Protecting Your Microsoft-Based Infrastructure When It Matters Most
SACYBER – Your Partner in Cybersecurity
SACYBER – Your Partner in Cybersecurity
SACyber specializes in providing comprehensive cybersecurity solutions for small and medium-sized businesses. Services include Security Maturity Assessments using CIS Controls v8, Virtual Chief Information Security Officer (v-CISO) services, Managed Detection and Response (MDR) services, Major Incident Management, and consulting on Microsoft Managed Extended Detection and Response (MXDR) suite. These offerings enhance cybersecurity posture, provide expert leadership, and protect your business from cyber threats.
Preparing for the Implementation of Joint Standard 2 of 2024
The Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) have published the Joint Standard 2 of 2024, focusing on cybersecurity and cyber resilience for financial institutions. This standard is scheduled to come into effect on June 1, 2025. This provides financial institutions, including small independent advisors, with a 12-month period to prepare for compliance.
During this preparation period, institutions are encouraged to gradually implement the required cybersecurity measures. This phased approach not only ensures compliance by the effective date but also helps distribute the associated costs over several months, reducing the financial burden. By proactively addressing these requirements, financial institutions can enhance their security posture and protect themselves against cyber threats, ensuring a smoother transition when the Joint Standard becomes mandatory.
For detailed information on the Joint Standard and its requirements, visit the FSCA's official website at https://www.fsca.co.za or the Prudential Authority section on the South African Reserve Bank's website at https://www.resbank.co.za/
The definition of a financial institution under the Joint Standard 2 of 2024 is comprehensive, covering a wide range of entities in the financial sector. Both large organizations and smaller independent financial advisors are required to comply with the new cybersecurity regulations to ensure the overall security and resilience of the financial systems.
In response to the increasing threat of cyber attacks, the Financial Sector Conduct Authority (FSCA and Prudential Authority (PA) have introduced Joint Standard 2 of 2024. This standard mandates comprehensive cybersecurity and cyber resilience measures for all financial institutions, including small independent advisors and insurance brokers.
At SACyber, we specialize in helping small businesses navigate and comply with these regulations. Our services are designed to ensure that your business meets the required cybersecurity standards efficiently and effectively.
With years of experience in the cybersecurity field, our experts and partners are well-equipped to handle the unique challenges faced by small businesses in the financial sector
Develop and maintain a cybersecurity strategy that is regularly reviewed and aligned with the overall business strategy.
Identify business processes and information assets that support business and the delivery of services, conduct risk assessments on its critical operations and information assets and maintain an inventory of all its information assets. Implement appropriate and effective cybersecurity practices to prevent the impact of potential cyber incidents.
Report material cyber incidents to the FSCA, PA, and potentially the Information Regulator if personal data is compromised.
Manage user access to your systems and applications with our identity and access management solutions. Our solutions ensure that only authorized users can access your systems and that their access is limited to what they need to do their jobs.
Ensure the protection of personal and sensitive data as required by POPIA, including notification of data subjects in the event of a breach. EDR solutions Antivirus, and remote wipe capabilities.
Assess your cybersecurity risks and develop a comprehensive risk management plan with our cybersecurity risk assessment solutions. Our team of experts will help you identify your risks and develop a plan to mitigate them.
Maintain effective cyber resilience capabilities to monitor, detect, respond and recover from cyberattacks on IT systems. Establish a data backup strategy to ensure that any sensitive information stored in the backup media is secured.
Test and apply security patches to address vulnerabilities in IT assets. Maintain written security standards for hardware and software configurations to minimise exposure to cyber threats. Implement endpoint protection to prevent malware infection..
If you need further information or would like us to get in touch, send us a message, and we will get back to you soon.
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