The Business Exchange Bath & Somerset Issue 10: Winter 2018/19 | Page 25

TECHNOLOGY REVVED UP Advertorial STAYING SECURE IN 2019: WHAT WE CAN LEARN FROM CYBER TRENDS By Ian Sandham, branch director, Jelf in Bath Ian Sandham 01225 444553 “Small/medium businesses still have the data and assets that hackers want” Whether it’s preventing a mass data breach or finding ways to comply with the General Data Protection Regulations (GDPR), the need for cyber preparedness and resilience is vital. However, a recent survey from the Economist Intelligence Unit revealed that only 13% of organisations feel that they’ve learned from past cyber-mistakes. It’s worth reviewing some of the things that have happened during 2018 to keep your organisation safe from future attacks. Lack of IT security: small businesses may not have the capital or an IT department to keep up to date with IT security. Cost to hack: despite the rewards being less than a “big business” hack, the effort required to hack a small business is likely to be less so would be an “easy win” for a hacker. Small/medium businesses still have the data and assets that hackers want - credit card information, client details and a need to keep doing business. 42% of small or micro businesses identified at least one breach or attack between April 2017 - April 2018. Maximum fines for the most serious data breaches are €20 million, or 4 per cent of the company’s global annual turnover (whichever is greater) It is a commonly held belief that only larger companies are at risk of hacking, as they have more to steal. However, smaller organisations are as likely – and potentially a lot easier – to target. The General Data Protection Regulation (GDPR) introduced enhanced rights to individuals and their data, and places greater obligations on businesses and other entities that process personal data. If you haven’t already it’s worth visiting www.ico.org.uk for a more detailed overview of your responsibilities under the GDPR. Facebook lost $25 billion dollars from its market value after the Cambridge Analytica scandal earlier this year. Major cyber-attacks that end up in the media can result in a tarnished reputation for your organisation. • Develop a written incident response plan, which should include what the procedure is in the event of a cyber security breach. • Review your insurance policies to check whether your business is covered in the event of a cyber attack. If you could benefit from a review of your cyber insurance, get in contact Jelf via www.Jelf.com or email: [email protected] 80% of cyber breaches are preventable As with many things it is best to be prepared. • Provide regular cyber security training to your staff. • Install anti-virus, spyware and malware detection software on all devices. THE LAW FIRM ON THE SAME PAGE Forward-thinking legal expertise on your doorstep Bath | Wells | Sherborne | Frome | mogersdrewett.com | 01225 750 000 THE BUSINESS EXCHANGE 2018 25