How the right cyber cover can protect your business continuity
Most SMEs assume cyber attacks are an issue only big organisations need to worry about. But the truth is, cybercrime is a numbers game. Criminals cast a wide net, using malware, ransomware, and social engineering to attack indiscriminately, then quickly exploit any weaknesses they find in all sizes of business.
If you don’t have a plan for how you’d respond to finding yourself locked out of your system and facing a ransom demand, the consequences could be extremely damaging.
It’s easy to underestimate the impact a cyber event could have on your business. But the fact is, a breach has the potential to be just as damaging to your livelihood as a fire or flood – if not more so.
What impact can a cyber breach have?
From ransomware to social engineering scams, there’s a whole host of attacks criminals can hit you with to take control of your systems, funds or data. Attacks occur indiscriminately and can result in devastating setbacks such as:
- Reputational damage – rebuilding customer trust after a data breach can be challenging, and reputational impact can be significant and long-lasting.
- Financial impact – the costs associated with addressing and recovering from an attack could harm how the business can trade moving forward.
- Operational disruption – if an attack leaves you unable to carry out business for a prolonged period, it may be challenging to recover fully and can lead to a serious loss of revenue.
- Legal and regulatory implications – failure to adequately protect customer data can lead to legal consequences, including fines and lawsuits.
- Intellectual property theft – the competitiveness of your business could be affected if valuable IP, such as proprietary processes, patents or trade secrets, are revealed.
- Contractual penalties – delays in working and fulfilling contractual responsibilities can lead to financial penalties and loss of contract due to delays in work.
Get in touch on 0116 260 0506 or via email at mail@harboroughportas.com to speak with us about how a cyber attack could affect your business.
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