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Make Cyber Security The Top Business Priority
More than four billion people across the world use internet with a penetration rate of 54.4%. In Europe the penetration rate is around 85%.
According to Statista, 82% of the population in the United Kingdom will become monthly active internet users by 2022.
Along with the phenomenal growth of the internet and the host of benefits, is the ever-looming threat of cyber-attacks. The recent Petya and WannaCry malware caused huge disruptions across the world and more than 150 countries affected by these malware suffered damages worth more than $4 billion while $100,000 was paid in ransom. Experts also warn that the actual costs may be even higher than what is seen in quantifiable figures.
Cyber security damages run into billions
According to experts close to $450 billion were lost due to cyber-attacks in 2016 across the world and this figure is likely to go up to $6 trillion by 2021.Costs related to insurance could be a hidden expense as many insurers cover only up to 3% of total losses incurred by a company. Customer relationships and trust are other damages that are not quantifiable but result in huge indirect losses to a business. Companies including Target and Home Depot lost more than $500 million due to cyber-attacks and besides and lost the trust of thousands of customers. Intellectual property is another major victim of cyber-attacks with hackers selling the IP data to others.
In the UK, 50% of businesses, particularly those that hold private data of customers, were subject to cyber-crimes in 2016.
According to the Cyber Security Breaches Survey of 2017 seven out of ten businesses experienced a cyber-attack and the losses were estimated to range between £20,000 to millions. Fraudulent emails, viruses and malware, in that order, were the most common ways to attack.
With the government as well as insurers such as Lloyd’s warning of impending losses of £92bn in face of a major attack, many businesses have sought professional IT Support London services to secure their business from attacks.
Audit cyber security levels
It is important for every small business establishment to identify the threats. Creating a checklist to audit the cyber security is a first step. The check list can have components including:
- The level of security of both external and internal systemsThe status of backups of all data The existing schedule for backup of data
- The level of protection of systems
- Security status of networks
- Password policy
- Employees awareness levels with respect to phishing attacks, password complexity, cybersecurity
- Training and implementation of security measures
Ensure your employees and management have updated knowledge of the latest threats that will help take adequate measures to prevent an attack. Consult an IT Support London services provider who can audit the security levels and identify loopholes in a professional way.
Accord top priority to cybersecurity
With losses that can reach millions not to mention the loss in terms of image and reputation, cybersecurity needs to be given top priority and be included in the company’s policy statements.
- Protect shared data against unauthorized access, deletion or modification. A professional IT Support London services provider can ensure adequate firewall and other security measures are installed.
- Ensure contractors or vendors do not pose security ris.
- Communicate to all levels of employees with respect to threats and how they can mitigate these risks.
- Ensure investment in the right technology and networks to build cyber security. A professional IT Support London services provider can help identify the technology and networks needed for optimum security.
- Conduct regular training sessions for employees on identifying threats and on best practices to prevent attacks.
Take a proactive approach to cybersecurity instead of waiting for an attack to happen. Consult a highly skilled IT Support London service provider to understand how to enhance the cyber security levels in your business.