As I am sure we all remember from last year’s GDPR rush, there has been significant progress in cyber security legislation from the European Union. But what has happened since then to protect us and our businesses?
Keeping data and systems safe, accessible and fully backed-up.
Research has shown that the fear of fines through GDPR is making some firms more likely to pay cyber ransom than report the breach. This is a very scary thought and extremely counterproductive. Why is this happening and what could be done to prevent this?
Entrepreneurs trying to grow their businesses are juggling so many demands on their time that they may find themselves unwittingly leaving the back door open to cybercriminals.
The Utilities Sector, made up of electric, gas and water firms, and the energy sector alone accounts for approximately 5% of GDP. The organisations surveyed in the UK Cloud Snapshot Survey were predominantly energy companies. The survey aimed to determine what the current use of the cloud is within this industry and what individuals from this sector view as the greatest challenges to their IT plans over the next few years.
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In the past, cyber attackers have often been unaware of how much stolen data is worth to organisations. However, the implementation of GDPR means that organisations can be fined up to 4% of their global annual turnover or €20m, whichever is greater, if found to have a data breach. These fines effectively provide cyber criminals with a price point for criminals to understand how much the data is worth to organisations.
Cyber attacks are becoming more frequent in the business world today. In light of this, cyber security has become one of the leading concerns for UK businesses. Research conducted by Serviceteam IT in August 2017, revealed over a third of respondents had experienced an increase in cyber security incidents in the past 12 months.