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14 technology – connectivity


Cyber attacks: Why you can’t afford to bury your head in the sand


Reports of cyber-attacks have become increasingly common over the past few years. Whether it’s the high-profile loss of personal data by TalkTalk in late 2015 or the 4,000 data breaches in just three years at UK councils, what was once viewed as a technical IT issue is becoming a major business problem, writes Tim Walker, managing director of Taylor Made Computer Solutions


The Confederation of British Industry says 81% of large businesses and 60% of small businesses experienced an attack in the 12 months leading up to July last year. What’s more, the Information Commissioner’s Office reported a 43% increase in reported data breaches between July and September 2015. But despite this just over half of small businesses think it’s unlikely or very unlikely that they’d be a target for an attack, according to recent research.


So why would businesses be burying their heads in the sand and what are the potential implications of an attack to a company’s bottom line?


One reason leaders of many small businesses may think they’re impervious to attacks could be because they don’t think of themselves as companies that deal with data or online information. There’s a common misconception that it’s only high-profile or online retailers who are open to hacks. However, in this day and age almost every organisation is at risk – from builders merchants to beauty salons and colleges to car dealerships.


The negative fallout of a cyber-attack on any business, regardless of size, falls into three distinct categories; reputation, customer base and finance.


Reputation


Benjamin Franklin famously said: “It takes many good deeds to build a good reputation, and only one bad one to lose it.” You only need to look at the negative headlines TalkTalk suffered following its cyber-attack to understand how much those words ring true. Nearly a third of small businesses that have experienced an information or data breach said their brand had been damaged, according to a recent survey by KPMG and Cyber Streetwise.


Customer base


The same study showed that 58% of consumers said a cyber breach would discourage them from using a business in the future. It also found that almost a third of small businesses experienced a loss of clients as a result of a cyber-attack.


Now more than ever consumers want to know that their data is safe. High-profile cases such as


businessmag.co.uk


that of TalkTalk and JD Wetherspoon have thrown the issue to the fore and the general public is much more aware of its rights when it comes to data protection. What’s more, even the most loyal of customers are willing to walk away from a company they’ve stood by with for years if they feel their sensitive personal information is at risk.


The risk is clear: a loss of data is very likely to result in a loss of customers.


Finance


As well as the financial implications of a loss of customers, those who leave themselves open to cyber-attacks can expect heavy fines.


In response to the growing issue of cyber-attacks and data protection problems across Europe, The European Parliament has finalised new rules on data protection which are due to come into force within two years. Under the reforms, companies that have breached data protection rules could be fined up to 4% of their global turnover.


With such severe penalties, businesses need to ensure they are compliant with the new regulations. They can do this by:


• Having a dedicated data protection officer. SMEs are exempt if data processing is not a core business.


• Adopting ‘data protection by design’ and guaranteeing data protection safeguards are built into products and services at the earliest stage of development.


While the potential threat of attack may fill boardrooms with fear, there are simple steps every organisation can take to mitigate the risks of a cyber-attack. At Taylor Made we are recognised as having some of the most robust information security management systems in place to protect both our and our clients’ information. We offer a tailored service where we work with businesses and organisations to help devise a plan and implement processes that will keep their data safe from harm. The fact we hold the international standard ISO 27001 Information Security Management System accreditation, which is only awarded to organisations which live up to the stringent international standards for information security, means we know exactly what it takes to ensure the highest level of security.


To find out more about how Taylor Made Computer Solutions can help you, call or email.


Details:


01329-239900 enquiries@tmcs.co.uk


Follow TaylorMade on twitter: @TaylorMadeCS


Top cyber security tips – audit and assess your data risk


1 The first step is to conduct an information risk assessment of your operations. This should include the nature and extent of your organisation’s premises and computer system, the number of staff you have and the extent of their access to the personal data.


2 The next stage is to audit the levels of security you currently have and what other measures you should consider. An IT services company like Taylor Made can do this for you or you can look at the ICO’s website at ico.org.uk for guidance on doing this yourself. Whatever you opt for, your computer security needs to be appropriate to the size and use of your company’s systems. They should also be appropriate for your business practices. For example, if you have staff who work from home you should put measures in place to ensure this doesn’t compromise security.


3 Finally, you will need a plan for the event of a data breach. This should include containment and recovery, assessing the risks, notifying people about the breach and evaluating your response.


THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2016


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