Connect with us

Entrepreneur Today

South Africa Moves into Top-Five Geographies Globally for Malicious Emails

Symantec.cloud Intelligence Report: Daily targeted attacks increase four-fold since January.

Entrepreneur

Published

on

Symantec2

Symantec Corp. today announced the results of the November 2011 Symantec.cloud Intelligence Report which saw South Africa move into the top five geographies globally for virus rate which this month jumped to 1 in 222,5 emails blocked as malicious. The survey also saw South Africa maintain top position as the most targeted geography for phishing with 1 in 96,2 emails identified as phishing.

This month’s analysis also reveals that the global number of daily targeted attacks has increased four-fold compared to January this year. On average 94 targeted attacks were blocked each day during the month of November.

“The aim of these targeted attacks is to establish persistent access to the targeted organisation’s network, in many cases with the aim of providing remote access to confidential data. They have the potential to cause serious damage to an organisation and in the long term represent a significant threat against the economic prosperity of many countries,” said Mark Smissen, business development manager, Symantec.cloud.

“Targeted attacks are designed to gather intelligence, steal confidential information or trade secrets, and disrupt operations or even destroy critical infrastructure.”

The public sector has been identified as the most frequently targeted industry during 2011, with approximately 20,5 targeted attacks blocked each day. The chemical and pharmaceutical industry was second highest ranked, with 18,6 blocked each day. In this latter case, many of these attacks surfaced later in the year. Similarly, this is also the case for the manufacturing sector, which was placed third most-targeted with approximately 13,6 attacks blocked each day.

“It is important to remember that without strong social engineering, or ‘head-hacking,’ even the most technically sophisticated attacks are unlikely to succeed. Many attacks include elements of social engineering and are based on information we make available ourselves through social networking and social media sites. Once the attackers are able to understand our interests or hobbies, with whom we socialise and who else may be in our networks; they are often able to construct more believable and convincing attacks against us,” Smissen said.

While targeted attacks are on the increase, the global spam rate has now reached its lowest level in three years. The effect of spam volumes three years ago was very dramatic and spam accounted for 68,0% of global emails. Recently the decline has been much slower, but spammers have also adapted to using more targeted approaches and exploiting social media as alternatives to email. Pharmaceutical spam is now at the lowest it has been since we started tracking it, accounting for 32,5 % of spam, compared with 64,2% at the end of 2010.

November 2011 highlights:

Spam: The global ratio of spam in email traffic fell by 3,7 percentage points since October to 70,5 percent (1 in 1,42 emails).

70,1 percent of email traffic in South Africa was spam.

Phishing: The global phishing rate increased by 0,04 percentage points, taking the average to one in 302,0 emails (0,33 percent) that comprised some form of phishing attack.

Globally, South Africa stays in the top position with one in 96,2 emails identified as phishing.

Email-borne Threats: The global ratio of email-borne viruses in email traffic was one in 255.8 emails (0,39 percent), a decrease of 0,03 percentage points since October 2011. Further analysis also shows that 40,2 percent of email-borne malware contained links to malicious Web sites, an increase of 20,1 percentage points since October 2011.

November saw South Africa jump to the top five list with one in 222,5 emails blocked as malicious.

Geographical Trends:

Spam

  • In the US, 69,9 percent of email was spam and 69,5 percent in Canada.
  • The spam level in the UK was 69,5 percent.
  • In The Netherlands, spam accounted for 70,5 percent of email traffic, 70,1 percent in Germany, 70,4 percent in Denmark.
  • In Australia 68,6 percent of email was blocked as spam, 69,2 percent in Hong Kong and 68,0 percent in Singapore, compared with 66,6 percent in Japan.
  • Spam accounted for 70,1 percent of email traffic in South Africa and 74,3 percent in Brazil.

Phishing

  • South Africa once again became the country most targeted for phishing attacks, with one in 96,2 emails identified as phishing.
  • The UK was the second most targeted country, with one in 167,0 emails identified as phishing attacks.
  • Phishing levels for the US were one in 461,8 and one in 242,4 for Canada.
  • In Germany phishing levels were one in 426,2, one in 781,5 in Denmark and one in 250,4 in The Netherlands.
  • In Australia, phishing activity accounted for one in 361,0 emails and one in 517,0 in Hong Kong; for Japan it was one in 2,058 and one in 609,7 for Singapore.
  • In Brazil one in 775,3 emails was blocked as phishing.

E-mail-borne threats

  • The UK remained at the top of the table with the highest ratio of malicious emails in November, with one in 149,4 emails identified as malicious.
  • Switzerland had the second highest rate, with one in 185,6 emails identified as malicious.
  • In South Africa returned to the top-5 list this month with one in 222,5 emails blocked as malicious.
  • Virus levels for email-borne malware in the US reached one in 360,1 and one in 219,9 in Canada. In Germany virus activity reached one in 275,0, one in 710,5 in Denmark and in The Netherlands one in 238,2.
  • In Australia, one in 326,2 emails was malicious and one in 325,8 in Hong Kong. For Japan the rate was one in 1,147, compared with one in 450,0 in Singapore.
  • In Brazil, one in 570,6 emails in contained malicious content.

