08 Nov Cyber security: a high-priority for SMEs
SMEs need to induce strict cyber security in order to reduce the risk of a cyber attack. Smaller businesses are often vulnerable to cyber criminals as they lack the resources and awareness to detect any threats. Cyber criminals hack into business files and take ownership of all their data, for which they detain for a high price.
A study reveals that SMEs suffer cyber attacks due to their inexperienced staff with the know-how of cyber security. The loss of ownership of your files results in a negative impact on the business and cause severe damages to the operations. There are extreme consequences when a cyber attack strikes and SMEs are often suspects of multiple attacks.
It’s essential to be prepared for a cyber attack. You need to assign responsibility and entrust an individual or group that can prevent a cyber attack. Therefore, a cyber crisis management team should be assigned. The most cost-effective way of diminishing the risk of an attack is by putting your team through an awareness programme. Another option is for SMEs to invest in cyber insurance as this can save your business a lot of money.
Pay up or lose ownership of data
SMEs often don’t have the financial resources to pay the sum of money demanded. However, there are two options to choose from; either pay the ransom and receive the encryption code or they can erase all the data and reload the files from where they were last backed-up. Smaller businesses should perform frequent backups in order to save themselves from any attack.
Make use of a policy
All businesses should designate an employee internally or outsource the role of cyber security. The policy should obviously include your insurance cover combined with a cyber crisis team. In this way, businesses would be capable to detect and identify an issue with immediate effect.
A single click of an insecure attachment could cost the business millions and leave their IT system extremely vulnerable. SMEs can make use of many solutions to best protect themselves, without the professionalism of an IT personnel. As a result, there are a number of alternative security measures that can be utilised specifically for smaller businesses.