One of my favourite concepts is ‘conspiracy vs. cockup’. This survey of businesses in APAC dispels the belief that it’s some mysterious elite hacker or nation state that is going to cause a cyber incident by targeting your business (‘conspiracy’). It’s much more likely to be a cockup by a supplier or employee…:
[…] While many SMEs feel better prepared than larger companies to manage cyber incidents, smaller companies have a relatively larger exposure, as they face the same risks as larger businesses but do not have the same means to implement comprehensive protection, leaving significant risk uncovered.
«The survey results are consistent across the three markets. Many SMEs believe they are too small to be targeted by cyber criminals or that any internal issues will not greatly impact them. In effect, they think they are ‹too small to fail›. However, our own claims data highlights numerous small business compromises and ransomware events that are decimating the cash flow of small businesses,» said Andrew Taylor, Cyber Underwriting Manager, Chubb Asia Pacific.
The Top Three Cyber Incidents in the Past 12 Months Were:
1. Business interruption from system malfunction or technical fault;
2. Data loss through a system malfunction or technical fault; and
3. Business interruption or data loss through human error, such as a lost or stolen memory device or employees unintentionally exposing their company data to risk.