Some of the latest research released by Frost & Sullivan shows that the security assessment industry is doing pretty hot. According to a recent article on ITWeb, the global vulnerability assessment products market earned revenue of $297.5 million in 2007, and estimates this to more than triple by 2014.
Although this is good news for the security industry and just about everyone else who has private information floating around on other people’s networks, we find that South Africa is still meeting all this with a bit of resistance. Why, though?
The answer is quite a simple one – assessments are becoming a regulatory requirement from many countries’ governments. And this simply does not apply to us here in deep south of Africa…. Well, as of yet, at least.
There is a wonderful thing called the Protection of Personal Information Bill that will make a big difference in all of our privacy once it is passed as an Act. And companies are actually being advised to prepare for it properly now – because it will come into effect in the next few years.
The way it will influence the security assessment industry locally, for instance, is by forcing companies to not only ensure that all their client data is under the virtual version of Fort Knox, but that they have regular assessments done. As in, on a regular basis. Forever and ever.
However, this does not mean that companies can just relax in the mean time and wait for the Act to be born. Companies need to be proactive about this – those of you that take the initiative NOW to secure your corporate environment and to set up regular audits, will be way ahead of your competitors when the Act comes into effect. And possibly even avoid a jail sentence.
As soon as it becomes law, companies might not even be granted a grace period to ensure their security policies and procedures are in place, either. This means, they may be treading on illegal ground from day zero.
And don’t think you can easily pass under the radar – the Act will have its very own Big Brother in the form of a dedicated Commission. And although a set fine has not yet been established, you can look at about 12 months if you’re not properly prepared. And, if you hinder, obstruct or unduly influence the Commission, you can land yourself in jail for 10 years.
Have an awesome weekend – and ponder on it will ya! :-)