The November Symantec Intelligence Report provides greater detail on all of the trends and figures noted above, as well as more detailed geographical and vertical trends.

Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Entrepreneur Today

FNB Sets Its Sights On Growing Female Entrepreneurs In South Africa

First National Bank looks to grow women entrepreneurship in South Africa.

Entrepreneur

Published

on

female-entrepreneurs-in-south-africa

FNB has set its sights on growing women owned and led businesses in South Africa, a commitment that has seen the bank enter into partnerships to facilitate mentorship for some of the most promising enterprises.

The bank has a good foundation to build on, as 38% of all new business accounts opened with FNB Business are either led or owned by women, highlighting an already established entrepreneurial momentum.

“We are cognisant of the fact that neither government nor corporate South Africa are going to be the sole sources of job creation. We therefore have an obligation to support and grow entrepreneurship. Partnerships such as the one entered into with International Finance Corporation (IFC) enables us to assist in developing women owned business,” says Michelle Geraghty, Head of Women in Business at FNB Business.

Over the last few years, FNB has, through a partnership with the Vumela Fund, assisted businesses such asSAIL, a leading skills and training institute that offers a range of qualifications to the public sector, and Toni Glass who produce a collection of world class tea, to not only scale effectively, but to bolster each of the business’s offering to market.

Related: Watch List: 50 Black African Women Entrepreneurs To Watch

“Our approach is to, much like we have done with the likes of Sail and Tony Glass, enable qualifying women owned businesses in their growth curve by offering help that includes transact, lending, investing and insuring solutions. This will include facilitating the registration of the business online via the FNB registrations system which links to CIPC, to Instant accounting and payroll solutions aimed at reducing operating costs for the business. This will also extend to support in the incubation stage of selected businesses through Vumela. We will carry this right through to private equity funding,” explains Geraghty.

Vumela was established as an innovative model that is aimed at filling the gaps in the current SME funding and support landscape. While Vumela is an SME growth fund, it also functions as the bank’s primary Enterprise Development and Supply Development vehicle, able to fulfil both SME funding and growth needs, and corporate ESD requirements, avenues that FNB will be making use of.

FNB also intends on tracking jobs created through these initiatives to ensure a trickledown effect that not only benefits the business owner but also increases the overall number of women participating in business in South Africa.

“The need to grow the number of women in business is one that if done correctly, can address many of the disparities and anguish that women continuously face. Access to fair opportunities to grow their businesses and in turn make a real impact on the South African economy,” concludes Geraghty.

Continue Reading

Entrepreneur Today

Great Bunch Of Entrepreneurs Make Top 10 In The Workspace/MiWay Competition

The top 10 in The Workspace/MiWay entrepreneur competition have been selected.

Entrepreneur

Published

on

the-workspace-and-miway-competition

After an intense four-month process, the top 10 contenders in The Workspace/MiWay Entrepreneur competition have been notified that they’re through to the next round. These entrepreneurs will pitch their businesses to the judges, who will then whittle down the number of contenders to five, from which the winner will be chosen.

“There has been great excitement over the past four months. As every single new entry came in, we would clap our hands and cheer,” said Mari Schourie, CEO of The Workspace. It was a tough job judging all the entries to reach the top 20 submissions, she said, before having to find the top 10.

“We’ve had really strong entries submitted by people with good business knowledge,” said Schourie. “You can see the willingness to work hard and the great amount of effort they have put into their initiatives.”

Schourie said judges saw “wonderful ideas and fabulous business minds and quality people with big dreams shine through the entries”.

The top 10 are:

  1. Loyal 1
  2. Dwyka Mining Services
  3. Minatlou Trading 251
  4. Sindis Best for all
  5. Convergence Three
  6. Zinde Zinde
  7. Matla Risk Management
  8. Artsort Trading
  9. Iconic Talent Agency
  10. Nthedikgwadi Transport Services

Related: How to Name (Or In Some Cases, Rename) Your Company

Schourie said she wished she could tell President Cyril Ramaphosa, who supports the growth of small business as an economic driver, “the ideas and the passion that these business owners have is inspiring and should be focused on more”.

The prize on offer – worth over R350 000 – will help set-up the winning entrepreneur for a period of 12 months, giving them a boost to help build their business.

Morné Stoltz, Head of Business Insurance at MiWay, said the theme that ran throughout the entries was that entrepreneurs wanted to make a difference and contribute to positive change in South Africa. “Many of the submissions focused on technical and developmental fields,” he said.

“Entrepreneurs recognise gaps in the market and see the potential for growth. Getting into the top 10 was not at all easy.”

