Business Cyber Risks and Safety Guide

Various digital threats can have serious consequences if not properly addressed.

Here, we'll explore why cyber security is of paramount importance to businesses.

Is your business cyber ready?

Worldwide cybercrime costs are estimated to hit $10.5 trillion annually by 2025, emphasizing the need for enhanced cybersecurity measures.
In 74% of breaches, human factors played a role, encompassing social engineering tactics, mistakes, or misuse.
43% of all cyber attacks are directed at small businesses

Businesses store a vast amount of sensitive and confidential information, including customer data, financial records, trade secrets, and proprietary intellectual property. Cyberattacks, such as data breaches or ransomware attacks, can expose this data to unauthorized individuals, leading to significant financial and reputational damage. Cybersecurity measures are crucial for safeguarding these critical assets.
Many industries are subject to strict data protection and privacy regulations, such as GDPR in Europe and HIPAA in healthcare. Non-compliance with these regulations can result in hefty fines and legal repercussions. Cybersecurity is essential to ensure that a business adheres to these laws, reducing legal risks and avoiding costly penalties.
Customers trust businesses with their personal information, and a data breach can erode that trust quickly. The aftermath of a data breach can lead to customer churn, damaging a company's reputation and bottom line. Implementing robust cybersecurity practices helps maintain customer trust and confidence in a business's ability to protect their data.
In today's digital landscape, businesses rely heavily on technology for their operations. Disruptions due to cyberattacks or data breaches can have severe consequences, including financial losses, downtime, and potential loss of business. Cybersecurity measures, such as disaster recovery and incident response plans, are essential for ensuring business continuity.
For many businesses, their intellectual property is among their most valuable assets. Whether it's proprietary software, unique product designs, or trade secrets, protecting intellectual property from cyber theft is vital to maintain a competitive edge in the market.
Cyberattacks can result in direct financial losses, including theft of funds, fraudulent transactions, and the costs of mitigating the attack. Additionally, the costs of reputation damage and legal consequences can be significant. Investing in cybersecurity is a proactive measure to prevent such financial losses.

One of the most common ways that hackers break into computers is by stealing or guessing passwords. Because users can’t remember passwords to so many systems, they find it easier to use a family member or pet’s name or something easy to remember like 12345678. As a result, their accounts are at risk of being hacked.
Business Email Compromise (BEC) is when the attacker impersonates a company executive or authorized party to convince them to send private/Non-Public Information (NPI) or wire funds to a fraudulent account.
Software vulnerabilities are exploited by attackers to compromise your systems. Keeping your device's software updated can ensure the latest security features are in place to protect your device and your business information from cybercriminals
Ransomware is a form of malicious software that encrypts all your files. A ransom is demanded to restore access to the data. But the decryption key doesn’t always work. The first half of 2023 saw ransomware extortion totaling $176 million more than in 2022.
An internal threat is anyone from the inside of a company who has access to sensitive information and could steal data and cause serious harm. These threats may be intentional or unintentional; regardless their action may cause a massive compromise to your system.
The Internet of Things, or IoT, is the connectivity of all devices that access your network including security, thermostats, smart assistants, printers, etc. IoT hacking is when hackers gain access to these devices in order to spy on you or to install malicious software to steal your personal information. Over 10.54 million IoT attacks were reported in December 2022
Companies are moving more of their technology functions and processes to cloud-based platforms and solutions. the benefit is the providers are responsible for the technology. However, if there is a cyber vulnerability in the cloud platform, it provides cybercriminals with access to the private information of many companies.

7 Cyber Threats

Cyber Risk Assesments

Personalized cyber risk assessments powered by our proprietary technology.

Education

Easy to understand cyber education resources and protection enhancement recommendations, as well as employee training modules.

24/7 Protection

24/7 global threat monitoring and automated alerts.

Personal Support

Experienced cyber advocates on call providing incident response.

Recovery Services

AI-Powered recovery services to mitigate financial and reputational damage.

