I never cease to be amazed. No seriously, I thought I had become accustomed and quite seasoned to hearing about the litany of cyber-security and personal data breach disasters. In particular those that happen to the large multi-national organisations. Billions of £’s are lost to cyber-criminals and even more billions wasted recovering and repairing in-effective cyber-security systems.
There’s a lot being said in various quarters about the Internet of Things (IOT) but whenever it comes up in conversation with senior people in the SME world, even those businesses that are definitely in the Medium bracket, with 25m upwards turnover, it raises a titter or two
Risk management is all about helping us to create plans for the future in a deliberate and responsible way. This requires us to explore what could go wrong in an organisation, on a day to day basis.
What is security architecture? Well in short, it is the design of an architecture to protect your network and data systems against unwanted intrusion or interference in anyway.
The National Cyber Security Centre (NCSC), a department of GCHQ Cheltenham, estimates that if you are an SME then you have around a 1 in 2 chance of experiencing a cyber security breach. For the small business this could result in costs of around £1400, for the medium business, considerably more. One has just been hit for around £30000, which I am sure you will agree, can be extremely damaging to the bottom line of businesses operating under tight margins. And of course, it’s not just financial penalties but the reputational damage should your customers data and assets be affected as well.