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000 users. A 5% increase in infections and 88% of companies within the Middle East, Turkey and Africa regions experienced a minimum of one cyber-incident since 2022. In 2023, the global attack volumes rose by 38%, 43% of companies experience a cyber-attack every year.
Microsoft research found that ransomware attacks are becoming more and more sophisticated, and have more than doubled since 2023. The average cost of recovering from a data breach can be as high as R70-million, an expense that would cripple most SMEs.They also don’t have the budget to invest in the high-end security available to the enterprise. They can’t build an on-premises Security Operations Centre with a dedicated Chief Information Security Officer and a team of security experts on site.
In fact, according to Verizon’s 2023 Data Breach Investigations Report, around 61% of all data breaches involve small businesses.Artificial intelligence is making ransomware, malware and phishing attacks smarter and more difficult to detect. Phishing emails, for example, are well written and extremely convincing, playing on the emotions of fear and reward to persuade employees to make that fateful click.
Recently, Efficient Group, a leading financial services provider, built its security foundation on Azure to gain more control over its security capabilities. The goal was to benefit from the cloud-based security features inherent within the Azure platform while gaining more control over analytics, threat detection and overall visibility into the business.
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