Business cybersecurity: How to keep your business safe
Think cybercrime won’t affect your business? Think again. In this episode of Everything Counts, we break down the most common scams catching businesses off guard and how to avoid becoming a cautionary tale. With insights from digital forensics expert Danny Myburgh and Investec’s Kevin Hogan, it’s time well spent.
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Everything Counts | Episode 30: Business cybersecurity: Staying ahead of cyber fraud
Cybercrime is advancing rapidly, placing businesses squarely at risk. From email hacks to fake payment instructions, today’s fraudsters are using sophisticated tools to exploit trust and steal money. But knowledge is power.
In this episode of Everything Counts, host Motheo Khoaripe sits down with digital forensics expert, Professor Danny Myburgh and Head of Fraud Risk at Investec, Kevin Hogan, to unpack the biggest cybersecurity threats facing businesses today.
They explore how scams like ransomware, business email compromise (BEC) and social engineering work. To protect yourself, you'll learn practical tips to strengthen your ‘human firewall’, secure your passwords and spot fraud before it hits your bottom line.
How secure is your business? Stay ahead of cyber fraud with expert insights
Cybercrime is no longer just an IT problem, it’s one of the biggest risks to every business today. From phishing scams to ransomware attacks, the threats are evolving fast and the consequences can be devastating. Financial loss, reputational damage and even business closure are real risks if you don’t stay ahead.
The biggest cyber threats businesses face
Business email compromise (BEC)
One of the costliest cybercrimes globally is business email compromise, where fraudsters hack or trick staff into changing payment details. Once criminals gain access to a webmail account, they monitor conversations, insert fake invoices and divert funds. Losses from BEC exceed those of ransomware or malware.
Phishing
A phishing attack is often the first step. A fake email, text or call pushes you to act quickly, click a link, enter a password or download an attachment. Once inside, cybercriminals can hijack multiple accounts, impersonate you and steal your money.
Ransomware
Ransomware attacks in South Africa are on the rise. Hackers quietly infiltrate systems, corrupt backups and lock your data with encryption. Often, they also steal sensitive information and threaten to release it publicly unless a ransom is paid. Recovery is costly and trust with clients can be lost overnight.
Fake payment instructions
Fraudsters send official-looking payment confirmations or emails with new bank details. Businesses act on them, only to discover the money never arrived. Double-checking every payment instruction is critical.
Social engineering
Most cybercrime isn’t about breaking software, it’s about manipulating people. Urgent requests, messages that appear to come from colleagues or a spoofed email address are enough to bypass processes if vigilance slips.
How to protect your business
- Strengthen email security: enable two-factor authentication (2FA), monitor for email spoofing, and update passwords regularly
- Use password managers: they make it easy to generate and store complex, unique logins
- Train your team: awareness is your first defence. Spotting the signs of phishing or social engineering reduces risk dramatically
- Check payment details: always confirm via a trusted channel before releasing funds
- Prepare for ransomware: back up data securely and test recovery systems regularly
Final word
Cybercrime is constantly evolving, but the red flags are timeless. By combining strong tools with digital mindfulness, you can dramatically reduce your risk.
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