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Cyber – extortion and ransomware

Cyber claims statistics reveal that extortion and ransomware are one of the fastest growing sources of cyber loss.

The importance, and urgency, of cyber security measures have become increasingly visible in recent years. Industry reports from the likes of VerizonTrustwave, and PwC all express the importance of cyber security measures and the costly consequences of cyber attacks.

No company wants to become another data breach statistic but some decision-makers still may not understand the urgency of cyber security protection. This is largely down to the fact that on the whole, UK businesses have a lower level of security maturity than their US counterparts.

Acknowledging that cyber security is a major problem is one thing, but understanding what you can do in response is another. Few organizations feel prepared for a sophisticated cyber attack and if you are not one of those – or you are not sure if you are prepared – one thing you can do is to start monitoring your performance and create a benchmark to track changes in your security posture and create a performance metric around cyber risk that is specific to your organization will help you protect yourself from being just another number.

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