It should come as no surprise to anyone that Cyberattacks are on the rise, and it doesn’t look like this trend will be slowing down anytime soon.
The latest Hiscox Cyber Readiness Report (available here) highlighted several observations which has really put things into perspective.
The key takeaway is that cybercriminals are not longer targeting large businesses alone, but tht small to medium sized businesses are now just as, if not more, attractive to threat actors. This can be for a multitude of reasons including (but not limited to), using the smaller business a foothold into a larger business (supplier compromise), gaining information about other possible targets, or that they have found that smaller businesses are more likely to pay ransom requests.
Hiscox goes on to say that “Companies with revenues of $100,000 to $500,000 can now expect as many cyber attacks as those earning $1m to $9m annually” and that ” 48% of companies reported a cyber attack in the past 12 months, up from 43% last year.”
So how does the report findings affect you, and what can be done about it?
The good news is that our cybersecurity consultants are available to help! We can cut through the technical jargon and provide tailored advice based upon your environment in order to identify your top priorities, and advise on the appropriate remediation steps required to reduce the impact of any cyber attack. All this, whilst placing a strong focus on your company’s return on investment.