Cyber Attacks and Business Growth

A recent report by the UK government found that two in every five businesses (39%) have experienced a cyber attack or security breach in the last 12 months.

The report found that fewer businesses are using security monitoring tools to identify suspicious activity, highlighting how many businesses are unaware of the attacks and breaches they are facing. The report also found that 17% of businesses in the UK, do not have up-to-date anti-virus software.

These statistics highlight the threat that many businesses are not prepared to deal with the ever-present threat of cyber attacks. The bottom line is that cyber attacks directly affect a business’s growth.

In this blog post, we will highlight the impact of cyber attacks on UK businesses and share practical advice on how your business can take steps to prevent cyber attacks from occurring. Let’s get started.

Impact of Cyber Attacks on UK Businesses

According to the National Cyber Security Centre, hundreds of businesses and organisations in the UK reported cyber incidents in 2022. Several dozen of these were deemed significant enough to require a national-level response. These incidents included various malicious cyber activities including ransomware, malware, reconnaissance, disruption of systems and services, data exfiltration, and network intrusions.

Efforts to defraud UK businesses have a direct impact on their growth. Recent data indicated that the cost of a data breach in the UK is on the rise, jumping 8.1%. At more than £4.5 million, the average total cost of a data breach in the UK is the fourth-highest in the world, higher than countries such as Germany, Japan, and France.

The majority of UK businesses who have experienced a data breach say that they have experienced more than one. There are many reasons for the recurrence of breaches. These include employees without adequate cybersecurity training, unpatched vulnerabilities in a company’s network, and human error.

How to Avoid Cyber Attacks

While the threat of cyber attacks is very real in the UK, the good news is that there are many steps businesses can take to reduce the likelihood they will be affected. Let’s take a closer look at some of these.

Partner With an Expert

As a business, you shouldn’t have to face up to the threat of cyber attacks alone. Here at SYTECH, we are digital forensic experts, helping businesses to recover, analyse, and investigate detailed files, internet history, hidden files, and more.

We offer a range of services to UK businesses. For example, our computer forensic experts are here to investigate your computer data, recovering and examining digital data.

As your dependable digital forensics support, we also offer mobile phone forensics and specialist forensics. We are also available to act as your expert witness in court cases.

Ensure Your Systems and Software Are Updated

Cyber attacks often occur because a business’s security software and systems are outdated, which results in vulnerabilities being exposed. Cybercriminals and hackers are therefore able to take advantage.

We recommend that businesses in the UK invest in a patch management system. This system keeps track of all system and software upgrades, which ensures that a business’s systems are up-to-date and secure.

Set Up a Firewall

A firewall, in computing, refers to a network security system. This system monitors and controls both incoming and outgoing network traffic based on predetermined security rules. Effectively, it establishes a barrier between an untrusted network and a trusted network.

If your business doesn’t already have a firewall, it’s important to set one up. This is one of the most efficient strategies a business can take to protect itself. Any brute force assaults on your business’s systems or network will be blocked before any significant harm can be caused.

Make a Backup of Your Data

Data backups are a critical aspect of data security. There are many good reasons for this, including because preventive measures don’t always work. Many businesses who end up losing their data are simply unable to recover from the impact and end up closing down.

Therefore, we recommend that you always have your business data backed up in the case of a disaster, such as a cyber attack. This will help to avoid a significant slowdown and the loss of important information and data.

Keep Track of Who Has System Access

In addition to cyber attacks, physical attacks on computers are also possible. Therefore, it’s important to have control over who has access to your network.

For example, it is possible that a person may enter your place of business and insert a USB key with infected data into a computer, resulting in them infecting your network or giving them access. It’s a good idea to install a perimeter security system. This is a way to prevent break-ins and cybercrime.

We also recommend that employees use separate passwords for each program they use and change them frequently. This will help keep your business safe from both internal and external threats.

How to Avoid Being a Victim of a Business Cyber Attack

As this blog post highlights, the risk of cyber attacks in the UK is very real. Cyber attacks pose a serious threat to a business’s growth. The above information and steps will help your business protect itself and reduce the risk of a damaging cyber attack.

SYTECH are leading experts in recovering, analysing, and investigating cyber security issues for UK businesses. We offer unrivalled experience and expertise. If you would like to learn more about how we can help your business, please don’t hesitate to reach out to our team.