Why you should consider cyber security awareness

Cyber security awareness training seems like a wordy, woolly term. However, despite all the cyber security software out there, no solution can prevent one particular cyber threat. People.

Specifically accidental cyber breaches caused by your employees.

While businesses allocate more time and money to tackling cybercrime, staff-related breaches soar! A whopping 90% of data breaches involve human error. That’s why we think security awareness training for your team is vital. So, read on for our eight reasons why you should be training your staff in Cyber Security Awareness.

1. Employees – you are the weakest link

It just takes one staff member to click on a phishing link for a company’s data to be compromised. It’s no surprise that the companies falling victim to a data breach are those with little security awareness training in place. 

Cyber criminals use a wide variety of tactics to breach company systems, including:

  • Phishing
  • Ransomware
  • Social Engineering
  • Malware

2. Government regulations require security awareness training

Nowadays, most businesses should have cyber security awareness training to protect customer and employee data from cyber attacks. 

Every company that operates in the UK or European Union has to comply with the General Data Protection Regulation. This regulation requires companies to protect their customers’ and clients’ personal information. Any breaches can result in fines of up to €20 million or 4% of the company’s turnover.

3. Cyber security threats continue to grow

Every industry and sector is at risk of cyber-attacks. There is no end to targets for cyber criminals in the connected, digital world, and attacks are on the rise. Cybercrime is a lucrative business for criminals, and attacks will grow in number and sophistication.

Recent data breaches at major companies such as Facebook, Quora and Google highlight the increased frequency of sophisticated cyber-attacks.

Companies should educate their staff to understand the risks, spot an attack, and prevent attacks from fighting these sophisticated attacks. 

Get a robust cyber security posture with a security awareness training platform. 

“Cyber breaches increased by 67% in the last five years” – Accenture.

4. Lack of awareness

A lack of awareness is down to the company, not the employees. Employees that haven’t been trained can’t be expected to know the risks and protect your company. 

Although most companies know employees’ vital role in protecting company data, they haven’t implemented an efficient training plan. The problem with relying on technology is that often, it’s not the systems that are the target – but the employees.

Only 15% of end-users say they are confident they can protect themselves from harmful activity online” – NCSC.

5. Research shows the value

According to a report by the UK government, 48% of businesses identify at least one breach or attack a month. But, only 33% of companies have a cyber security policy in place. These stats demonstrate just how unprepared most businesses are for breaches.

Accenture reports that the total cost of cyber-crime over the next five years will be $5.2 trillion. That’s an insane number – and one that will only continue to grow unless businesses make the proper investment into cyber security. Security awareness training is essential for saving you the money you could waste on fixing a data breach. 

6. No target is too small for a cyber criminal

Small companies are a more, not less, attractive target to cyber criminals. Why? Small companies often believe that they are not targets, and cyber criminals know this. Small companies are far less likely to have the right policies, software, and training to protect them. But they still possess valuable information to cyber criminals.

A successful data breach can seriously harm any business. Still, small businesses are less likely to have the resources, money, and experience to shut down and recover from an attack. Data breaches often cause more damage than a small business can handle and bring the company to a premature end.

“£4180 is the average annual cost to businesses from breaches” – UK Government.

7. Data is a matter of trust for consumers

Consumers all over the world are increasingly worried about their online privacy. According to research by Deloitte, 73% of customers would stop using a company’s services or products after a data breach. Even if you manage the cost of a cyber-attack, the cost to your reputation might be too much.

8. Competitors are increasingly willing to invest in cyber training

Many companies are starting to realise the urgent need for security awareness training – and are ready to invest. Thanks to all the recent headlines and stories about compromised businesses, cyber security is no longer ignored by executives and boardrooms.

Don’t be left behind!

Let’s build your security savvy workforce and cut your business’ cyber security threat.

Give us a call on 0333 240 1824, email us at hello@soconnect.co.uk, or fill out a form on our website!

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