Threat Zone 2020 Report – The Threat of Cyber Attacks to Businesses
Covid-19 has brought unprecedented changes on a global scale and the threat of cyber attacks to businesses is constant. With the virus changing how businesses run, it pushed a further reliance on technology now and into the future. The Threat Zone 2020 report by Bi.Zone surveyed 152 companies across multiple sectors and where their cyber security stands.
Cyber security is a continuous process and should be discussed on a regular basis yet "46% of large businesses do not hold regular meetings to discuss cyber security matters with top management". Consistently and openly talking about the topic can ensure everyone on all levels have an understanding. However, "38% of companies pay no attention to cyber threat awareness among their staff". Social engineering attacks are on the rise as well as phishing and these are becoming more sophisticated and harder to tell whether it is fake or not. Investing in regular training for staff and conducting risks assessments can minimise the impact of a cyber attack. The image below, taken from the report on simulated phishing attacks, highlights the benefits of long term training.
When (not if) a cyber attack occurs, does your company have a business continuity/ emergency recovery plan? Bi.Zone found "83% of companies have no detailed recovery plans to maintain business processes as well as infrastructure and applications". The finance sector had the most developed procedures whereas the retail sector had the least.
Long term cyber security measures evolves to having cyber resilience where instead of reacting to a cyber attack, you can prevent it and mitigate the cost. Covid-19 has redirected our attention to the present but now, halfway through the year, we can begin again and shift our focus to incorporating a robust cyber resilient mindset far into the future.
To access the report here.
Image source from Threat Zone 2020 Report.