Cyber 101: The Basics of Cyber Security

Cyber security is a major priority in today’s tech-driven world, yet many businesses only start considering it after experiencing a breach or malware attack. According to the Cyber Security Breaches Survey 2021, 38% of UK businesses reported a cyber breach or attack within a year. Given the rise of cyber threats, it’s becoming more a question of "when" rather than "if" your business will be targeted.

What is Cyber Security?

Every day, you likely rely on devices like computers, phones, and card terminals, all of which connect to the internet and contain valuable data or access to it. Cyber security involves measures to protect this data and prevent unauthorised access to your network, systems, or applications. Hackers are constantly looking for ways to exploit vulnerabilities and access your sensitive information, such as intellectual property, customer details, or financial data.

Think of cyber security as the digital version of a home security system: just as an alarm keeps intruders out, cyber security safeguards your systems and data from cyber criminals and other online threats.

Understanding Cyber Threats

With the exponential growth of digital data, cyber attacks are expected to increase in the coming years. According to Bulletproof’s Annual Cyber Security Industry Report 2021, 86% of UK organisations anticipate a surge in cyber threats. Small and medium businesses, often with less robust security measures, are common targets as they still hold valuable information.

Cyber threats take various forms and can severely impact your business, ranging from data theft to system shutdowns. Some of the most common cyber threats include:

• Identity theft: Sensitive customer data, such as names, emails, passwords, and financial information, is a lucrative target for cyber criminals.

• Email compromise: Using tactics like phishing, cyber criminals may gain control of organisational email accounts (such as Office 365), which can lead to fraudulent activities.

• Data breaches: These breaches can result from human error, theft of IT equipment, or unauthorised access by hackers.

• Ransomware: This malware can encrypt your files, making them inaccessible until a ransom is paid. Other forms of ransomware attacks include denial of service and spear phishing attempts.

The financial and reputational costs of these attacks can be substantial, affecting customer trust and operational continuity. As cyber threats grow, businesses must recognise that online vulnerabilities are inherent to the internet and must be managed continuously.

How to Protect Your Business from Cyber Threats

Fortunately, there are effective ways to protect your business. With cyber threats evolving, it’s critical for every business to implement and regularly update IT security practices. Here are some steps to mitigate cyber threats and minimise business disruption:

1. Invest in robust antivirus software: Basic antivirus protection is an important first layer of defence.

2. Hire cyber security experts: Engaging professionals can help maintain and update your IT security systems.

3. Educate your team: Cyber security is a team effort, so ensure your employees are aware of threats like phishing and ransomware.