Liquid Cyber Security, a company under Cassava Technologies and ITC Secure (ITC) have opened a matrix of Fusion Centres in Johannesburg, South Africa, to manage cyberthreats to governments and enterprises of all sizes. This is the first of the fusion centres to be launched across 6 cities. These networks will provide threat intelligence and ensure customers have full support across cyber security, cloud and networks for end-to-end security.
Why does it matter:
In 2021, Africa lost $4 billion to cybercrimes, with over 81 million reported attacks in Kenya, South Africa and Nigeria between January and June. Quoting an Interpol report, Liquid stated that South Africa alone had 230 million threats detected in 2021. These abysmal figures reveal a weak security system in African cyberspace.
Cyberattacks are not unique to Africa:
Cybersecurity Ventures predicts that cybercrime would cost the world $10.5 Trillion annually by 2025. So far, records show the world is spiralling down this dark web. In H1, 2019, there were 3,813 breaches reported in the US, exposing over 4.1 billion records . Similarly, there were over 400,000 reports of fraud and cybercrime in the UK in 2021.
What is cybercrime?
Cybercrime refers to any illegal activity involving the use of computers and/or the internet. The forms of cybercrime, or computer crime include the theft of personal data, intellectual property and financial data; embezzlement, reputational harm; fraud; hacking of data amongst several others.
The Interpol highlighted 5 major cyberthreats plaguing Africa:
- Online scams: fake emails or text messages used to trick out personal or financial information.
- Digital extortion: coercing individuals or companies to pay for stolen information or assets.
- Business email compromise: here, an attacker impersonates a CEO or employee to get sensitive information or make financial transactions.
- Ransomware: cybercriminals block the computer systems of hospitals and public institutions, then demand money to restore functionality;
- Botnets: a network of computers used to conduct large-scale scams.
Liquid plans to make a difference:
Concerning the solutions, David Behr, CEO of Liquid Cloud and Cyber Security said, “Our pan-African Cyber Security Fusion Centres will, when fully operational, leverage our ability to track and predict threats across the continent and will be enhanced by the capability of our international partners like Microsoft, ITC Secure and Xcitium.”
This way, “South African customers have access to world-leading cyber security services, enabling them to mitigate potential threats timeously. Most importantly, customers can focus on their critical business needs while we manage their cyber security requirements 24/7/365 with the most cost-efficient and effective approach,” he explained.
Liquid’s solutions include SMEs:
The company, in a bid to include Small and Medium Businesses into its comprehensive solutions has partnered with Xcitium (previously Comodo Security Solutions) to offer solutions requiring Security Operation Centre (SOC) services without investing in highly skilled resources or Enterprise SOC services they cannot afford.
Are Liquid’s claims ambitious?
Liquid Intelligent Technologies is a digital solutions provider founded in 2005 with its first offices in South Africa, Mauritius and the UK. In 2008, Liquid ventured into Zimbabwe following its acquisition of Data Control Systems. The next decade saw Liquid drive rapidly across the continent with several acquisitions and expansions that ushered it into new markets. They include the establishment of a Satellite hub in South Africa; the deployment of cross-border fibre networks connecting South Africa and Zimbabwe, and Zambia and DRC; the launch of Zimbabwe’s first Fibre-to-the-Home service and several other tech moves. More recently is the acquisition of an Israeli-based tech company, Telrad.
The Cybersecurity unit of Liquid Intelligent Technologies was unveiled in 2020. Its end-to-end digital security services were designed to protect customers at every intersection of their digitally transformed business including network, people, and systems, revolutionising how cyber security is approached.
The ties Liquid has with Microsoft will serve as a great boost in accomplishing the goal of a safe Africa.
Jon Hamlet, Security Specialist Manager at Microsoft South Africa, said, “We work with partners, like Liquid Cyber Security and ITC Secure, to help us build a good offense and play good defence against attackers. We already analyse over eight trillion signals for potential malicious activity and, through the Cyber Security Fusion Centres, our partners will expand and strengthen this capability on the African continent.”