Managed Cyber Security for Business

The stats certainly bear us out – According to the Cyber Security Breaches survey of 2022, 39% of all UK businesses experienced a cyber breach/attack in the last 12 months.

Cyber security threats can have a significant impact on businesses. That’s why it is critical that you take the right steps to protect your business from cyber security threats. The headline damage to your business can include:

• Financial losses: Cyber-attacks can result in financial losses due to the cost of remediation, possible ransom, lost productivity, and legal fees.
• Reputational damage: Cyber-attacks can damage a business’s reputation, making it difficult to attract customers and partners.
• Legal liability: Businesses may be held legally liable for the consequences of a cyber-attack, such as data breaches or financial losses.

Whilst its true that attacks on your business usually originate from outside the company, they can and often are performed by a ‘malicious insider’. These sorts of attacks can be the most damaging. The user usually knows a lot about your company. They also clearly understand how to maximize the negative effect on the company and its data. Motivations for a malicious insider vary, but typical ones include:

• Disgruntled employees looking for ways to make extra money.
• They want to cause issues for others before leaving the company.
• They want to harm specific individuals or the organization as a whole.

A malicious insider may even take steps to ensure long-term access by building in backdoor accounts or go straight to exfiltration or deleting sensitive data. Users with administrative rights are typically the most dangerous malicious insiders and you may want to consider our Employee Monitoring services to help mitigate this risk.

Sometimes, businesses will not even be aware of an attack and indeed, the latest UK government survey showed that 32% of businesses and 24% of charities don’t recall any breaches or attacks from the last 12 months. This is much higher for medium-sized businesses (59%), large businesses (69%) and high-income charities with £500,000 or more in annual income (56%).