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23 Aug 2022

Government research has revealed that UK businesses only begin to appreciate the importance of cyber security once the business has sustained a “serious” attack.

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The majority of victims of cyber crime are Small to Medium Enterprises. Ransomware attacks, fund transfer fraud, phishing, vishing and social engineering are all made far easier with employees...

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As an employer, you are obligated to update your payroll so your employees get paid at least what they are legally entitled to. 

6 Apr 2022

Businesses are required to have signed up to Making Tax Digital ready for their first VAT return starting on or after 1 April 2022. However, they may not be required to make their first...

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Originally due to end on 31 December 2021, it has since been announced (4th October 2021) that the scheme has been extended until March 2022.

23 Sep 2021

HM Treasury has published a progress update on its Plan for Jobs as well as a record £650 billion infrastructure investment

Cyber security only prioritised by businesses after a data breach, DCMS reports

Posted on in Business News , Cycles News

Government research has revealed that UK businesses only begin to appreciate the importance of cyber security once the business has sustained a “serious” attack.

The observations have been included in a paper published by the Department for Culture, Media, and Sport (DCMS), which has been investigating cyber-attacks on UK businesses.

Half of the participants involved in the interviewing process conducted by the DCMS said senior leaders recognised that cyber security threats were real only after the business had been attacked.

Common observations among businesses were that senior leaders were not as engaged with security as a priority, and some didn’t fully understand the scale of the threats or the cultural transition required to meet the growing challenge.

Senior management and board members became markedly more engaged with cyber security because of their respective breaches and have since “demonstrated more serious intent” to improve the organisation’s cyber posture, though.

The improvements were observed across all different types of businesses that spoke to the DCMS as part of its research.

Every business that has a dependency on computer systems to transfer or store data is exposed to cyber risks, in today’s world this is much of every business.

A comprehensive cyber insurance protects your business from the effects of social engineering, ransomware attacks, cyber extortion, data breaches, fines & penalties, business interruption, first party & third-party liability.

ActSmart have worked with insurance specialists Butterworth Spengler for over 30 years to provide the ideal insurance solution. Cyber insurance provides comprehensive cover for data restoration, reinstatement or even re-creation if it is lost or corrupted.

To get a FREE cyber insurance quote use the form below or phone Butterworth Spengler on 0151 494 4400.

Read more on the Cyber Insurance service page.

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