A Data Breach might be happening right now …

A Data Breach Might Be Happening Right Now ....

Data Breach – this can occur when you don’t know it and could be happening in your business right now …….

The average time before a data breach is detected in a business is 205 days and has been know to be as long as 8 years.

In the real world a bank robbery occurs in a matter of minutes , in the virtual world a compromise to your security and the gradual stealing of data could occur over many days and even years without you being aware.

It is therefore very important that a businesses has effective cyber security measures in place to combat and manage a potential data breach.

The key to this process centers around three main areas:-

  • The most up to date software or software that is regularly patched.
  • Effective risk management procedures which are constantly reviewed and supported by management at all levels.
  • Regularly updated business continuity /disaster recovery plans.

With this in place it increases the chances of discovering a compromise of your computer systems at an early stage…. – it is very unlikely that you will achieve 100% certainty.

Once discovered it is vitally important that the management of a data breach is carried out in a prompt and organised fashion . If it is not it could make the difference between a business surviving and not being a viable entity post data breach.

A cyber liability insurance policy can help mitigate the impact of a data breach by providing the following benefits:-

  • Crisis Management – this involves the appointment of a crisis management consultant to assess and manage the data breach.
  • Public Relations Costs – the purpose of a PR consultant is to manage the data breach in the public domain so that reputational damage can be minimal.
  • Call Center Costs – the utilization of a call center will assist in the additional costs incurred in the management of customers concerns about the possible loss of personal information and notification of the incident.

Cyber Streetwise – 23 shopping days to Christmas

streetwiseCyber Streetwise – only 23 days to Christmas Day !

In January 2014 the government launched a campaign to encourage the way people protect themselves from falling victim to cyber criminals.This is part of the governments’ overall National Cyber Security Programme.

The ‘Cyber Streetwise’ campaign aims to promote “best practice ” in the way people view online safety and provide the public with the skills and knowledge they need to take control of their cyber security. .

Most of us either possess a smartphone , tablet or laptop all of which contain a great deal of our personal data . Cyber Streetwise also aims to helps raise awareness of the importance of keeping your personal data safe and keep it out of the clutches of cyber criminals..

The official Streetwise website offers help and guidance www.cyberstreetwise.com

The Cyber Streetwise campaign underlines that safety precautions taken in the real world that these need to be replicated in the virtual world. Evidence shows that shoppers don’t adopt the same behaviour when shopping online as contrasted with shopping on the High Street. A person wouldn’t walk around with their bag open or wallet on show, yet when shopping online due to the speed of technology, people can be susceptible to unnecessary risk if they are not careful when using their credit card.

There a a number of suggested actions that people can take in order to protect themselves :-

The use of strong, memorable passwords
The installation of anti-virus software on new devices
Ensure that privacy settings are checked on social media
Shop safely online by ensuring that online retail sites are secure
To download software and application patches when prompted
With Christmas almost upon us it is important to be Cyber Streetwise.

As technology develops so do more sophisticated attacks take place in an an effort to access individuals personal data. It is therefore vitally important that precautions are taken to protect this personal data by individuals and businesses being “Cyber Streetwise” in this technology driven world that we now live in.

Cyber Monday is coming ……..

cyber mondayCyber Monday is coming …… 30th November 2015

A reminder why Retailers should consider Cyber Insurance !

Last year on Cyber Monday in 2014 , consumers spent £7,523 per second ….this is traditionally one of the busiest day on the internet where consumers take advantage of many fantastic deals ahead of Christmas.

China recently had their version of Cyber Monday which was the biggest single shopping day in the world with $14.3 billion settled via its payment service.

Fact – 23% of all retail transactions take place on line in the UK.

Fact – 10% of Britain’s whole economy is on-line ….. the highest in the world.

In this environment companies computer systems are under enormous strain and this presents an ideal opportunity for hackers to take advantage of any vulnerabilities that may exist , be that stealing data , injecting a virus or holding a website to ransom which could cause chaos and massive disruption to a business.

At this time many retailers will see an extraordinary exchange of data which will include consumers credit and debit cards and other personally identifiable information. In managing this risk a business must have robust security systems and adequate privacy policies in place to mange this exposure. It is unlikely that a business will be able to 100% prevent a cyber attack or a breach which is where cyber insurance can play an important role in the armour that a business has in averting these types of threats.