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Minimise Risk Now - Embark On Your Data Security Journey

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With the new EU General Data Protection Regulation coming into effect on the 28th May 2018, all UK businesses need a serious wake-up call in being prepared for the latest cyber-security measures and personal data-protection?

From what we have seen with the latest ‘WannaCry’ malware attack hitting around 40 of the UK’s National Health Service databases plus 74 countries worldwide, this is the largest ever data-security breach to happen within the 21th century. 

Additionally with other cyber-crimes this year hitting Zomata, Wonga and TalkTalk these are just a few examples of what happens when there is software vulnerability, poor security and lack of internal and external data control with ‘IoT’ can put data at a serious risk.

Being vulnerable to a cyber-crime not only has a deep impact on business functionality and profitability but we have also seen and witnessed the devastating reach on people’s lives when their data has been compromised.

cyber crime data graphic

Are businesses facing up to the reality?

Axial Security Systems, one of the UK’s leading solution providers and systems integrators in network, security and services have discovered findings from a recent survey that 32% of C-level directors have not implemented any kind of response plan for a cyber-attack. Although this figure seems relatively low the question has to be asked are companies really being honest as to how they are dealing with this issue.

Mike Simmonds, Managing Director Axial Systems says:

“Our survey reveals that there is much more work to do. Every organisation should have some sort of a cyber response plan in place – and senior directors within a business should certainly be aware of whether or not such a plan has been prepared. That’s clearly not the case currently.”

Some points to consider...

  • How many C-level directors are aware that cyber-security should be part of the long-term business strategy and not re-directed to IT as just a solution?
  • How knowledgeable are C-level directors aware as to what kind of data their businesses hold?
  • Do C-level directors really have an understanding of the long-term impact a data-breach will have on their business?

Cyber crime graphic

Are businesses going to be a victim of their own failings?

With GDPR on the countdown in just over twelve months the current situation with businesses leaving themselves wide open to tough penalties is a reality in itself. Depending on the business size, changes implemented could take a minimum of 2-3 months or up to 2-3 years depending on the company structures in place.

With record data breach fines recently issued by The Information Commissions Office (ICO) to TalkTalk , Wonga, The RSA and many more to date, data infringements will apply to companies if they do not take responsibility in keeping their customers and employees data protected from the up and coming rise of cyber-crime. 

Some points to consider...

  • Is your third-party security software reliable?
  • What infrastructures are in place for IoT(Internet of things)?
  • What infrastructures are in place for internal and external networking?

Start the journey now...

A survey issued by the British Chambers of Commerce (BCC) states the last year one in five businesses have been affected by cyber-crime with the addition of 21% of businesses suffering in profit growth.

Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC) says:

“Cyber-attacks risk companies’ finances, confidence and reputation, with victims reporting not only monetary losses but costs from disruption to their business and productivity. While firms of all sizes – from major corporations to one-man operations – fall prey to attacks, our evidence shows that large companies are more likely to experience them."

As data has become more valuable than oil, businesses really do need to protect their value assets. The question is still being pondered by many as to what it actually means so advice first is crucial for any business as the starting point.

Some points to consider...

  • Investigate the knowledge and understanding of what is known internally about security and data policy?
  • How clear are you going to be to your customers in how their personal information is used?
  • Assessing staffing needs and knowledge about cyber-security.

We live in a digital world and change is about asking the right questions of how you get started on your journey.

Make sure you are ready.

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