CYBER INSIGHTS: Friday 22 November 2024 – Today’s SME Cybersecurity News & Intel – CYBERInsights Small Business Cybersecurity News

Helping Keep Small Business CYBERSafe!
Gibraltar: Friday 22 November 2024 at 07:00 CET

CYBER INSIGHTS: Welcome to Today’s Edition of CYBERInsights
The Roundup of Today´s UK Small Business Cybersecurity News
& Intel …
Written & Curated By Iain Fraser – Cybersecurity Journalist
CYBERInsights – First for SME Cybersecurity News
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#CyberInsights #CyberSecurity #CyberMedia #CyberPR #CyberAwareness
#SME #SmallBusiness #smallbusinessowner

1). FESTIVE SEASON: Keeping your Small Business Cybersafe this Festive season. The holiday season brings a surge in online transactions, making it a peak period for cyberattacks on small and medium-sized businesses (SMBs). Cybercriminals ramp up efforts during this time to exploit vulnerabilities, leaving SMBs particularly at risk. This report by financial giant Mastercard provides practical advice to keep your Small Business Cybersafe this Festive Season. The impact of a cyberattack can be devastating. An industry report reveals that in 2023, nearly 43% of all attacks targeted smaller businesses, with costs ranging from €110,000 to €1.14 million per incident. Small business owners are urged to strengthen their cybersecurity to avoid severe financial and operational repercussions during this critical period.

2). CYBER INSURANCE: According to the latest (8th) Hiscox Cyber Readiness Report, The proportion of companies facing attacks has increased for the fourth straight year. The findings align with the World Economic Forum’s Global Cybersecurity Outlook 2024 and underscores the growing prevalence of cyber attacks globally. The latest Report highlights the increasing frequency and complexity of cyber attacks, their effect on brand trust, and the double-edged sword of disruptive technologies. Two-thirds of organizations globally (67%) and in the UK (70%) have experienced an increase in cyber incidents over the past 12 months compared to the previous year. The report concluded that the rise in cyberattacks is putting business reputations and brand trust at greater risk.

3). CYBER MITIGATION: Small and medium enterprises (SMEs) face numerous cyber threats that can jeopardise their operations. The most common types of cyber attacks include Phishing, malware, Ransomware, and Distributed Denial of Service (DDoS) attacks. Phishing attacks are particularly concerning, as they exploit social engineering tactics to obtain employee credentials or sensitive information. For example, a small business may fall prey to an email that appears legitimate, prompting employees to divulge passwords or financial details, leading to severe consequences.

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CYBER Insights – Helping Keep Small Business CYBERSafe!

Launched in 2020 by Cybersecurity Journalist Iain Fraser and his team at IfOnly… CYBERInsights was developed to be the go-to platform providing definitive, reliable & actionable Cybersecurity News, Intel, Awareness & Training specifically written and curated for Small Business & Enterprise Owners, Partners and Directors throughout the UK. #CyberInsights #CyberSecurity #CyberMedia #CyberPR #CyberAwareness #SME #SmallBusiness #smallbusinessowner