Six risks of not updating your cyber security protocols
The average cost of a data breach is £3.4 million. With the introduction of AI and automation, it is more important now than ever before to enhance your cyber security measures.
From email scams to malicious websites, there may be many ways that your team could inadvertently put your business at risk. Alongside this, you also need to think about targeted or randomised hacking attempts which could result in significant data loss of vulnerabilities are exploited.
Understanding the risks of not updating your cyber security protocols should help you to understand just how diverse the threats are, and how you can act to protect your team and business.
While your employees should be careful when accessing the digital world, they shouldn’t have to work in fear that any action could result in a compromised system. Poor cyber security measures can result in:
On the contrary, implementing better cyber security measures can allow them to make the most of your systems and software. Alongside this, you should also consider the positive impact that team testing and training can have. Ongoing training can support your employees by teaching them to spot the signs of scams or malicious emails, decreasing their overall level of vulnerability. This can help them to feel significantly more secure and help to protect them both in and out of the office.
Anne-Marie Blazdell
Computer security can also have a vast impact on how well your business is able to grow. While larger companies may be able to recoup their losses from cyber-attacks, smaller businesses may struggle.
Business growth will require you to prove to employees and clients again and again that your business is one that can be trusted to protect their data while providing the goods or services they require. Paying greater attention to your IT Strategy moving forward can assist you with growth and meeting goals while ensuring that your business technology works at its best.
Recently, Google, Amazon, and Cloudflare have all come forward about the rise in Denial-of-Service attacks attempted on their systems. In fact, Google stated that they faced seven times as many attacks in 2023 than they did in 2022.
Should one of these attacks successfully infiltrate your business, you could suffer from:
Some hackers may try to ransom your data. They may ask for payment, often in a form of cryptocurrency, for the restoration of your data. Although it may be tempting, you should never go along with a hacker’s demands. They may still withhold your data, or even leave an entry point in place for future access. Instead, speak to cyber security experts and ensure that breaches are correctly reported.
If your cyber security protocols are not regularly updated, your confidential business data could very well fall into the hands of malicious users. It is best to operate a zero-trust policy for:
Data loss doesn’t just affect your business and client relationships. It could also see you seriously out of pocket. In particular, if the breach was caused by poor cyber security measures and a lack of data protection principles according to GDPR, you could see yourself fined up to £17.5 million or 4% of your annual turnover, depending on which is higher.
Alongside fines, failing to keep your cyber security protocols updated could also result in less client trust, meaning lower profits. A good business needs to be able to create and maintain positive working relationships. To do so, pay close attention to your cyber security measures so you can guarantee to clients that you have done everything possible to keep their data safe.
Outside of fines and lack of funds, you may also need to consider the other legal implications that arise when you have poor cyber security measures in place. In particular, the failure to report any breaches could result in lawsuits from both GDPR compliance and clients themselves.
You may find that individual employees need to be sanctioned for repeated incidents, or if it is found that they deliberately caused a breach. In the case of malicious attempts, these should be formally reported and you may also be within your rights to dismiss that individual for gross misconduct.
Keep in mind that, in the worst instances, cyber security breaches could result in the complete shutdown of your business. Ergo, you should implement those measures as soon as possible.
It is evident that cyber attacks could decimate your working day and, in the worst-case scenario, your entire business. Implementing several cyber security measures, including updating your protocols, could help to keep unauthorised individuals out, safeguarding your business data.
You should consider:
For more information on improving your cyber security measures and updating your protocols, book a meeting with one of our cyber experts today.
Anne-Marie Blazdell
Anne-Marie Blazdell is a Marketing & Communications Manager with expertise in digital marketing, content creation, and IT solutions. With a strong foundation in graphic design, she trained at Farnborough College of Technology and Southampton Solent University before advancing into marketing and business IT support.
Since joining Syn-Star in 2022, Anne-Marie has specialised in crafting SEO-optimised website content, managing social media, and helping businesses navigate the complexities of IT. Her work bridges the gap between technology and business, making IT more accessible and effective.
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Anne-Marie Blazdell is a Marketing & Communications Manager with expertise in digital marketing, content creation, and IT solutions. With a strong foundation in graphic design, she trained at Farnborough College of Technology and Southampton Solent University before advancing into marketing and business IT support.
Since joining Syn-Star in 2022, Anne-Marie has specialised in crafting SEO-optimised website content, managing social media, and helping businesses navigate the complexities of IT. Her work bridges the gap between technology and business, making IT more accessible and effective.
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