Many of us check to see if our doors are locked before we go to bed. We might be pretty sure it’s already locked, but we know it’s worth double checking just in case. It’s common sense. That’s why it’s so surprising to see, according to a recent UK report, that only a third of businesses check their own cyber security locks by conducting a cyber risk assessment.
Throughout the report, there is a stark contrast between the amount of breaches companies are experiencing and the measures they are taking to prevent these breaches from happening. For example, the report found that nearly 40% of business surveyed reported at least one attack or breach within the past 12 months. What’s more, for many of these businesses, a breach is not a one and done experience. Half of the organizations that were attacked said they’ve experienced an attack once a month and a quarter of these businesses report attacks on a weekly basis.
If your home was being broken into on a weekly basis, you’d probably start double checking those locks. Yet, according to the report, businesses are not taking the necessary steps to protect themselves. In addition to the lack of cyber risk assessments, only 33% of businesses have a formal cyber security policy. And while phishing scams accounts for 83% of the attacks businesses reported, only 14% of businesses have conducted any sort of cyber awareness training within the past year.
In a blog post on the report, Phillip Virgo makes the important point that cybersecurity measures need to be considered within the context specific to a business’ size and industry. And he’s right, there is no one size fits all approach to cybersecurity. In order for any sort of protections to be useful, it’s vital those measures are not only suited to an organization’s size and industry, but also aligns with their specific business strategy.
At the same time, however, this doesn’t mean there aren’t steps every business should be taking to protect themselves and a risk assessment is a good way to start. Anything less isn’t just leaving your door unlocked, it’s leaving the door wide open with a welcome mat out front.