Credential theft surges in South Africa — NEC XON issues critical cybersecurity warning
With cybercrime now ranked as South Africa’s top business risk, NEC XON has issued a stark warning: the country is facing a dual onslaught of credential theft and AI-powered cyberattacks.
As threats escalate, NEC XON urges organisations to rethink cybersecurity—not as a compliance checkbox, but as a strategic, AI-driven business priority.
“Credentials have become the skeleton key to an organisation’s digital assets,” says Armand Kruger, Head of Cybersecurity at NEC XON.
“We’ve uncovered over 10,000 compromised South African credentials on the dark web during recent assessments. That’s not just a statistic—it’s an open invitation to attackers.”
These credentials are often harvested by malware known as credential stealers, which infect personal and corporate devices to extract saved login data.
Cybercriminals use this data to hijack online banking, gain unauthorised access to systems, and launch damaging attacks.
The #1 Attack Vector
According to the IBM 2024 Cost of a Data Breach Report, compromised credentials are now the most common entry point for breaches in South Africa, accounting for 17% of incidents and costing businesses an average of R56 million per breach.
Mimecast’s 2024 State of Email Security Report shows that human error—primarily phishing and password reuse—accounts for 40% of breaches, yet only 22% of organisations offer continuous cybersecurity training.
“We’ve traced compromised credentials directly to South African domains with no multi-factor authentication in place,” says Kruger.
“It’s like leaving the front door open and being surprised when someone walks in.”
Armand Kruger, Head of Cybersecurity at NEC XON.
AI-Powered Threats Demand AI-Powered Defenses
The game is changing. According to the World Economic Forum Artificial Intelligence and Cybersecurity Report (2025), AI is now a major enabler of cybercrime—used to automate phishing, social engineering, and adaptive malware.
“Cybercriminals are no longer working harder—they’re working smarter,” says Kruger.
“Traditional security can’t keep up. That’s why we need to fight AI with AI.”
This trend is confirmed by the Kaspersky IT Security Economics Report (2025), which shows a 26% increase in password-stealing malware across Africa, and Picus Labs’ Red Report 2025, which found a 300% surge in credential theft attempts.
Business Continuity Through Intelligent Security
Kruger stresses that cybersecurity is a business resilience asset, not a sunk cost. AI-driven solutions should include:
Real-time detection and response – Freeing up humans to focus on prevention, not recovery
Business risk quantification – Aligning security with operational priorities
Optimised spend – Delivering more protection without waste
NEC XON’s own Managed Detection & Response (MDR) team recently prevented a ransomware attack using AI that automatically quarantined malware, disabled compromised credentials, and isolated the infected endpoint—without human intervention.
“Cybercriminals don’t wait for board meetings or RFPs—they strike fast, test limits, and adapt constantly,” says Kruger.
“That’s why AI in cybersecurity is no longer optional—it’s a business imperative.”
Security Visibility Matters
NEC XON advocates for AI-powered, consumption-based security services that include live dashboards, real-time response reports, and collaboration tools to break down operational silos.
“Smart cybersecurity protects and enables the business,” says Kruger.
“You need to see the threat before it knocks. With AI-powered anticipation and actionable intelligence, you can.”
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