Every business is vulnerable to cyber crime.
The cost of recovering from a cyber outrage is not limited to downtime or the costs of restoring the data. You may take time to recover your reputation, both on and off line, you may lose clients and you may even be fined.
If a cyber terrorist has been in your system for too long your back up may be useless. Could you afford to respond to an attack on your business?
Cyber terrorists are just as interested in small and medium businesses as they are big ones – in fact more so – a SME is less likely to have the money to protect themselves as well as a larger company.
Even companies that have taken all the right precautions can be affected – a regular tried and tested back up, virus protection and firewalls might stop external threats, but the biggest risk to business can be the member of staff who gets taken in by a genuine looking email or attachment. Or your own home grown cyber terrorists who use the company IT for their own personal use.
One of our clients were infected with the Cryptolocker virus. This locks down the system and demands a ransom to release the files. Although our clients had off site back ups, managed in the cloud and robust cyber resilience plans, they still lost days of work while the systems were initially restored and then fell over again, not once, not twice, but three times.
The business eventually rolled back their backups three weeks which required rekeying of data as well as catching up with lost work.
The cost of the cyber clean up and down time was in excess of £250,000 in lost fees, temporary staff costs, data and system clean up and restoration across their five offices. A cyber liability policy that cost just £109.50 per year reimbursed them and kept their business alive.