Kearney highlights urgent need for cybersecurity resilience in South Africa

Global management consulting firm Kearney has today released new insights into the growing cybersecurity risks facing financial services firms across South Africa and the broader African continent.

As digital transformation accelerates, so too does the complexity and frequency of cyber threats particularly those originating from within organisations.

In recognition of Cybersecurity Awareness Month, Kearney’s latest report, “Securing the Inside: Insider Threat Prevention in Financial Services”, explores the rising impact of insider threats and outlines a strategic framework for prevention and resilience.

“Cybersecurity is no longer just a back-office concern, it’s a boardroom priority,” says Jo-Ann Pohl, associated director at Kearney Johannesburg. “Insider threats are becoming more frequent, more costly and harder to detect. We must embed resilience into every layer of our systems, from leadership to frontline operations.”

Key findings:
Insider threats account for nearly one-third of cybersecurity breaches in financial services.
90% of organisations find insider attacks as difficult – or more difficult – to detect than external ones.
Legacy systems and poor access controls have contributed to a 40% surge in insider incidents.
Financial gain and espionage are the top motivations behind insider breaches.
AI and behavioural analytics are proving effective in reducing detection time and improving response.
Kearney’s research underscores that insider threats are no longer isolated incidents: they are systemic risks that demand proactive, enterprise-wide responses. Financial institutions must move beyond reactive measures and adopt a holistic approach that includes predictive analytics, zero-trust architecture, cross-functional collaboration and a culture of cybersecurity awareness.

By embedding insider threat prevention into business strategy and governance, organisations can not only protect sensitive data and maintain regulatory compliance but also build the trust necessary to thrive in an increasingly digital economy.