Companies must more than ever be on the lookout for cybercriminals, who are becoming smarter by the day. Some companies are testing their employees by sending them infected links to see how they will react. The risk posed by cybercrime is rising by the day with company boards now placing it high on their agendas. A number of attacks that occurred in the past make it the next most serious threat to business.
What is emerging is that companies are struggling to turn general awareness and concern into effective action in the face of pacy uptake of technology in transactions.
A report by the Institute of Chartered Accountants in England and Wales (ICAEW) has given updates on previous years’ insights and offers recommendations for companies’ boards – on why cybersecurity should be high on their to do lists.
It recommends cybersecurity training to staff – as criminals are now targeting workers to provide unauthorised access to data.
Accidental loss of confidential company information is as a result of workers’ actions such as clicking on infected links.
“Until businesses get better at linking cyberrisks with business objectives, and attaching real consequences to non-compliance with expected behaviours, cybersecurity training and campaigns are unlikely to have the desired impact,” ICAEW report said.