Would you leave your house or car unlocked? Is the same true for your business data? Think back to the last time a security audit was carried out and ask yourself “Are my systems protected against a cyber-attack?”.
With cyber-attacks infecting organisations of all sizes across the globe and new data regulations coming into effect from May 2018, you would assume data protection is at the forefront of every business’ radar, right? Wrong. We conducted a survey with UK SME’s which found that 70 per cent believe there’s still room for improvement when it comes to their business data, with 40 per cent having no cyber-security strategy in place. Surprised? Wait there’s more…
This infographic highlights the findings from our unique study into cyber preparedness and gives tips on how to store data and reduce cyber-risks.
Cyber security still not taken seriously
Despite the recent malware outbreaks, 40 per cent of businesses do not have a cyber-security strategy. With 174,429,805 known leaked records in September this is worrying considering the cost of a breach, including loss of sales and customers. In fact, according to government estimates, businesses typically lose out on between £75 and £311,000.
TOP TIP: Antivirus software is essential to keeping your business safe, and top quality protection, such as Windows 10 in built Defender, can be yours completely free.
A matter of continuous improvement
70 per cent of SME believe there’s room for improvement when it comes to safety around their business data. This is due to the fact that many perceive security as a one-off solution rather than a continuous process. Technology is continually evolving, and no two cyber security threats are the same, which means you should constantly review and adjust your security strategy.
Top Tip: As, there is always the possibility of an unwanted attack getting in to your network, ensure that your backups are checked regularly to guarantee they’re working as expected. We discuss more cyber security tips here.
IT Manager to the rescue?
In light of recent cyber security attacks, businesses have been working hard to ensure there is expertise and robust infrastructure to support their operations. In fact, according to our survey, 84 per cent of UK SME’s have a dedicated employee managing IT and cyber-security. Yet too many are missing a trick by failing to engage with their colleagues when it comes to implementing the security process.
TOP TIP: Employees are your first line of defence when it comes to security. Ensure all users within the organisation are educated on cyber security and made aware of what to look out for
The forgotten security tool
According to IT Governance, data breaches cost UK organisations an average of £2.48 million, nevertheless , 11 per cent of businesses ‘can’t remember’ the last time they carried out a security audit on their systems – extremely important to uncover the deepest layers of vulnerability and implement a plan to mitigate the risks.
TOP TIP: Some breaches can happen unbeknown to the user, through missed software patches and updates. Ensure patches and updates are applied to all devices and servers on a proactive basis. Find out more about patch management in our blog here.
Cyber-attack: more than just a reputational risk
A cyber-attack can cause major damage to your bottom line, as well as your business reputation and consumer trust. According to National Cyber Security Alliance, as much as 60 per cent of hacked small and med-sized businesses go out of business after six months. With 51 per cent of UK SME’s at risk of cyber-attack, and only 67 per cent ‘somewhat prepared’ for one, this is worrying considering the consequences.
Top Tip: cloud-based spam filtering solution will reduce the amount of malicious attacks by checking incoming, outgoing and internal emails and quarantining any threats!