South Africa: Cyberattacks are the highest risks in 2020

Allianz Global Corporate & Speciality (AGCS) has published its Business Risk Barometer 2020. For South African companies, cyberattacks are the most feared risk in 2020. These cyberattacks, in their wider meaning, include computer network outages and data loss.

Business fear of cyber risks has risen from 35% in 2019 to 46% in 2020. These same risks are at the top of the business concerns and for the first time precede the business interruption risk ranked place according to 40% of respondents. In conclusion, South African companies face the same fears and risks as other countries around the world.

Read also | Cyber insurance market