The FactsAt present, businesses can only be fined up to €500K for losing data, but from May 2018 the EU General Data Protection Regulation (GDPR) comes into force, bringing with it fines of up to 4% of annual global turnover, or €20M (whichever is greater) for businesses that do not adequately protect customer data.
(And, before you ask, the Government has confirmed that the UK’s decision to leave the EU
will not affect the commencement of the GDPR.)
The statistics
- 60% of companies that have been a victim of cyber-attacks are out of business within six months.
- Just 14% of small businesses rate their ability to mitigate cyber risks, vulnerabilities and attacks as highly effective.
(2016 Ponemon Institute “Cost of a Data Breach”)
- In 2016, 66% of small firms surveyed were victims of cyber crime.
- SMEs fell victim to seven million cyber crimes over 2014 and 2015.
- The total annual cost of cyber crime to SMEs over 2014 and 2015 was £5.26 billion.
- On average, SMEs will fall victim to four cyber crimes every two-year cycle.
(Federation of Small Businesses (FSB): Cyber Resilience Report 2016)
Don't become one of the statistics! A few simple questions to ask yourself:
- What would you do if your business was attacked?
- What would you say to your customers and employees?
- Who would you call for help and advice?
- What is your public relations plan?
- Do you know what regulations you have to comply with?
- How would you get back up and running again – fast!
Contact our team now - 0345 557 8698 - for a free, no obligation quotation - it starts with 4 easy 'Yes' / 'No' questions and takes less than 5 minutes.
