Cyber crime poses a significant risk to small businesses
The spread of digital information obviously offers businesses a number of opportunities to thrive.
However it also has a significant downside – the opportunity for legitimate business are matched by opportunities for criminals to commit increasingly sophisticated and highly lucrative cyber crime. Foreign Governments can also take the opportunity to steal valuable economic assets such as the intellectual property (IP) of businesses or use businesses as a route to stealing the IP of larger businesses or to gain access to Government systems.
The definition of RansomWare is a type of malicious software designed to block access to a computer system until a sum of money is paid.
Ransomware restricts access to ALL of your company data within seconds of entering your systems, therefore nobody within the business can then work properly until the ransom has been paid which on average currently is £4000.
WAVETREE PROTECT product suite enables your business to protect itself against such ransom demands and ensure your team continue working.
The costs of these downsides is increasing.
A recent survey of cyber crime against businesses found that:
• Two-thirds (66%) of business’s had been a victim of cyber crime.
• The average number of times that businesses had been a victim of cyber crime over the two years (2014 and 2015), was four.
• Businesses were the victims of around seven million cyber crimes per year (in 2014 and 2015).
• The average cost of cyber crime against businesses, over the two-year period surveyed,was a minimum of £3,000.
• The total annual cost to business was around £5.26 billion (over 2014 and 2015).
There are two main categories of reasons that Wavetree resolve are:
Organisational vulnerabilities: These are weaknesses in the procedures, processes and human behavior within a business. These have significant consequences for the security and integrity of the assets of a small business such as financial details and customer data.
Technological vulnerabilities: These are weaknesses in the technology itself, which can leave those using the technology, such as small businesses, open to attack.