{"id":817320,"date":"2025-03-17T14:28:12","date_gmt":"2025-03-17T12:28:12","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=817320"},"modified":"2025-03-18T10:37:35","modified_gmt":"2025-03-18T08:37:35","slug":"june-2025-joint-security-standard-deadline-is-your-business-ready-and-compliant","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/industry-news\/817320\/june-2025-joint-security-standard-deadline-is-your-business-ready-and-compliant\/","title":{"rendered":"June 2025 Joint Security Standard deadline \u2013 Is your business ready and compliant?"},"content":{"rendered":"\n<p>Cyber threats are becoming increasingly sophisticated, prompting financial regulators to bolster security measures across the financial sector.&nbsp;<\/p>\n\n\n\n<p>One significant step in this direction is the Joint Security Standard introduced by the Financial Sector Conduct Authority (FSCA) and the South African Reserve Bank (SARB).&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong><a href=\"https:\/\/sevenc.co.za\/1-june-compliance-deadline-what-financial-institutions-need-to-know-and-do-now\/?utm_source=7C+Email+signature&amp;utm_medium=email&amp;utm_id=Cybersecurity-Compliance-April-Event\" target=\"_blank\" rel=\"noreferrer noopener\">Register for SevenC\u2019s exclusive 1 April webcast about becoming compliant with the Joint Security Standard.<\/a><\/strong><\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/SevenC-In-article-image-1200x675-4.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/SevenC-In-article-image-1200x675-4-1024x576.jpg\" alt=\"\" class=\"wp-image-817426\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/SevenC-In-article-image-1200x675-4-1024x576.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/SevenC-In-article-image-1200x675-4-300x169.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/SevenC-In-article-image-1200x675-4-768x432.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/03\/SevenC-In-article-image-1200x675-4.jpg 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n\n<p>This new framework, effective from 1 June 2025, aims to safeguard financial institutions, businesses, and consumers by enforcing stricter cybersecurity protocols.<\/p>\n\n\n\n<p>\u201cEssentially, this standard requires financial institutions to enhance their cybersecurity efforts by focusing on risk management, incident response, data protection, and continuous threat monitoring,\u201d said Graeme Millar of SevenC Managed IT Services.&nbsp;<\/p>\n\n\n\n<p>\u201cIt applies to banks, insurers, stock exchanges, and other financial entities under the Joint Standard 1 of 2023: IT Governance and Risk Management for Financial Institutions.\u201d<\/p>\n\n\n\n<p>Millar explained that with the new standard, compliance will be about more than ticking a regulatory box \u2013 it will require that organisations address real risks.<\/p>\n\n\n\n<p>\u201cTo align with the new standard, businesses must assess their current cybersecurity posture, invest in advanced security measures, develop an incident response plan, increase employee training, and meet reporting and compliance requirements,\u201d Millar explained.<\/p>\n\n\n\n<p>\u201cThe complexity and cost of compliance will depend on each organisation\u2019s current state. Larger enterprises may already have some of the required measures in place, while smaller institutions could require significant upgrades.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Ramifications of non-compliance<\/strong><\/h2>\n\n\n\n<p>According to the Forensic Science Institute (FSI), establishing the current state requires an assessment to evaluate where the gaps are and provide recommendations accordingly.&nbsp;<\/p>\n\n\n\n<p>The assessment cost and timeframe vary based on the institution\u2019s size and the extent of necessary changes.<\/p>\n\n\n\n<p>But what happens if a business fails to comply? Regulatory action for non-compliance could be severe.&nbsp;<\/p>\n\n\n\n<p>Regulators hold extensive authority under financial sector laws, meaning businesses risk fines, suspension, or even losing their licenses if they fail to meet the new security standards.&nbsp;<\/p>\n\n\n\n<p>Beyond the regulatory impact, businesses that do not comply also face increased risks of data breaches, financial losses, and reputational damage.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Big win for customers and businesses<\/strong><\/h2>\n\n\n\n<p>For everyday customers, this new standard is a win.&nbsp;<\/p>\n\n\n\n<p>Financial institutions will be held to higher security standards, reducing the risks of identity theft and fraud.&nbsp;<\/p>\n\n\n\n<p>Consumers can expect stronger data protection, faster response to breaches, and greater transparency about how their data is safeguarded.<\/p>\n\n\n\n<p>While adhering to the FSCA &amp; SARB Joint Security Standard requires investment, it ultimately benefits businesses, too.&nbsp;<\/p>\n\n\n\n<p>Compliance reduces regulatory penalties, strengthens customer trust, and enhances overall cybersecurity resilience.&nbsp;<\/p>\n\n\n\n<p>More importantly, as digital threats evolve, these measures will help financial institutions and consumers navigate the financial landscape safely and confidently.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Meet the June 2025 deadline<\/strong><\/h2>\n\n\n\n<p>The question for financial institutions is no longer whether they should enhance their cybersecurity &#8211; it\u2019s how quickly they can do it before the June 2025 deadline.&nbsp;<\/p>\n\n\n\n<p>Now is the time to assess, plan, and implement the necessary measures to ensure compliance and long-term protection.<\/p>\n\n\n\n<p>Contact SevenC Managed IT Services today for expert guidance on compliance assessments, cybersecurity enhancements, and staff training.&nbsp;<\/p>\n\n\n\n<p>SevenC, together with industry leader FSI and ASG are your trusted advisors on the Joint Standard.&nbsp;<\/p>\n\n\n\n<p>Stay ahead of regulatory changes and protect your financial data &#8211; <strong><a href=\"https:\/\/sevenc.co.za\/contact-us\/https:\/\/sevenc.co.za\/contact-us\/?utm_source=BusinessTech&amp;utm_medium=Article&amp;utm_term=March+2025\" target=\"_blank\" rel=\"noreferrer noopener\">get in touch with us now<\/a><\/strong>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The question for financial institutions is no longer whether they should enhance their cybersecurity &#8211; it\u2019s how quickly they can do it before the June 2025 deadline. <\/p>\n","protected":false},"author":57,"featured_media":817323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10459],"tags":[22050,3619,21123],"class_list":["post-817320","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-news","tag-joint-security-standard","tag-sarb","tag-sevenc"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=817320"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817320\/revisions"}],"predecessor-version":[{"id":817428,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/817320\/revisions\/817428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/817323"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=817320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=817320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=817320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}