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The ugly truth: the real cost of cyber breaches to SMEs

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Small and medium-sized enterprises (SMEs) rarely trigger national headlines for breaches in data security and compliance, not because they aren’t a target but because the monetary impact is small compared to the big corporations.  However, breaches are all too common and while the cost of cyber breaches to SMEs, including the impact to business operations, remediation work and resultant fines, may not run into millions, it can do untold damage. SMEs are agile and lean in their business operations, and so unbudgeted costs can severely impact finances.

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Cyber security is everyone’s responsibility

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SMEs form a critical component of a business supply chain, yet ironically, they can also be the weakest link. Guy Lloyd at Policy Monitor explains why SMEs need to step up their cyber resilience

Organisations at the top of the supply chain rely on a nimble network of SMEs to provide niche products. This unique status provides SMEs with disproportionate access to important information. So, while it might be the big-name brands that generate attention grabbing headlines about data breaches, it can be the weak security credentials of smaller organisations that expose the entire chain.

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5 Steps to Sound Cyber Security

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Smaller organisations are used to changing and adapting but even the most flexible have been tested in 2020.  Ironically, criminal elements have been quick to adapt their businesses, adding many Covid-19 related attacks to their arsenal.  Doing little or nothing to offset these risks and hoping that a cyber-attack “won’t happen to me” is not a responsible option. Defending an organisation from cyber threats doesn’t need to be complex, costly or confusing. Here are 5 steps to help you get organised and ensure your cyber security defences are up to the job.

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How to use the CSPM infographic

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In this digital age managing cyber security, regulation and compliance is a significant part of operating every business. Just to complicate things further since the introduction of the EU General Data Protection Regulation (GDPR) any business that handles customer and supplier data needs to have security controls in place to protect that data.

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Get serious about cyber security or risk missing out on lucrative tenders

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Failing to take cyber security seriously could cost SMEs more than they realise. At a time of increased cyber threats, organisations expect suppliers to step up and evidence their cyber security credentials. Guy Lloyd at Policy Monitor explains 3 simple steps to certification that could ensure your tender bid is not rejected

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Covid-19 related cyber scams – 3 ways SMEs can better protect their business

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Cyber criminals are exploiting concerns over Coronavirus to perpetrate cyber-attacks. Guy Lloyd at Policy Monitor explains the 3 steps SMEs can take to proactively protect their business and their data.

The coronavirus pandemic has taught us the importance of hand hygiene and now there is a need for greater cyber hygiene. As our day-to-day lives have changed, so too has the security threat landscape. With many workers remotely accessing vital business applications from home, security risks have inevitably increased. Cyber criminals have no morals or ethics and don’t stop their activities even for a global pandemic. In fact, attacks have stepped up as the bad guys find ways to exploit our fears to perpetrate cyber-attacks.

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GDPR – Keeping personal data safe and secure

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Protecting personal data is at the heart of the General Data Protection Regulation (GDPR) but there remains confusion between gaining permissions to hold and process this data, and protecting it from theft or compromise.  Guy Lloyd at Policy Monitor explains how understanding and protecting personal data is core to GDPR compliance.Almost 2 years on from the introduction of the EU General Data Protection Regulation (GDPR) many business owners still lack knowledge about the consequences of not adequately protecting personal data. GDPR isn’t an optional requirement, it is enshrined in UK law in the Data Protection Act 2018. This lack of understanding of the legal necessity to protect personal data is proving costly to business . Since the introduction of GDPR, EU data protection authorities have fined organisations a total of €114 million.

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