For the most part, businesses become quickly aware when a crime is committed against them. In the case of criminal damage and robbery there is tangible evidence, a clear record of loss and often CCTV footage to supplement the case. Even in the event of internal fraud, the evidence is there; although it may be buried deep beneath piles of paperwork or layers of internet security. Unfortunately, in the event of cybercrime, it isn\u2019t always immediately obvious once you\u2019ve become a victim.
\nOften, businesses can go for months with malware in their systems, tracking employees\u2019 moves and infiltrating deeper into systems as the days go by. Some larger companies aren\u2019t even aware their data has been compromised until the information has gone public. The statistics reveal that 68% of all business affected don\u2019t realise until months later.
\nCybercrime is often an invisible risk until it\u2019s too late. Perhaps until your entire computer network has been shut down in a ransomware attack, or customer details have been released into the public domain. The effects of such an event can be devastating to a business.<\/p>\n
No business is safe from cybercrime. Many still consider that cybercriminals would not target their small business, however, this simply isn\u2019t the case. Small-to-medium businesses are actually the prime targets for cybercriminals, making up 58% of all cybercrime victims in 2018. This is typically due to their defences being generally lower than bigger corporations, making them \u2018soft targets\u2019. The industries particularly affected were the public sector, healthcare, retail, food and property management.<\/p>\n
Phishing emails are amongst the most common attacks affecting small-to-medium business. This is when you are sent an apparently \u2018legitimate\u2019 email which sends you to a decoy website such as Amazon or PayPal and asks you to update your account details. The cybercriminal will then use these details to commit identity theft. Another form of phishing is \u2018Spear Phishing\u2019 which mimics an email from a colleague by imitating email headers and addresses to extort money.
\nOther common attacks are malware \u2013 malicious software designed to infiltrate your computer and steal sensitive information, extort money, or send unwanted advertising \u2013 and ransomware \u2013 software which encrypts business data and blocks access to your systems until a ransom is paid.<\/p>\n
There\u2019s no way to completely protect your business against cyber-attacks. Hackers are constantly inventing new methods to infiltrate our computers, compromise our system data and gain access to personal information. However, there are things you can do to improve your defences:
\n\u2022 Train your staff to practice vigilance at all times
\n\u2022 Keep your cybersecurity software up to date
\n\u2022 Use strong passwords and don\u2019t reuse them across systems
\n\u2022 Keep up-to-date with the latest breach techniques
\n\u2022 Ensure your Wi-Fi is well encrypted and use a VPN in public
\n\u2022 Invest in Cyber Insurance for your business<\/p>\n
Cyber Insurance is designed to act as a safety net for your business following a cyberattack. It covers you against serious damage, loss of data, and the costs associated with a cyber-attack whilst helping you to get back up and running. Standard Business Insurance is unlikely to cover you against the repercussions of such an attack, so this cover exists to properly protect your business against cybercrime.<\/p>\n
As well as covering for the immediate implications of the breach, such as business interruption and system damage, your policy will also account for consequential damage such as liability claims and reputational damage \u2013 including PR costs.<\/p>\n
With the right policy in place, should your business become the next target of a cybercriminal, you will be financially prepared to deal with the aftermath. As well as this, when you take out Cyber Insurance through Edwards Insurance Brokers, you will also benefit from dedicated guidance, claims and expert backing from Chartered brokers.<\/p>\n
Cyber Insurance can protect you against:<\/strong> <\/span> To find out more about arranging Cyber Insurance for your business, you can call us on 01564 730 900<\/em><\/span><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" For the most part, businesses become quickly aware when a crime is committed against them. In the case of criminal damage and robbery there is tangible evidence, a clear record of loss and often CCTV footage to supplement the case. Even in the event of internal fraud, the evidence is there; although it may be […]<\/p>\n","protected":false},"author":15,"featured_media":5417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[189,477],"tags":[110,277,111,574,266,267,191,224],"acf":{"related_articles":null},"_links":{"self":[{"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/posts\/5388"}],"collection":[{"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/comments?post=5388"}],"version-history":[{"count":1,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/posts\/5388\/revisions"}],"predecessor-version":[{"id":5446,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/posts\/5388\/revisions\/5446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/media\/5417"}],"wp:attachment":[{"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/media?parent=5388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/categories?post=5388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.networkportfolio.co.uk\/edwardsinsurance.co.uk\/wp-json\/wp\/v2\/tags?post=5388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u2022 Malware
\n\u2022 Ransomware
\n\u2022 Extortion
\n\u2022 Data Breaches
\n\u2022 Reputational Damage
\n\u2022 Liability Claims
\n\u2022 Legal fees
\n\u2022 Investigation and Defence Costs
\n\u2022 Business Interruption
\n\u2022 System Repairs<\/p>\n