“There are two types of companies: ones that have been hacked, and ones that don’t know they have been hacked!”
-John Chambers, former CEO of Cisco.
Many business leaders feel guilty about not giving cyber-security enough consideration and investment. They are thus anxious about the threats and vulnerabilities that may be going undetected in their networks. And rightly so…
Attacks are growing in frequency, severity and sophistication. As our world becomes ever more connected, every business is becoming a digital business. There’s no place for complacency or ignorance anymore.
Newcastle tops the list
Alarmingly, Newcastle tops the national table for cyber security problems. Over 93% of businesses in Newcastle with over 200 employees and surrounding areas have reported losses or breaches of data. These hacks usually stem from poor or outdated network security.
It pains these organisations when they find out these attacks could have been detected and prevented.
The average cost of significant security breaches for small organisations is crushing, ranging from £75,000 - £311,000. For larger organisations it is even more so, a despairing £1.46m - £3.14m.
Such attacks are so distressing because they can prove catastrophic for not just profitability, but in some cases to long-term viability – trust from customers is hard to win, but easy to lose.
Executives need to take back control
It can be easy for business leaders to feel overwhelmed by the scale of the risks posed by rapidly evolving cyber-security threats.
However boardrooms can, and must take back control of an area traditionally seen as the remit of the IT department.
It is often difficult, but by no means impossible, for leaders to assess the extent to which their network may be vulnerable.
The problem is that organisations are unsure about what they should do to protect themselves, and more importantly, their customers.
Where to start
Start by understanding your vulnerabilities. The most common of which are outdated software or OS, long-term passwords and BYOD threats.
However, threats are constantly evolving. You can soon fall behind the curve and find your network is no longer secure.
At Forfusion, we recommend that you begin by understanding what actually needs to be protected and where your particular threats and vulnerabilities lie.
This is why we're offering a free Cyber-Security Threat Scan Report in partnership with Cisco.
Cyber-Security Event in Newcastle
To hear from some of the leading experts on how you can protect your organisation against cyber-attacks, come to our event: ‘Cyber-Attacks: Why they happen and how to stop them’ on the 6th October 2016 at The Core, Newcastle.