In the digital world, cyber-crime has increased in both frequency and complexity. Modern cyber-criminals are adept at spotting even small lapses in cyber-security. Did you know in 2021, 39% of UK businesses reported a cyber-security breach in according to the government’s Cyber Security Breaches Survey. The key to preventing such attacks is to understand how they happen. It is vital that you recognise potential cyber-exposures and implement strategies to prepare for them.
Our Exe Insurance team have list five cyber- security risks below for you to consider:
Poor patch management
Patch management is the process of acquiring and applying software updates to a variety of endpoints, including mobile devices, computers, servers, and embedded devices. If new software updates are not swiftly installed, cyber-criminals may exploit weaknesses. Reduce your cyber-incident risk by readily fixing any software vulnerabilities and implementing a patch management program.
Phishing
Phishing attacks exploit people, aiming to trick individuals into doing the wrong thing, such as clicking a suspicious link that downloads malware onto their device. According to government data, 83% of all cyber-breaches in 2021 stemmed from phishing attacks. To lessen the risk, implement email filtering and blocking mechanisms and conduct staff phishing awareness training.
Weak passwords
Thanks to automated password-cracking tools, cyber-criminals can rapidly guess passwords lacking in complexity. Ensure employees set strong passwords using the National Cyber Security Centre’s (NCSC) three-random-word technique. Additionally, set up multifactor authentication (MFA), where employees must provide a second piece of information before logging in.
Malware
Malware comes in many forms. For instance, spyware monitors internet activity to steal information, and adware infects a user’s computer through pop-up adverts. To combat all malware types, consider installing anti-malware software and remind employees never to download files from untrustworthy sources.
Ransomware
Cyber-criminals use ransomware to deny a user access to files until a ransom is paid. Address this growing tactic through holistic cyber-security measures. Furthermore, back up sensitive information on external servers regularly. This way, you can easily restore it should the worst happen.
Cyber risk is a current and critical issue, and we would be happy to talk through the cover that you may need so that you can be sure that you are fully protected. Get in touch with us for a chat on 01392 797733 or email sales@exe-insurance.co.uk.
