Cyber Risks

Cyber Risks – Understanding the Threat and What You Can Do To Protect Your Business

Your Business is at Risk?

Cyber risk is an exposure that no modern business can escape, and the financial impact of system interruption, privacy and cyber-crime events are now felt within all industries. According to the 2017 Cyber Security Breaches Survey, conducted on behalf of the UK Government, 46% of all UK businesses identified at least one cyber security breach or attack in the last 12 months and this rises to 66% & 68% for medium and large firms respectively. Common types of breach or attack include:

  • Social Engineering – some form of psychological manipulation, fooling otherwise unsuspecting users or employees into handing over confidential or sensitive data. Typically email or other communication that invokes urgency, fear or pressure in the victim leading to prompt action revealing sensitive information, clicking on a malicious link or file or making an electronic payment (typically where the criminal sends an email impersonating a senior executive in the business).

  • Ransomware – malicious software which infects equipment, allowing cybercriminals to lock down PC’S & networks from a remote location, in exchange for demanding a monetary ransom to unlock the system.

  • Distributed Denial of Service (DDOS) attacks – these prevent legitimate access to online services by swamping links with a mass of traffic the service cannot handle. These attacks are usually undertaken using botnets – a group of compromised, controlled computers which involuntarily send messages simultaneously to the computer or server.

  • Insider Threat – Staff fraud, malintent or just plain human error.

For the full information bulletin, including protection measures, please click here...