Lot of risky employ- ee behaviors such as accessing social media platforms while using company network computers or unnecessary issuing of sensitive personal or company data tend to lead to most of these vulnerabil- ities which hackers exploit.

Coronavirus pan- demic has created un- precedented uncertain- ty around human health, the

THE

availability Coronavirus of resources, panthe ongoing demic demand has created for prod- un

precedented uncertainucts and services and the li- ty around human health, the quidity of businesses. availability of resources, the ongoing But what demand effect for has products this had and on the services broader and the risk liquidity profile, of the businesses. financial tolerance But what to effect risk has and this the likelihood had on the or broader impact risk of key profile, risks the materializing. financial tolerance This article to risk examines and the one likelikey hood risk which or impact has unquestion- of key risks materializing. ably accelerated This as a result article of examines Covid-19: Cyber one key Risk risk – remote which has working, unquestionably spike in cyber accelerat- ated tacks as and a result the greater of Covid-19: depen- Cyber dency Risk on technology – remote working, have all spike changed in cyber the cyber attacks risk and profile the greater for most dependency businesses on in Zam- technology bia and have world all over. changed the cyber Covid-19 risk profile has created for most new

businesses in Zambia and

and complex commercial lo-

world over.

gistical challenges of manag-

Covid-19 has created new and ing cyber complexity risk for businessese. commercial Many logistical businesses challenges have failed of managing to accelerate cyber the risk pace for of busidig- nessese. ital transformation Many businesses across have their value failed chains to accelerate and supply the pace management of digital systems transformation and to across coordinate their in value a dispersed chains and supply digital workforce management to the systems scale and to capacity coordinate that meet in a disthe persed need of and greater digital digital workforce distri- to bution the scale in ecommerce. and capacity that meet To the understand need of greater the pace digital and distribution change in scale in ecommerce. of this acceleration the Institute of Risk Management Zambia (IRM- ZA) has been monitoring several metrics that include companies To understand shifting the pace approxi- and change mately 40-60 in scale percent of this of acceltheir eration the Institute of Risk workforce to remote and vir- Management Zambia (IRMtual workplace. While some ZA) has been monitoring several especially metrics in that the include financial companies services shifting industry approximately operating 40-60 at high percent levels of of 60-80 their percent workforce virtual to workforce. remote and virtual workplace. According While to some sources espeat cially in the financial services industry operating at high levels of 60-80 percent virtual workforce.

According to sources at ZICTA, internet utilization is up to around 50-60 percent while mobile phone usage is up by 30-40 percent including greater usage of video calls. And on a global scale, virtual collaboration and remote access tool usage has also seen an increase with over 6 billion meeting minutes on WebEx hosting in excess of 4 million meeting a day globally while record numbers of downloads have also been noted for ZICTA, Enterprise internet mobile utilization apps is such up to as around Zoom Cloud 50-60 Meeting percent and while Google mobile Hangouts phone usage which is are up by up 30-40 90 percent from including pre- Covid-19 greater usage levels of according video calls. to GSMA And on statistics. a global scale, virtual collaboration All these increases and remote in velocac- ity cess have tool led usage to major has also increas seen

Aan increase with over 6 billion meeting minutes on WebEx hosting in excess of 4 million meeting a day globally while es record in Cyber numbers security of risks down- as hackers loads have or criminals also been have noted intensified their level of thrash for Enterprise mobile apps as they try to exploit and such as Zoom Cloud Meeting take advantage of the current Covid-19 and Google situation. Hangouts With which most organizations are up 90 percent displacing from their pre- workforce Covid-19 levels from according offices, this to has GSMA led statistics. to an abundance of more All these avenues increases and opportuniin veloc- ties ity have for hackers led to major and attackers increas- to es exploit in Cyber and security gain access risks to as networks hackers or and criminals sensitive have inforin- mation. tensified Hackers their level have of become thrash incredibly as they try opportunistic to exploit and unfortunately, take advantage of they the current have seized Covid-19 on situation. the coronavirus With most outbreak organizations to fundamentally displacing their exploit workforce the weakest from link offices, in cyber this security has led - to Human an abundance element. of more When avenues the pandemic and opportu- broke, many businesses especially nities for hackers and attack- those that had dragged their ers exploit and gain access feet to digitalize found themselves to networks scrambling and to strengthsensitive en information. their online Hackers presence. have Unfortunately, become incredibly the only opportu- thing their nistic IT and departments unfortunately, needed they at have the seized time to on enable the coronavi- remote access, rus outbreak was to infrastructure. fundamen- However, tally exploit this the in weakest most cases link has in cyber not been security comprehensive - Human enough element. to accommodate the level When of access the pandemic now needed broke, to what many has businesses effectively become especially a remote those that workforce. had dragged And while their in feet the to rush, digitalize many found overlooked them