Cyber Breaches and Impact to Business

Too smart to fall for cybercrimes? Maybe you need to reconsider.

Let us start with some statistics:
 

  • The Financial Times report that more than 25% of UK cyberattacks relate to Covid-19
  • Online users are now three times more likely to click on a phishing link than they were pre-Covid
  • Between February and March 2020, malicious registrations reported to INTERPOL, including malware and phishing, grew by 569%
  • The FBI reports a 400% increase in cyberattack complaints following the surge of the pandemic
     

And there is more…

Ready to reconsider now?

Cyber Security has become an increasingly central area of focus for business over the last decade. However, never before has the threat of data breaches and IP theft been more relevant; the coronavirus has decentralised business operations as a result of the rapid acceleration of remote working, leaving today’s firms more exposed than ever. Companies have transformed and advanced their operating models to cope with this unprecedented threat to employees and consumers and is unlikely we’ll ever see a total return to the pre-Covid ‘business as usual’.

The acceleration of remote working has generated a number of benefits for employers and employees: greater flexibility, better work-life balance, higher productivity. In turn, however, this comes hand-in-hand with new risks, namely: increased exposure to cyber-attacks and more detrimental impacts to operational resilience and business continuity when those materialise.

Cybercriminals have been quick to take advantage of this ‘new normal’. Virus-related phishing links, video and teleconference hijacking and data breaches are only some examples of how cybercriminals have exploited business. Business-Email-Compromise (BEC) campaigns are being used to target prominent finance, healthcare and pharmaceutical companies by containing malware to harvest sensitive data or harmful ransomware that disrupt access to information systems. They come up with subject lines that make emails seem legitimate (for example, “A brief note on Coronavirus and the Finance Industry”) and once the links are opened, it is too late to protect the integrity of a company’s confidential information. Since fraudsters can target any one member of a company’s workforce, the likelihood of falling victim to such attacks cannot be overstated.

At TORI, we fully comprehend and are equipped to address the changing business landscape to help you transition to a safe, digital future. Our Cyber team possess a deep understanding of the major risks and challenges facing organisations today and have delivered a range of Cyber Security services for leading insurance firms and Tier 1 banks. We have also helped to deliver national cybersecurity and anti-fraud awareness by working with major government agencies.

So how can TORI help?

  • To ensure that your cyber security ecosystem is sufficient, TORI provide an independent assessment of your security maturity and compliance; with standards to help identify possible gaps in your defences​
  • Software security is a cornerstone of effective cyber security. We provide training, manual source code reviews and pen testing to help protect your business applications and infrastructure
  • With the huge proliferation of Cloud services and the security challenges which underpin cloud adoption, we can provide help with shaping your Cloud Security strategy and the implementation of security products

Nicholas Christou (Junior Consultant) & Robert Gardner (Consultant)

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