Cybersecurity is one of the most critical issues that any business needs to address

25/09/2020

Cybersecurity Ventures predict that cybercrime will cost the world $6 trillion annually by 2021. Global spending on cybersecurity will exceed $1 trillion cumulatively over the next five years.

Nearly half of all cyberattacks are committed against small businesses according to Cybercrime Magazine. These numbers are frightening and most definitely thought provoking!

How robust are your systems? How safe are your people, your clients and ultimately, your company? It is a sad fact that most threats that cripple a business are erroneously enabled by employees falling for phishing scams, clicking links to malicious or compromised sites or mistakenly responding to spam.

As more and more employees use their own devices, the higher the chance of exposure their companies face. This does not include risks associated with security cameras and other smart devices that organizations add to their networks to enhance physical security and increase worker productivity. All of these can serve as additional points of entry for threat actors who are always on the lookout for security gaps to exploit.

Organizations risk more than just reputational damage when their networks get breached. Apart from potential loss of customers and revenue, they also face significant penalties for failing to secure data privacy amid stricter regulation. These days, reactive protection is not enough. Companies need to stay ahead of the game when it comes to cybersecurity. This requires the right know-how and skills. Every organization needs to recognise and address their existing pain points before starting to improve their security posture. Comprehensive problem identification is required before devising or purchasing solutions.

Historically, hackers target large organizations. Statistics show smaller organizations are becoming increasingly in scope. Perhaps cybercriminals think small businesses have fewer controls in place and might be easier and quicker to infiltrate……

In addition to robust technology, employee awareness of cybersecurity is equally critical. Don’t keep them in the dark, bring them on your journey with clear and regular communication and training.

Over recent months, we have heard from many companies who have experienced a cybersecurity breach that has cost them greatly. At Virtu Consulting we can provide you with an audit of your IT systems to see how robust they are and if there are any gaps? Don’t get caught out!

To find out more about security get in touch with Virtu at info@virtuconsulting.co.uk