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Cyber attack is on the rise.

Posted by: Tom Morris
04/04/2016

Are private companies protecting themselves? 

Cyber attacks have become one of the major problems in today’s global information culture, putting a lot of pressure on organisations in every industry to protect both themselves and their customers. This leads to executives and IT managers to question how vulnerable their own networks might be.

A recent global survey conducted by CIO Magazine and CSO Magazine has shown that the number of attacks reported by midsize companies (those with revenues of $100 million to $1 billion) has jumped 64% within a year.

Regulated and large companies tend to be more aware of the risks of a possible cyber attack and have therefore increased their budget and personnel to constantly monitor their Business Information Security. But what about middle-sized companies?

Cyber-criminals are now more sophisticated and financially motivated than ever in the way which they attack. With their ability to be highly targeted, they are more patient. Furthermore hackers are designing highly tailored malicious software, known as malware, with specific company targets in mind, depositing the malware at the targeted company and then simply waiting until the valuable information shows up.

What’s new nowadays is that midsize businesses make ideal targets, often as a backdoor entrance to larger companies. “Imagine you’re a hacked high-tech startup in the process of being bought by a big company. The first thing you’ll do is to connect to their networks – and then boom! The cyber criminal is in!” – says Tom Morris, Technology Sales Consultant at Certus.

 

Why investing in cyber security is the right choice.

The fallout for hacked companies can be high, ranging from financial loss and damage to their corporate reputation, to the risk of valuable information being stolen, including products, designs and prototype, as well as sensitive information about plans and corporate strategy.

WHERE MIDSIZE HACKED COMPANIES ARE MOST FEELING THE PAIN:

(Source: CIO Magazine &  CSO Magazine)

To avoid these losses companies should view spending on cyber security as an imperative. However, businesses actually tend to be more inclined to invest in growth activities than in defensive measures.
Indeed customers, external partners, suppliers, vendors and purchasers say they avoid doing business with companies that they believe do not protect their privacy on-line, because they don’t have a cyber security strategy.

 

 

 

 

 

 

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