement, and even mediation proceedings. 

 

On 15 March 2020, it was reported that the US Department of Health and Human Services suffered a hack, which was apparently aimed at slowing down HHS computer systems during its response to the spread of COVID-19. Even though HHS reported that there was no actual exfiltration of data, it was subsequently discovered that false information was being circulated about a national quarantine. The false information campaigns were apparently linked to the hack.

 

Businesses are reminded to ensure that their computer systems are resistant to cyber threats and that employees’ cyber hygiene is prioritised. This is especially a risk for those businesses that are not used to remote working and relying on such technology, and whose inexperience may lead to them easily falling victim to a phishing attack.

 

Businesses should also ensure that they have appropriate measures in place to respond to a data breach should one occur. This is especially relevant to those businesses whose employees are working remotely. It can be challenging for forensic experts to implement mitigation steps when compromised devices and work stations may be off-site. Businesses are encouraged to speak to their IT teams and forensic experts to determine their response capabilities.

 

The existence of COVID-19 and the extraordinary governmental measures do not automatically excuse parties from taking measures to protect personal and confidential information.  Even though POPIA is not yet in force (and therefore there is no need to account formally to the Information Regulator till it is), companies have common law and possibly contractual obligations to secure information and must continue to protect their reputation in these challenging times. This is especially so when access to personal health information could expose individuals to significant harm. Companies must include cyber risk as part of their COVID-19 response plan and make sure that remote-working employees know what to do in a cyber-emergency.

 

Authors: Rosalind Lake, Director and Priyanka Naidoo, Associate Designate

 

 
« Back to previous page Print this page » |
 

Breaking News »

Association for Savings and Investment South Africa (ASISA)

ASISA commits to B4SA compact for economic recovery The Association for Savings and Investment South Africa (ASISA) and its members are firmly committed to the new social and economic compact being forged between ...
Read More »

  

POPI BREACH COULD MEAN FINES OF UP TO R10 MILLION AND A 10-YEAR JAIL SENTENCE

Where to start for SA businesses?   09 July 2020: Parts of the long-awaited Protection of Personal Information Act 4 of 2013 came into force on 1 July 2020, and companies will have a period of one year ...
Read More »

  

Asia Corporate Payment Survey 2020: COVID-19 will overturn last year’s incipient recovery

After a 2019 that was dominated by trade tensions between the United States and China, Coface has observed an incipent recovery in Asia (excluding China), supported by supply chain shifts and additional liquidity ...
Read More »

  

Coface finalises the acquisition of GIEK Kredittforsikring AS

Coface announces the closing of the acquisition of GIEK Kredittforsikring AS, a company created in 2001, and owned by the Norwegian Ministry of Trade, Industry and Fisheries, that manages a short-term export credit ...
Read More »

 

More News »

Image

Healthcare »

Image

Life »

Image

Retirement »

Image

Short-term »

Advertise Here
Image
Image
Advertise Here

From The Glossary »

Icon

Age Nearest Birthday:

The age, expressed as an integral number of years, of an insured policyholder, which spreads over the period from six months prior to a birthday to six months after a birthday. For example, an individual is ‘age 35 nearest birthday’ from the time he is thirty-four and six months of age until the time he is thirty-five and six months of age.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2020. All Rights Reserved.