7 Cyber Security FAQs

Posted: 17th May 2022

With the increase in hybrid working and digital transformation, a number of cyber security FAQs are becoming apparent from businesses.

While the implementation of new technologies is a positive shift for businesses, there’s no denying many of these technologies are changing the landscape of cyber security.

The most popular cyber security FAQs

What’s the most common form of cyber attack?

There are 3 favoured forms of attack for cyber criminals:

Phishing – the victim will be contacted via phone, email or SMS and encouraged to click on a malicious link or share sensitive information, such as payment card details or passwords. This may seem like a very simple approach that not many people would fall for, but phishing attacks are becoming increasingly sophisticated and are often more personalised attacks that incorporate social engineering – you’d be surprised what you might inadvertently divulge.

Malware – often spread by malicious websites, emails and marketing, malware is designed to spread ransomware and viruses through your network with the intent of causing damage.

Distributed Denial of Service (DDoS) – these attacks are designed to overwhelm your server or network with traffic to disrupt service and stop legitimate traffic from visiting your site or to overwhelm firewalls in preparation for an attack.

What type of business is most likely to be the target of a cyber attack?

Historically, it was most common for larger businesses and organisations to be targeted with the perception they had more to offer a cyber criminal. However, smaller businesses are now just as at risk as any other. The main reason is that cyber criminals have come to realise that smaller businesses are less likely to invest in cyber security and are therefore easy targets.

43% of cyber attacks are on small businesses.

How much does a cyber attack cost a business?

The average cost of a cyber attack last year was £8,460 with the highest cost recorded at £15.8 million. However, this is just a monetary cost. It’s important to remember that your business is likely to be hit harder by the damage to reputation, loss of trust from customers and downtime.

60% of businesses that fall victim to a cyber attack will go out of business within 6 months as a result.

Will hybrid working hinder my cyber security?

Hybrid and remote working offer many benefits for businesses and employees alike. As the 2020 pandemic taught us, every business should be prepared to move comfortably to full home working arrangements should they be forced to. But that’s not to say it doesn’t pose a risk.

With teams accessing the network from various locations, your network boundary is dramatically increased. Just one unsecured network in an employee’s home could be all it takes for a hacker to find their way in. To avoid this vulnerability, you need to make sure everyone in your business has access to comprehensive cyber security training.

What is the most common cyber security mistake businesses make?

If you think it won’t happen to you, you’re a sitting target. The majority of cyber attacks on SMEs could be prevented with simple measures and respect for the importance of cyber security. If you don’t have a comprehensive cyber security solution in place, it’s only a matter of time before your vulnerabilities are exposed.

What should my top priorities be to improve my cyber security?

Multi-factor authentication – taking this simple step will help secure your Microsoft 365 account and is believed to prevent 99.9% of account compromise attacks.

A secure email system – email is the most common attack vector.

Disaster recovery plan and backups – having an effective recovery plan and reliable backups will limit downtime and can make all the difference between surviving a cyber attack and not.

How much does a cyber security solution cost?

The cost of an effective cyber security solution will depend on the needs of your business. On average, a business will spend around 10% of their IT budget on cyber security but it’s important to consider potential losses for your business in the event of an attack and budget accordingly.

Be confident in your cyber security

At Jupiter IT, we understand better than most that every business is different. That’s why we offer solutions that are tailored to your budget. If the most obvious solution is out of your reach, we will work to find a way to get your business the protection it needs at a price you can afford.

And our cyber security services don’t stop there. We provide our clients with tailored cyber security training for all of their staff as well as support and consultancy that’s just a phone call away.