Welsh cyber-security specialists Capital Network Solutions have reacted to new research which has shown that 52 percent of small businesses in the UK are not taking any preventative measures to protect themselves against cyber-crime.
Additional findings from the research showed that 85 percent of small businesses are not planning to increase security budgets while fewer than 13 percent are working with third party experts to build cyber-defenses.
Mark Edwards, Managing Director at Capital Network Solutions, said: “These latest figures show that many small businesses are leaving themselves unprepared for cyber-security breaches. Cyber-crime poses a large threat to Welsh business of all sizes and costs our economy roughly £800 million every year.
“Even for businesses with limited financial resources and specialist skills, there are number of simple steps that businesses can take to improve their cyber-security.
“Firstly, businesses need to ensure they have cyber-security policies in place that all their employees understand. These policies can include managing user privileges to restrict what employees are able to download, what content and information should be shared online through social media, how often company passwords should be updated, and should external devices such as USB pens be used.
“Having clear policies will reduce the possibility of any accidental information leaks and the risk of malware being downloaded onto the network server by employees.
“The second step businesses should take is to ensure the work network is properly configured. Boundary firewalls and internet gateways need to be in place and systems should be installed properly. Access to the network should be strictly controlled and stated through the cyber-security policy.
“It’s also critical to ensure that systems are updated with the latest software to protect against new security threats and that virus as well as advanced malware protection is in place.
“Lastly, if cloud services are used such as social media, email hosting, financial information hosting or document hosting such as Google Docs, businesses should access these only on safe networks. Often cloud services are used by businesses without thought as to the safety of the information they are storing.
“Sensitive company documents, password databases, and delicate client information should be stored in encrypted files on an internal server database, not cloud services. This will greatly reduce the impact of any security breaches with those client services, which are often big targets for online hackers.”
The research was conducted by CSID, a leading provider of global identity protection and fraud detection technologies for businesses.
With cyber-crime and malware threats continuing to target businesses of all sizes throughout the UK, by implementing simple procedures, Welsh businesses can put far more secure cyber-protection measures in place.
If businesses don’t have the expertise in-house, specialists such as Capital Network Solutions allow businesses of all sizes to implement cost-effective solutions to protect themselves against the threat of cyber-crime.