Small Businesses: Why Would Cyber-Criminals Want to Attack YOU?

Small Businesses: Why Would Cyber-Criminals Want to Attack YOU?

Recent industry research has found that there were as many cyber-claims in 2018 as there were in the past four years combined! While this figure is shocking, you might find it surprising that 42% of those attacked were against small business, not just large companies.

The reason for this is that cyber attacks are not just motivated by mass wealth. Cyber-Criminals might want to attack your organisation to gain control of assets such as:

  • Business plans or bids
  • Employee or customer personal data (Including bank information)
  • Contracts with customers or suppliers

Security may seem like less of a priority to a small business with a low number of trusted employees but it’s these vulnerabilities that hackers use to attack.

One way you can immediately upgrade your cyber security is by tightening up your Cloud security. In 2017, Microsoft identified that the number of customers cloud-based accounts had quadrupled. The reason for this was largely down to poor password management.

The Information Commissioner’s Office (ICO) has released their Top Tips for an effective password system:

  • The system needs a proper hashing algorithm. Never store passwords in plaintext!
  • All login pages require HTTPS protection. Limit available login attempts.
  • Users must create a password with 10 or more characters.
  • Multifactor identification should be available when needed to access sensitive information.

Preventing Cyberattacks should be high on your priority list when running a business. In fact, 66% of organisations ranked cyber-security as their main priority for 2019. However, we cannot prepare for every eventuality. Cyberguru can cover your company for:

  • Hacker damage and virus cover for practice websites, systems and email platforms
  • Online or physical Data breach costs and liabilities
  • Post-breach notification, forensic investigation and legal support
  • Hacker ransom and cyber extortion cover
  • Regulatory investigations and penalty costs
  • Payment card industry (PCI) fines and penalties
  • PR and crisis containment management and expenses post data breach
  • Business Interruption for loss of income and reputational damage
  • Free Legal and Regulatory advice from cyber and data breach experts

Contact our team today on 0330 1240730 or get your online quote now and see how much you could save in fines and lost income.

 

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© Insync Insurance Solutions Ltd 2016 All rights reserved. Cyberguru is a trading style of Insync Insurance Solutions Ltd which is authorised & regulated by the Financial Conduct Authority where our reference number is 766691. Our registered office is Midland House, 2 Poole Road, Bournemouth, Dorset BH2 5QY and we are registered in England under company number 08810662. Should you have cause to complain, and you are not satisfied with our response to your complaint, you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows: The Financial Ombudsman Service Exchange Tower, London, E14 9SR | Tel: 0800 023 4567 or 0300 123 9 123 | www.financial-ombudsman.org.uk | Terms of Business