Did you read last month’s blog on The Importance of Cyber Security? If you did, you’ll know how vital it is to protect your business from cyber-attacks, and how to identify and prevent the different methods that hackers will use to threaten your business.
Cyber security is the ‘umbrella’ that protects your business from the storm of hackers… But do you know what the impacts of cyber security are, and what happens if you get caught without your ‘umbrella’?
What Are the Impacts of Cyber Attacks?
GDPR Non-Compliance:
System security breaches grant unauthorised people access to confidential, private and personal data. Under the 2018 GDPR regulations, failure to protect confidential data, whether accidental or deliberate, is considered a GDPR infringement and can result in a large fine of up to 4% of a business’ annual global turnover, or €20 million – whichever is greater.
For SMBs these are devastating numbers that would most likely bankrupt the business. Cyber security is a wise investment and is crucial to protect your company and ensure that all systems are safe and secure.
Loss or damage to electronic data:
A successful cyber-attack can result in the loss of critical information, including the personal details of your customers. There are a number of ways a hacker will use this against a company; blackmail, identity theft, harassment or ransom are the most common, and often result in major lawsuits and even bankruptcy.
Cyber-attackers can also erase or overwrite your database. Putting your business, finances and reputation in jeopardy. Implementing a strong cyber security strategy as a means of prevention is key to securing the future safety of your business.
System downtime:
Time is money – rectifying issues caused from cyber-attacks drains precious work hours that could be better spent elsewhere. For SMBs with fewer resources, recovery could take much longer. More often than not, by the time it’s fixed it’s too late and you will have lost your customer/audience.
Revenue loss:
Cyber-attacks cause substantial financial losses due to damages and loss of customers and opportunities. Many companies often consider themselves to be safe after installing ad-hoc security applications, however these can become paralysing if there is a system breach. An air-tight cyber security strategy is vital for the protection of your company and all of its internal data.
The NCSC have established government guidelines to help businesses navigate the issue of cyber security and cyber-attacks.
How to Protect Your Business from Cyber Attacks
There is a plethora of methods to protect your business from cyber-attacks, all of which are included within the ‘umbrella’ that cyber security provides.
We highly advise against installing an ad-hoc security system! Instead you need to implement a well revised and structured cyber security strategy that includes the correct software needed to protect your electronic data and company systems from hackers.
The best cyber security system should also include a crisis management strategy, giving you a clear method for dealing with a cyber-attack quickly and efficiently, should a cyber-criminal ever breach your systems.
What can Datek do?
Datek Solutions provides the right software and services needed to develop your business’ cyber security system.
With our help, you can be confident that your electronic data is secure, while being equipped our 24/7 IT monitoring and expert IT helpdesk. Giving you the time, and freedom you need to do what you do best – successfully run your business!
Get in touch with Datek for first-class solutions on all of your business’ IT and security requirements.
