Cyber security complacency is compromising SMEs1 min read

In a rapidly evolving landscape of cyber threats, many organisations are focusing efforts on protecting the confidentiality, availability and integrity of their networks and systems. While this is important, small to medium enterprises (SMEs) are typically falling to understand the wider risks and to implement basic cyber hygiene measures. This complacency compromises their own IT environment and that of suppliers and partners within their supply chain. In a recent article, Joe Collinwood, CEO at CySure, examined the implications of complacency in supply chain cyber security.

As he explained: “New research conducted by the Federation of Small Business (FSB) identified that 65% of UK Small Businesses do not have plans in place to deal with potential supply chain disruption including cybercrime. The threat is real and SMEs need to act or risk their business failing due to the lack of a robust cyber security strategy.

“A number of big brand organisations have recently been exposed by data breaches and although their names may have made the headlines, in some incidences the security breach occurred due to flaws in third-party partners. High profile data breaches such as the attack on communications firm TalkTalk, which was fined £100,000 in 2017 by the Information Security Office (ICO) for a third party’s misuse of data, have been a wake-up call for organisations, whatever their size.

“Like TalkTalk, many organisations often rely on a vast network of agile SME suppliers and partners. However, small companies can be easier targets for attackers if they don’t have robust security measures in place. With information and security arrangements shared across a supply chain, the cyber-security of any one organisation within the chain is potentially only as strong as that of the weakest member.”

The full article from London Loves Business is available via the link.