CyberCrime risks aren’t just for the Big Boys

This week I’ve been worried by the risks of cybercrime for even small businesses.

Two articles highlighted the danger of cybercrime & importance of customer data protection for SMEs.

These struck me as a stark reminder that these data security concerns are a topic of relevance to much smaller businesses than the large corporates usually covered by media stories of the latest data breach.

In the first article, research from security firm Avast uncovers the reality that more than half SMEs are spending less than 2% of their IT budget on data security. Even those who do ensure they have security software risk relying on cheap or free consumer protection software available (55%). Check out this article from Tech Week Europe for why this matters:

Looking for help to address this risk and ensure your customers’ data is safe? Given the number of high-profile public sector data losses, it might seem counterintuitive for the government to offer you a solution, but I was glad to hear of the £5,000 grant available to small businesses to help boost cyber security in future. Ed Vaizey’s announcement at Reform conference was very welcome news. Check out the details in his press release:

Finally, to bring it down to an even smaller & personal level, Data IQ highlighted this week the potential security flaws in smartwatches. A study by HP Security found ‘significant vulnerabilities’ in all 10 watches they tested. Have you considered that your customer data might be at risk through your smart watch?

It might seem cool & stylish to arrive wearing one of the more expensive Apple Watches to that client meeting, but do you understand the risks you are taking?

Hope that doesn’t give you sleepless nights over the weekend. But ensuring your business has adequate data protection & security is critical. It may not be the sexiest or most interesting topic for Customer Insight Leaders but keeping your customer data safe & using it appropriately is the price of admission to our work.

Have you experienced improvements in your protection or a breach you’d be willing to share?