Data loss has a number of meanings including deletion, destruction or unauthorised copying by third parties without your knowledge. This data can be extracted by anyone who can gain access to your network or devices attached to your network.
Many businesses are unaware that the single hardest attack to defend against is from employees of the business. These employees tend to have access to devices within an organisation and have varying levels of access to systems and data. The security risks posed by employees or recently ex-employees is significant.
A recent Forrester survey of SME’s in the UK, US, France and Germany found that over 36% of all recorded information breaches were carried out by employees. 37% of those that responded said their biggest concern was from rogue employees.
The threat from external sources is increasing. It is no longer something only big business needs to address. In the UK, over 1000 cyber-attacks are carried out per hour with many SME’s being targeted.
A 2015 Government study has shown the worst breaches encountered by SME’s cost between £75,00 and £310,000 in direct losses.
But what else do you need to think about in terms of direct and indirect costs?
1. Recreating the data (if possible)
If you have had an external breach or worse a ransomware attack the cost can vary. As an example, we have recently come across a professional service firm that has paid in excess of £25,000 to recover 50% of data encrypted by a ransomware infection. This was the only method of recovery as the IT provider had no working backups setup for the business.
The cost of staff not being able to perform their job is a huge consideration. Many professional service businesses sell time and lose large amounts of chargeable time with prolonged outages.
3. Reputational damage
If you are working with people who trust you it is important to understand the impact on your reputation if you have a major data breach or data loss. Will your clients want to work with you if you have a major issue or lose their data?
How HW Technology can help
We work with many businesses in the professional service sectors to identify weaknesses in existing systems and then provide on-going support and expertise to try and keep them as safe and secure as possible. Our aim is to take the stress away from business owners and let them concentrate on what they do best. Please contact us here or call 0845 5048989.
To find out more, please call us on 0845 504 8989, or complete our contact form.