How well do you really understand cyber risk?
We’ve all heard the many high profile stories about well-known brands – and their customers – falling victim to cyber security breaches. It’s all too easy to tell ourselves that such threats are only the concern of large, national or multi-national firms.
In fact, research in 2016 showed that 74 per cent of small UK businesses suffered a security breach in 2015 – up 14 per cent from 2014. The average cost of the worst breach a small business will experience is £75k – £311k.
The problem with cyber risk is that, by its very nature, it is constantly evolving. The ways in which businesses manage data and utilise technology in their day-to-day operations are becoming ever more diverse and enterprising – creating new risks to manage.
Cyber criminals are clever and their strategies and their tactics constantly evolving. How do you manage risk effectively when new risks seem to present themselves so frequently that you can’t possibly recognise them all? No business will ever be 100 per cent protected from cyber threat – not even those with the most extensive and sophisticated of defence and response measures in place. An effective cyber risk strategy requires an understanding of the specific risks to which you’re exposed, and an appropriate combination of measures to manage them.
We’ve produced a new guide to managing cyber risk for small and medium sized businesses - download our new guide to cyber risk management.
Talk to us
For more information about how we can help you assess and manage the cyber risks your business is exposed to, please get in touch. Speak to your usual Lucas Fettes contact, call us on 0330 660 0401 or email us at firstname.lastname@example.org
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