Are We Taking Business Cybersecurity Seriously Enough?

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Cybersecurity is a growing concern for business across the UK, and globally but it still doesn’t seem like businesses are taking it seriously enough. In 2019 the UK GOV Department For Digital, Culture, Media and Sport, released the results of their latest Cybersecurity Breaches Survey and the results may shock you. 

3 Key statistics from the UK GOV Cybersecurity Survey

1. 32% of businesses identified cybersecurity breaches or attacks within the last 12 months. Not content with stealing from companies, 22% of charities also experienced cyberattacks or cybersecurity breaches during the same period.

2. 48% of the businesses in the above statistic reported at least one attack a month! 

3. Only 33% of businesses have a cybersecurity plan in place.

Despite cybercrime being on the rise and 32% of businesses reporting a breach last year, only 33% of all companies have a cybersecurity plan in place to protect themselves and their customer’s data. 

The cost of cybercrime 

In 2018, cybercrime cost UK businesses £17billion. Of this £17bn, it was small businesses that took the biggest brunt, with each attack costing them an average of £65,000 in damaged assets, financial penalties and business downtime. For any business, this is a significant financial hit to take, but for small companies and startups, it can also be fatal. With more than 130,000 small UK businesses falling victim to cyberattacks in 2018, this means that they represent a massive 80% of the total financial impact of cybercrime. 

Dealing with cybercrime and preparing for attacks 

Cybercrime is on the rise, and cybercriminals are getting increasingly smart with the tactics that they now employ. Not only do businesses need to hire a reputable Security Company to deal with physical thefts and security, but they now also need to use digital specialists to secure their data and online spaces. Here are some of the things that businesses need to do to protect themselves against cyber attacks. 

• Train their staff about the dangers of cybercrime
  Outsiders commit 73% of cyber attacks. So it is vital that employees become educated about the tactics that these hackers may use so that they do not become a weak link in the security system. One of the most dangerous cyber attacks for employees is phishing scams. Often posing as an attachment in an email, phishing scams download malware onto the work PC, giving attackers a foothold.
  
  

• Keep their devices updated

Ignoring updates can leave cracks in business IT systems, and so both work and home PC’s must be kept up-to-date. Cyberhackers can use even devices such as phones and tablets, so these should be updated and installed with anti-malware software too. 

• Write a cybersecurity plan

It’s hard to fight cybercriminals if you don’t know what you are up against, and how you plan to protect it. Creating a cybersecurity plan makes it clear what measures are being taken to mitigate security risks and keeps everyone on the same page.