SMEs Still Too Complacent About Cyber Attack

From Forbes – David Prosser,  Contributor

In this article it highlights the mind set of some SME’s and mid sized organizations – that their business is not really a target for cyber criminals, which is a common misconception.  Why steal the beat up old car on the street, when parked right beside it is a beautiful new luxury car.  But which one has the alarm system?  Criminals be they cyber criminals or other will go path of least resistance, and even that old beat up car has value.  Businesses need to ensure that they protect the valuable data that resides within their networks – including customer data, credit card information, and critical business data.

Read the full article below:

Still not taking cyber security seriously? If you’re running a small and medium-sized enterprise, it might be tempting to think that attackers have bigger fish to fry – but you fall into this trap at your peril.

Research published today by the British Chambers of Commerce makes that point articulately – one in five businesses in the UK has been the victim of a cyber attack over the past 12 months. The BCC does say that large businesses are more likely to have come under attack than their smaller counterparts, but 18 per cent of companies with fewer than 100 employees say they have been targeted.

This is hardly the first warning entrepreneurs have had about cyber attack. But all the evidence suggests only small numbers are taking steps to protect themselves. Overall, just 24 per cent of businesses have sufficiently robust cyber security protections in place to qualify for some form of accreditation, the BCC says. Amongst the smallest firms, the figure falls to just 15 per cent.

Nor do businesses have contingency plans for taking action when an attack does occur. Almost two-thirds say they would look to their IT provider to resolve issues following a breach.

“Cyber attacks risk companies’ finances, confidence and reputation, with victims reporting not only monetary losses but costs from disruption to their business and productivity,” warns Adam Marshall, the director-general of the British Chambers of Commerce.

“Firms need to be proactive about protecting themselves from cyber-attacks. Accreditations can help businesses assess their own IT infrastructure, defend against cyber-security breaches and mitigate the damage caused by an attack. It can also increase confidence among the businesses and clients who they engage with online.”

The BCC also pointed to the General Data Protection Regulation, new European Union rules on data security that come into force during 2018 and will affect all organisations. The regulation, which gives watchdogs the right to fine companies up to 3 per cent of their annual turnover for a failure, offers another imperative for businesses to take action, Marshall points out. The GDPR applies to all organisations, whatever their size.