The Growing Menace
Cyber attacks are more prevalent than ever. Despite growing awareness, many organisations neglect simple, effective solutions. This oversight is costly and fuels a booming cybercrime industry.
Cyber attacks happen daily, targeting businesses, governments, and individuals. Most attacks are basic and exploit well-known vulnerabilities. Yet, many organisations fail to implement simple security measures, leaving themselves exposed.
The Cost of Neglect
Cyber attacks are financially devastating. By 2028, the global cost is expected to reach $13.8 trillion USD. The biggest cost of all is when company owners are forced to pay criminals the ransom demand. Without proper safeguarding measures, this situation becomes unavoidable. Other costs include breach fines from the ICO and indirect costs caused by reputational damage and lost business.
Ironically, many attacks could be prevented with straightforward security practices. Exact data on ransom payments is hard to find because most companies prefer to keep these breaches quiet for obvious reasons. However, there’s plenty of evidence that shows $100s of millions worth of ransom payments.
Convenience Over Security
Many neglect basic cyber security for convenience. In a fast-paced world, ease of use often trumps robust security. Passwords are reused, updates postponed, and warnings ignored, creating opportunities for cybercriminals.
The Rise of the Cybercrime Industry
Neglecting basic security has fostered a thriving cybercrime industry. Hackers are organised and professional, brazenly advertising their services on the dark web. They provide ransomware packages with support and updates, operating like legitimate businesses. This professionalisation makes combating cybercrime even harder.
The Simple Solutions
Fortunately, many cyber threats can be mitigated with simple measures. Examples include using strong, unique passwords, enabling multi-factor authentication, updating software regularly, and educating employees about phishing. However, these are just a few examples. It’s also crucial to develop a robust set of policies and processes to ensure staff are fully engaged with the entire security process. These steps are not complicated and are cost-effective but often overlooked.
The Role of Education and Awareness
Education and awareness is crucial. Many are unaware of the risks or how to protect themselves. Cyber security training should be integral to any organisation’s strategy. Public awareness campaigns can also educate the broader community.
How Remson Can Help
At Remson, we offer a range of Cyber Security services to help companies achieve Cyber Essentials. Our new subscription service provides inclusive consultancy and ongoing support to maintain Cyber Essentials standards. We partner with you to enhance your cyber security, ensuring continuous protection and compliance.
Ready to secure your business? Contact Remson today to learn more about our comprehensive cyber security solutions.