Cyberattacks have been on the rise for the last few years, especially as more businesses move their systems from traditional pen & paper to electronic systems. Research has shown that 55% of UK businesses had faced a cyberattack in the first months of 2019, which was a huge leap from the 40% that reported attacks last year.
A BBC article published at the end of April shows the results of research conducted by Hiscox into cyber security in businesses; nearly three quarters of companies are ranked as novices in terms of being prepared for a cyberattack. Hiscox also stated that many businesses “incorrectly felt that they weren’t at risk”.
Over 5400 companies of various sizes located across seven countries were surveyed, and more than 60% reported at least one or more attacks, an increase from the reported 45% in 2018. The average loss from data breaches caused by attacks rose dramatically by 61%, from $229,000 to $369,000.
Firms in the UK performed badly in cyber security, spending less on their budgets compared to other countries in the survey (less than $900,000 compared to $1.46 million in the rest of the group). Along with the US, UK firms were also the least likely to have a defined role for cyber security on their staff. Many businesses feel that because they are fairly small to medium sized, they won’t be a target for attacks, which has lead to less being spent on security from cyberattacks.
When you’re setting up your business to be protected against attacks, the best approach you should take is a layered approach. What this means is instead of relying on a single point to protect your network, like antivirus software, you should use multiple points of defence layered on top of each other. For example, you could place a dedicated firewall in front of your router, then load antivirus software onto all your computers, this way incoming data would be filtered by the firewall before its allowed onto the network, then once it reaches a PC it will be checked by the antivirus again.
If you are worried about your business being vulnerable to cyberattacks, you can get in contact with our IT Team via email or phone. They will be able to advise you on what the latest options for cyber security are, and suggest what would be best for you and your business.