According to the Government’s Cyber Security Breaches Survey, the number of cyber attacks on small businesses has increased in the last 12 months, with 39% of companies saying that they had been targeted.
The survey also found that the most common type of threat was phishing (83%), while 21% also reported a more sophisticated attack such as denial of service, malware, or ransomware. Yet despite its low prevalence, 56% of companies have a policy not to pay ransoms.
“The increase in cyber attacks that we saw with the pandemic is showing little sign of slowing,” says Nutbourne Technical Director Patrick Burgess. “It means that as digital acceleration increases and becomes more diverse, our approach to cyber security has to improve. Threats are evolving and becoming more sophisticated, so companies have to be prepared and be vigilant.”
The survey also found that 31% of businesses and 26% of charities estimate they were attacked at least once a week, while one in five businesses (20%) and charities (19%) say they experienced a negative outcome as a direct consequence of a cyber attack. On average small businesses lost £4,200 per attack while larger organisations lost close to £20,000 per attack.
“It’s important for businesses to be aware of new threats and to practice good cyber security hygiene,” Patrick adds. “Given the geopolitical landscape, we expect to see a rise in geopolitical hacking, data thefts, and breaches. These are costly financially and to operations, so companies of all sizes need to act.”
Patrick says that following the Government’s 10 Steps to Cybersecurity or taking its Cyber Essentials Certification are good places to start, adding that a Managed Service Provider should also be used for ongoing support and resilience.
“The NCSC (National Cyber Security Centre) offers some great resources for free and is a brilliant starting point that we recommend all our clients look into. The reality is that threats are going to increase in scope, diversity, and sophistication, so cyber security has to be on the agenda for every company.”
For advice on securing your company against cyber threats, visit Nutbourne.com, or call on +44 (0) 203 137 7273