One of the most common ways that hackers break into computers is by stealing or guessing passwords. Because users can’t remember passwords to so many systems, they find it easier to use a family member or pet’s name or something easy to remember like 12345678. As a result, their accounts are at risk of being hacked.
Business Email Compromise (BEC) is when the attacker impersonates a company executive or authorized party to convince them to send private/Non-Public Information (NPI) or wire funds to a fraudulent account.
Software vulnerabilities are exploited by attackers to compromise your systems. Keeping your device's software updated can ensure the latest security features are in place to protect your device and your business information from cybercriminals
Ransomware is a form of malicious software that encrypts all your files. A ransom is demanded to restore access to the data. But the decryption key doesn’t always work. The first half of 2023 saw ransomware extortion totaling $176 million more than in 2022.
An internal threat is anyone from the inside of a company who has access to sensitive information that could steal data and cause serious harm. These threats may be intentional or unintentional; regardless their action may cause a massive compromise to your system.
The Internet of Things, or IoT, is the connectivity of all devices that access your network including security, thermostats, smart assistants, printers, etc. IoT hacking is when hackers gain access to these devices in order to spy on you or to install malicious software to steal your personal information. Over 10.54 million IoT attacks were reported in December 2022
Companies are moving more of their technology functions and processes to cloud-based platforms and solutions. the benefit is the providers are responsible for the technology. However, if there is a cyber vulnerability in the cloud platform, it provides cybercriminals with access to the private information of many companies.

Your Business

Businesses store a vast amount of sensitive and confidential information, including customer data, financial records, trade secrets, and proprietary intellectual property. Cyberattacks, such as data breaches or ransomware attacks, can expose this data to unauthorized individuals, leading to significant financial and reputational damage. Cybersecurity measures are crucial for safeguarding these critical assets.
Did you know? In 2023, the United States experienced 3,205 data compromises, which includes leaks, data breaches, and exposure, affecting over 353 million people
Many industries are subject to strict data protection and privacy regulations, such as GDPR in Europe and HIPAA in healthcare. Non-compliance with these regulations can result in hefty fines and legal repercussions. Cybersecurity is essential to ensure that a business adheres to these laws, reducing legal risks and avoiding costly penalties.
Did you know? Cyber insurance premiums in the US surged 50% in 2022, reaching $7.2 billion in premiums collected from policies written by insurers
Customers trust businesses with their personal information, and a data breach can erode that trust quickly. The aftermath of a data breach can lead to customer churn, damaging a company's reputation and bottom line. Implementing robust cybersecurity practices helps maintain customer trust and confidence in a business's ability to protect their data.
Did you know? 35% of organizations embed security controls in all transformation initiatives from the beginning, while 18% deployed security after the event, indicating varying approaches to cybersecurity in digital transformation
In today's digital landscape, businesses rely heavily on technology for their operations. Disruptions due to cyberattacks or data breaches can have severe consequences, including financial losses, downtime, and potential loss of business. Cybersecurity measures, such as disaster recovery and incident response plans, are essential for ensuring business continuity.
Did you know? 45% of experts say cyber incidents are the most feared cause of business interruption, surpassing natural disasters or energy concerns
For many businesses, their intellectual property is among their most valuable assets. Whether it's proprietary software, unique product designs, or trade secrets, protecting intellectual property from cyber theft is vital to maintain a competitive edge in the market.
Did you know? Spending on information security and risk management products and services is expected to grow by 14.3% in 2024, reaching more than $215 billion
Cyberattacks can result in direct financial losses, including theft of funds, fraudulent transactions, and the costs of mitigating the attack. Additionally, the costs of reputation damage and legal consequences can be significant. Investing in cybersecurity is a proactive measure to prevent such financial losses.
Did you know? The average cost of a ransomware attack was $4.54M in 2023. and the average cost of recovering from a ransomware attack in 2023 was $1.82 million, excluding the ransom payment

7 Business Cyber Threats

One Brightly Cyber

Protect. Respond. Recover.

Business Cyber Services

Cyber Risk Assesments

Personalized cyber risk assessments powered by our proprietary technology.

Education

Easy to understand cyber education resources and protection enhancement recommendations. As well as employee training modules.

24/7 Protection

24/7 global threat monitoring and automated alerts.

Personal Support

Experienced cyber advocates on call providing incident response.

Recovery Services

AI-Powered recovery services to mitigate financial and reputational damage.

Why choose us?

20 Minutes -

To set up and install and to better improve your business.

35 Billion -

Global threats monitored for your business.

$4.6 Million

Is the average cost of a ransomware attack for businesses.

12 Months -

We can prevent incidents over 12 months before you even know there's something wrong.

Will your Business Survive a cyber attack?

We don’t replace your cyber protection assets, we extend and improve them. Incorporating experienced incident response is key to your business's survival

“60% of businesses will fail within a year of a cyberattack"

- Global Institutional Solutions 2023