Why is Information Security Still so Fragile Within Businesses?

Security used to mean CCTV, a manned gate and employees only being able to gain access with a pass. Security of information consisted of lockable cupboards within your offices and that was enough. However, times have certainly changed in the age of dramatic transformation regarding the digital world, and how we defend the information our businesses hold has certainly had to change. Or has it? It appears with recent research, that Companies are still failing to see the importance or protecting confidential information with proper security measures, or rather they’re choosing not to engage with the growing threat of cyber attacks by ensuring they have basic IT security.

Mode investigates the threat that all businesses face.

Ransomware-an increasing threat:

Rates of attacks from ransomware has significantly increased from one every two minutes on average, to now one every 40 seconds. The greater threat appears to be SME’s where 42% fell victim to some kinds of ransomware attack. Unbelievably one in three paid the ransom however, only one in five retrieved their files even though they had paid the ransom.

67% of companies affected lost all or part of their data and one in four spent several weeks trying to retrieve access.

Financial gain is the main driver for ransomware attacks although now many of these attackers are being paid for sensitive information and those sectors more greatly targeted are those in the financial, educational and healthcare sectors.

Pretexting scams

You may not have heard of this before, but in a nutshell, this is where an individual lies to need information in order to confirm the identity of an individual, hence the name Pretexting-false motive.

This is becoming an extremely popular tactic and is rapidly on the increase and financial employees are most at risk of this as they are the ones that hold the keys to the Company’s purse strings. Email is the number one form of doing this and can occur over a period where the cyber criminals send several emails developing a relationship before asking for any financial transfer request.

Loose & easy passwords

This is such a common and easy flaw within any business’s IT Security.

The Verizon Data Breach report commented that 81% of hacking related incidents occurred because of either stolen, weak or too easy to guess passwords. Even if your businesses IT security is fundamentally flawed, a strong password is one of the most effective security measures you can have in place to protect your information. Our experts at Mode suggest a multi-factor authentication as this alone would act as excellent security for your sensitive data.

Whilst there is so much press coverage on Cyber security and the threats that we all now face, too many Companies are not bolting down the hatches and cyber criminals are still finding it too easy to gain access to too many businesses. The fact remains that the cost to your business is far greater if a hacker gains access, than the cost for secure, effective IT security.

If you’d like more information on how Mode can protect your sensitive data, then do contact us on 0345 223 2203 or email us on enquiries@modeprintsolutions.co.uk.

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This post was written by Anwen Haynes

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