Stoltz said South Africa had a “great bunch of entrepreneurs” and that standing together to give them a platform to launch was an exciting opportunity. “To grow our economy we need to help with skills development and give whatever assistance we can,” he said.

Part of the finalists’ road to the top includes a skills development programme for the top 10 entrants ahead of their important date to pitch their business plans to the judges.

As Schourie pointed out, it is vital to encourage South African citizens to act on their dreams and passions because “it can be a great success; they just need make that leap”.

Dates to watch:

  • 21 June: Top 10 skills development programme
  • 3 July: Top 10 pitches
  • 6 July: Top 5 announcement
  • 20 July: Final five workshops
  • 10 August: Final five pitches
  • 13 September: Winner announced

Continue Reading

Entrepreneur Today

Top 22 Start-ups Chosen For Final Selection Days – Startupbootcamp Africa

After receiving 1,004 applications from all over the world, the SBC team in conjunction with the programme’s corporate sponsors have narrowed the applicants down to 22 top-tier tech start-ups that will be invited to the Final Selection Days on July 11th and 12th at PwC’s headquarters in Cape Town.

Entrepreneur

Published

on

top-22-african-tech-companies

SBC Africa received 1,004 total applications from 77 countries on 5 continents. The start-ups that applied were exceptionally impressive and have gained more traction in the market than the applicants for the 2017 cohort. The talent in Africa is phenomenal and the corporate sponsors and SBC team dedicated 2 weeks to narrow it down to the Top 22 to be invited to Final Selection Days.

“It’s been an intense process due to the exceptionally high calibre of start-ups applying to the programme from across the continent,” states Philip Kiracofe, co-founder and CEO of Startupbootcamp Africa. “From 1,004 applications we have managed to narrow down to 22 of the most creative teams tackling daunting African problems. One of the key differentiators for start-ups that participate in the SBC Accelerator is the opportunity to secure commercial contracts with our sponsors. In order to make it onto our Top 22, each start-up has been chosen by at least 2 sponsors for potential proof of concept projects. The 2018 cohort is already shaping up to be a milestone moment for Africa.”

Related: How to Name (Or In Some Cases, Rename) Your Company

Zachariah George, co-founder and Chief Investment Officer of Startupbootcamp Africa added, “The investment community across Africa is taking note of the significant traction and access to market that being an alumni of a global accelerator programme like ours provides. We are excited to further galvanize venture capital funding into tech startups through significant de-risking of business models and customer validation with our corporate partners globally.”

From the 22 teams that have been invited to the SBC Africa Final Selection Days, 10 will be selected to join the 2018 cohort. Over the span of the two Final Selection Days, the startups in attendance will have the opportunity to present their pitches to high-profile corporate sponsors, investors, thought leaders and industry experts and will have the chance to sit down with mentors and sponsors alike. At the end of Day Two, the Top 10 will be announced and will be welcomed to the Cape Town-based Accelerator that kicks off in August. During the 3-month period, they will have the opportunity to scale at an incredible pace and seal pilot and proof of concept deals with the corporate sponsors to the programme.

The SBC Africa Accelerator is anchored and endorsed by heavyweight corporate sponsors RCS, BNP Paribas Personal Finance, Nedbank, Old Mutual and PwC.

“We’ve seen an increase in the quality of start-ups applying to the programme. The awareness of the value of the programme has increased and the success of the first year of the bootcamp speaks for itself. More mature start-ups are also seeing the benefits of participating in Startupbootcamp Africa,” comments Stanley Gabriel, Head of Innovation at Old Mutual.

The Top 22 start-ups invited to the Final Selection Days come from 7 different countries. The numbers are as follows: 8 from Nigeria, 5 from South Africa, 3 from Uganda, 2 from the Ivory Coast, 2 from Kenya, 1 from Ghana and 1 from Ireland.

Related: Entrepreneurship Is All About Overcoming Obstacles

The names of the start-ups invited to Final Selection Days by country:

  • Nigeria: Bankly Technologies, Biyabot, CredPal, FriendsVow, Kudimoney Bank, Medikal HMS, NebulaPay, and ZEEZZ Planet Solutions.
  • South Africa: Brandbookalytics Big Data, ifileme, LÜLA, Prospa, and Akiba Digital
  • Uganda: CoinPesa Ltd, RoundBob Uganda, and Swipe 2 Pay
  • Ivory Coast: Digitech Group, and DISTRICASH
  • Kenya: Kakbima, and MPost
  • Ghana: Inclusive Financial Technologies
  • Ireland: Pago Payments

It has been an incredible 3-month scouting journey for SBC Africa and now that the Top 22 have been announced, the Final Selection Days is the only hurdle left before the Accelerator officially kicks off on 13 August 2018.

There are high expectations for the Top 10 of 2018 and if the quality of the start-ups at this stage is any indication, 2018 is set to be a great success for the African tech and innovation ecosystem.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending