Cyberattack: University Averts R100 Million Loss

University of Mpumalanga
University of Mpumalanga

The University of Mpumalanga (UMP) revealed at the weekend that it had suffered a cyberattack that could have cost the institution R100 million but the threat had been resolved for much less.

The incident, which was said to be an “attempted hacking” was reported at a Council of the UMP meeting on Thursday.

The council was informed at the meeting by the university management of the attempted hacking incident that would have cost the University about R100 million.

Management said the incident was averted and “the university only lost R3 000”.

“This is as a result of robust cyber security preventative measures that the university has put in place,” explained the UMP.

Commenting on the reported cyberattack, UMP Chairperson of Council Professor David Mabunda said: “We would like to appreciate the incredible work that was done by the university management to avert what would have been an extremely unfortunate loss.

“Cyber attacks are a moving target given that as much as e-commerce has its own advantages, it also poses a risk from criminal networks who are continuously using sophisticated methods to execute their nefarious activities.

“We have a responsibility to constantly improve and review our cyber security preventative measures as part of good governance and globally competitive management practices.”

The South African Banking Risk Information Centre recently warned that cyberattacks were on the rise and were already costing the South African economy more than R2.2 billion a year.

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