6 Things You Should Know About Cybercrime

Cyber crime is not something that is new, however, the risk to our personal and business data has increased significantly, particularly as we are more on-line, purchasing, surfing and performing our work duties.

So, with cyber-attacks on the increase, what should you be aware of in your business?

5.4 million small businesses are attacked each year collectively 7 million times a year?

£5.26bn is the cost to the UK economy which is staggering. This figure comes from the Federation of Small businesses and yet whilst 93% of small businesses have some kind of cyber security in place, nearly 66% have been a victim of cybercrime. Those that have been attacked have been so 4 times on average.

“Whaling! The biggest threat and the prize for the hacker.

“Whaling” is where a CEO or FD is targeted hence the term “Whaling” (targeting a big fish), by tricking them to rush into a large transaction. Now this may seem that this could never happen, but these hackers use persuasion and identify companies you may use and use that to rush you into making large monetary payments.

Using personal devices is a big threat

Personal laptops, tablets and smartphones are not protected by the companies cyber security, this offers hackers the opportunity for them to directly access your data through these devices. After Christmas is the perfect time for this activity as new devices are used.

Many business leaders do not know where their business data is stored

IN 2016, the IoD conducted a Policy Voice survey which particularly focused on Cyber security. Shockingly, many respondents to that survey had no idea where their business data was stored. This means that key business leaders have no control of their businesses data, and this is your biggest asset. This has to be protected!

Bogus invoices

Simple, but effective, bogus invoices are a real danger, therefore businesses musty have policies in place that ensure that human interaction with technology remains, proper business processes and sign off to ensure this mistake does not become a costly one for your business.

120 days is the length it can take a business to realise it’s been hacked

That truly is a long time! A report published in 2016 by the UK Government determined that 25 of the large firms that detected a cyber security breach throughout that year had experienced a breach at least once per month.

Cyber Crime is often obvious and simple and often occurs through human error or lack of procedures in place. Consider our 6 points and review what your business can do to protect your precious data. Contact Mode today to find out more.

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This post was written by Innermedia Ltd

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