This week, Lloyd’s of London published a report which showed that a global ransomware cyber-attack could cost almost $200bn in losses and affect more than 600,000 businesses within just one day.
What is telling about this report is that the predicted impact, $193 billion, hasn’t been met with more shock among those who have read and commented on it, nor has the fact that a whopping 86% of those predicted losses aren’t insured.
The level of potential losses – $89 billion in the USA with Europe second hardest hit at $76 billion followed by Asia at $19 billion – should send shockwaves through businesses and have them hastily dialling their brokers to buy cyber insurance cover, which is doubtless the point of the insurance industry issuing a report highlighting the possibility and outcome of such an attack.
Cybercrime stakes just rose – or fell, depending on how you look at it – to a new level and business leaders need to sit up and take notice if they’re not to fall victim to the new type of extortion seen in the last few days.
Even though the group’s Twitter account was suspended they’re using different, less mainstream, social media outlets to carry out their sophisticated PR campaign to raise the level of interest in the stolen data they claim to have.
With Black Friday a recent memory and Christmas just around the corner, this is no doubt a busy time of year for online shopping. Whether your employees are working from home, or sneaking in some daytime shopping in the office, they will be using the internet and accessing many online payment portals which make your business vulnerable. Christmas is a hot spot for cyber criminals so it’s important to know what to look out for and how to shop securely this festive season.
Here are a few things to look out for:
Cyber criminals are able to create spoof websites that look exactly like the retailer’s, usually with one letter different in the URL. These websites will offer fantastic deals and then deliver faulty goods, if any at all. Make sure to check the URL.
Make sure the site is secure
Look for “HTTPS”- the ‘s’ means secure, and look for a padlock on the left hand side of the browser.
Beware of Phishing emails
Similar to fake websites, phishing emails are created to look like legitimate emails from the official retailer. In this instance it is also likely that the email address will have a letter missing, or different, or might not even have anything to do with the retailer. Check the email address to make sure it’s coming from a legitimate source.
Cybersecurity awareness is the first, and most important, line of defence against cyber threats. Whilst it is important to focus on the physical aspects of cybersecurity, such as hardware and software, it is also important to engage your employees in order to create, and strengthen, your organisation’s cybersecurity culture.
EnterpriseRed have collated six steps to help start strengthening your organisation’s cybersecurity culture:
The 25th May has come and gone but the need to be compliant with GDPR, and the myths and complexity surrounding it, still remains.
EnterpriseRed, in partnership with CySure, are holding a webinar looking at GDPR and the challenges it poses to businesses. Becoming compliant need not be complicated, or expensive, and this webinar will provide insight into the myths and responsibilities of GDPR.
The webinar will be on December 11th 2018 at 4pm and will run for 45 minutes. The following areas will be covered:
Background on the number of data breaches reported to the UK’s Information Commissioner’s Office and why they happened
How to effectively utilise your employees as a first line of defence
The simple and effective measures that can be implemented to provide security continuity as staff and contractors change
How to identify a skills gap and when to hire consultants.
If you are interested in this webinar, please register here.