In today’s computerized world, new risks emerge every hour of every day. Connecting to the Internet opens up the possibility of a hacker targeting your organization. Cybercrime is becoming big business and cyber risk a focus of organizations and governments globally. Monetary and reputational risks are high if organizations don’t have an appropriate cybersecurity plan.
A ‘Cyber Security Breaches Survey 2018’ revealed that over four in ten (43%) businesses and two in ten (19%) charities in the UK suffered a cyberattack. The survey found that 38% of small businesses had spent nothing at all to protect themselves from cybersecurity threats. A separate survey also found that a third of UK small businesses are risking their online safety by operating at or below the “security poverty line”. The most frequent types of cyber-criminal activity were sending fraudulent e-mails and impersonating organizations online. Malicious e-mails were also found to be the most common type of cyberattack in the Internet Security and Threat Report. The consequences of cyber-crime are costly as the total average cost of a data breach in 2019 is $3.92 million in research conducted by the Ponemon Institute.
What is Cybersecurity?