Cyber Threat Landscape Mid-Year Update: Exclusive Insights for Suffolk Businesses
As we navigate through the year, Suffolk businesses must remain vigilant in the face of an ever-evolving cyber threat landscape. The digital frontier is fraught with risks that can compromise the integrity, privacy, and financial health of your business. In this midyear update, we are going to be sharing exclusive insights that shed light on the current cyber threats and equip you with the knowledge to bolster your Cyber Security defences.
The Persistent Rise of Ransomware
Ransomware remains an ever-growing threat, with 50% of businesses and 32% of charities reporting Cyber Security breaches or attacks in the last 12 months. The most common type of breach is phishing, affecting 84% of businesses and 83% of charities. These statistics highlight the importance of a proactive Cyber Security and Cyber Training strategy.
Phishing: The Bait That Still Catches Many
Despite increased awareness for some over the past year, phishing continues to be the primary gateway for cyber attacks. The simplicity and effectiveness of phishing make it a favourite among cyber criminals, emphasising the need for continuous employee education and sophisticated email filtering solutions. By following best practices when it comes to things like email security, individuals and organisations can reduce the risk of data breaches and protect their sensitive information.
Insider Threats: The Enemy Within
The insider threat is a critical security challenge that often goes unnoticed. It’s essential to recognise that threats can originate from within your organisation. Implementing strict access controls and monitoring systems can help mitigate these risks and reduce the chance of any cyber attacks from occurring.
Emerging Technologies: The Double-Edged Sword
Adopting new technologies can drive business growth, but it also introduces new cyber vulnerabilities. It’s crucial to secure these technologies at the onset to prevent future security breaches from occurring. If you’re unsure on how to do this, your IT Support provider can help.
The Importance of Cyber Hygiene
Maintaining good cyber hygiene is the bedrock of a secure business. Practices such as regular software updates, strong passwords, multi-factor authentication, and network segmentation are vital components of a robust Cyber Security framework.
Cyber Security: A Collaborative Effort
Cyber Security is not a solitary endeavour. Collaboration and information sharing among businesses can significantly strengthen the collective cyber defence and improve your Cyber Security culture.
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The Cost of Complacency
The average annual cost of cyber crime for businesses, excluding phishing-only incidents, stands at approximately ￡1,120 per victim. This highlights the financial impact of cyber threats and the importance of investing in Cyber Security measures.
Adoption of Cyber Security Controls
There has been a slight increase in the deployment of Cyber Security controls among businesses:
Prioritisation of Cyber Security Across Business Sizes
The prioritisation of Cyber Security has increased across all business sizes, though not significantly:
As we share this mid-year update, it’s clear that the cyber threat landscape is not static. Suffolk businesses must adapt to these changes with agility and resolve. The statistics provided are a call to action, urging businesses to elevate Cyber Security as a top priority. By doing so, you not only protect your business but also contribute to the security and resilience of the broader business community.
*Statistics taken from the Cyber Security Breaches Survey 2024
Ipswich based Corbel Solutions are Business IT Support providers who work proactively throughout Ipswich, Felixstowe, Sudbury, Stowmarket, Woodbridge and the surrounding Suffolk area providing a wide range of services including Business IT Support, IT Consultancy Services and Cyber Security and Cyber Security Training Services. To have a look at what some of our customers have had to say, check out our Google review page here. For more information or to have a chat with one of our team members, feel free to give us a call on 01473 241515 or email us on [email protected]. Alternatively you can book in a call with one of our team members here.