According to the Cyber Governance Health Check, top UK boards still do not understand the impact of a cyber-attack. Here is a quick guide about why this might be and steps to improve this situation.
As I am sure we all remember from last year’s GDPR rush, there has been significant progress in cyber security legislation from the European Union. But what has happened since then to protect us and our businesses?
Research has shown that the fear of fines through GDPR is making some firms more likely to pay cyber ransom than report the breach. This is a very scary thought and extremely counterproductive. Why is this happening and what could be done to prevent this?
Entrepreneurs trying to grow their businesses are juggling so many demands on their time that they may find themselves unwittingly leaving the back door open to cybercriminals.
The Utilities Sector, made up of electric, gas and water firms, and the energy sector alone accounts for approximately 5% of GDP. The organisations surveyed in the UK Cloud Snapshot Survey were predominantly energy companies. The survey aimed to determine what the current use of the cloud is within this industry and what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
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In the past, cyber attackers have often been unaware of how much stolen data is worth to organisations. However, the implementation of GDPR means that organisations can be fined up to 4% of their global annual turnover or €20m, whichever is greater, if found to have a data breach. These fines effectively provide cyber criminals with a price point for criminals to understand how much the data is worth to organisations.
Cyber attacks are becoming more frequent in the business world today. In light of this, cyber security has become one of the leading concerns for UK businesses. Research conducted by Serviceteam IT in August 2017, revealed over a third of respondents had experienced an increase in cyber security incidents in the past 12 months.
Bitcoin, has risen to fame in recent years and become especially prevalent due to the recent media coverage linked to cyber-fraud, particularly the WannaCry ransomware attack. They’re anonymous and not in the control of banks and governments. Despite its affiliations with the illegal economy, and the association with cyber-fraud, major banks and companies across the world are in talks to adopt digital currencies such as Bitcoins.
Office 365 anti-spoof email protection: Insider spoofing or faking the email address of the CEO or the Managing Director to trick the CFO or the Finance Director into transferring tens of thousands of Pounds to criminal bank accounts is really big business. Microsoft, with Office 365 anti-spoof email protection, is quashing the threat.
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