9th August, 2014

What cyber security mistakes are companies making?

When it comes to managing risks online, there are a number of different factors which small business owners need to consider. Whether it is facing the specific cyber security challenges that come with your industry, or just the threats that every firm faces on the internet, there are serious issues which every operation needs to take into account.

However, many companies are failing to make the most of these challenges, at least according to a recent report from KPMG. The study into the state of company cyber security found there are a number of ways in which businesses are missing their cyber security goals.

One of the most important ways companies are failing to achieve proper cyber security is by attempting to reach 100 per cent protection against cyber threats. KPMG suggested that companies are fixating too strongly on preventing cyber crime from occurring, which leaves companies unprepared for the inevitable attack that gets past their defences.

Instead, companies need to have processes in place for when these attacks do occur so that they can recover properly and not let cyber crime affect the overall profitability of their operations. Implementing detection techniques and taking out comprehensive business insurance are just two ways to ensure that your company can recover from a cyber attack.

Another mistake many companies make is to place too much importance on getting the best cyber security measures on the market, along with the best personnel. While this is an admirable goal, it is likely these measures will be too expensive for small and medium-sized businesses to achieve.

As an alternative, KPMG suggests that firms should invest in the right measures for their size and budget, while integrating cyber protection insurance across the scope of the company. Taking these steps will offset the impact of cyber attacks and ensure that your business has the right level of protection for its operations.

Author: Murray Bruce