Over 70% of firms "woefully unprepared" in event of cyber attack: Aon official

Posted On: Feb. 20, 2015 12:00 AM CST

Kerry Curtin, principal broker at Aon Corp. unit Aon South Africa, has said that more than 70% of businesses in South Africa are "woefully unprepared" for the consequences of a major cyber hack, IT-Online reported.

"There is widespread apathy across South Africa's business sector to insure their bottom lines against serious losses and the cost of recovery due to cybercrime attacks," said Ms. Curtin. Cybercrime "costs the economy an estimated 6 billion South African rand ($517 million) a year," added Ms. Curtin.