Disaster has struck – your business has been hacked! With an estimated 39% of UK businesses experiencing a cyber-attack in 2022, this is a real threat facing businesses of all sizes.
Your first response? Most likely to panic (which is understandable!), however, how you respond to a breach can have a substantial impact on the extent of the damage done by hackers.
For many businesses, especially small and medium-sized companies, a single cyber-attack can have a catastrophic impact.
Not only could your business experience significant financial loss, but it may also encounter substantial business loss, including damage to reputation. Insufficient cyber security defences leave your money, technology, and information at risk.
It is important to identify and isolate the compromised area of your IT network and contain the threat. This stage may require critical decisions such as taking a core business system offline. It is important to consider the consequences of any such actions, both good and bad.
At this point, all admin passwords should be changed, and a firewall should be set up to prevent further damage.
When it comes to responding to a cyber-attack, know your limitations.
It is vital your business have cyber insurance that includes the addition that your insurer will run your cyber response to an online incident. This may include them helicoptering in advisors to help mitigate the threat.
In addition, whether you outsource your IT or not, professional support from a cyber security specialist will not only help you to navigate a cyber-attack but also offer guidance on how to resolve it too.
Ensure the cyber threat has been completely resolved before you start to restore your systems. If you back up your files and systems regularly, you should be able to recover most of your data following a cyber-attack. Depending on the level of attack you would need to ensure the restored systems are also clean from any malware prior to allowing your users back onto the system.
If you don’t have a backup system in place for your business, investing in one should be a priority. A cloud backup solution can quickly retrieve your lost files and restore your damaged systems with ease, while being air-gapped from the infected servers.
Like a bad dream, a cyber-attack on your business is something you would probably like to forget as soon as possible after it happens. However, avoiding the problem will only make things worse.
A security breach is a difficult situation for business owners to navigate, but it is essential that you notify all employees, suppliers and customers that stand to be affected. Being transparent and solutions-focused in your communications will hopefully minimise potential pushback from staff or third parties. If your business is cyber insured, your insurance provider will be able to provide further advice on how to tackle this situation.
You are also legally obliged to notify any relevant regulatory authorities, such as the ICO.
Once the threat has been eliminated, it is important to investigate the cause of the breach and introduce procedures to prevent it from happening again.
As mentioned, even with a robust cyber security strategy in place, cyber-attacks can happen, which is why cyber insurance should be a must for your business.
Cyber insurance coverage can protect your business from the financial and legal consequences of IT security incidents.
However, it is important to note every cyber insurance policy has its own checklist of security requirements that you must comply with. If you fail to comply, you won’t be able to make a claim, leaving you without financial and legal protection when you need it most.
Luckily, we offer cyber insurance compliance services to help your business stay in your insurance provider’s good books. We can work with you and your insurer to ensure your coverage is sufficient.
Cybercriminals have an arsenal of tools to infiltrate your virtual defences, but a strong cyber security strategy can drastically reduce the likelihood of a successful attack. When it comes to cyber security, it is better to take a preventative approach rather than a reactive one.
We provide hassle-free cyber security services to ensure your business is best equipped to handle cyber threats online. Every company is different, which is why we offer a range of tailored IT services based on the needs of your business.
For expert advice and guidance on how your business should deal with a cyber-attack, get in touch with us today. Our team of IT specialists have extensive experience in protecting businesses like yours from online threats.
Talk through your IT needs with one of our friendly technicians – no commitment, no cost!
Complete our contact form and one of our experts will be in touch, or call our team on 01332 374444.
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