Cyber crime is not the most costly of illegal activities. That dubious distinction goes to government corruption, followed by drug trafficking. Cyber crime comes in third. Yet cyber crime does take the top spot when it comes to numbers of victims.
Cyber crime has hundreds of millions of victims. Two-thirds of people online have experienced personal information theft or compromise. A 2018 McAfee Security study suggested that represents more than 2 billion individuals!
If any of those people works at your business, it could mean trouble for your security, too. Why? People tend to think they have too many passwords to remember. So, they use the same login information again and again. That means a criminal could leverage employee data to access business systems, too.
Cyber crime is a global problem for both individuals and businesses. The bad actors, after all, can make big bucks from their crime with low risk of discovery. The global cost of cyber crime is an estimated £473 billion a year. And no one and no business is immune.
More people are going online. Businesses are becoming more reliant on digital transactions. Cyber criminals are quickly adapting. They’re motivated, but are you?
Securing Your Business with an MSP
It’s safe to say your Information Technology team has a lot to do. Everyone at your office is working hard, but is cyber security getting the attention it deserves? Ultimately, there is no better way to keep your systems secure than with managed services.
A managed services provider (MSP) helps your business stay ahead of security threats. Finding out about risks or vulnerabilities after the fact is no good. That’s like closing the barn door after the prize stallion has already bolted.
An in-house cyber security team providing 24/7 protection isn’t workable for most businesses. It’s cost prohibitive for most small and mid-sized businesses.
Working with an MSP is a more affordable alternative. You avoid investing in the latest technology and building up an on-premises infrastructure. Instead, you pay a consistent fee for the MSP to handle technology patching, monitoring, and assessments.
The MSP uses well-tested, leading-edge tech to stay on top of cyber security threats. This strategic partner can:
- set up security on your infrastructure;
- oversee your company’s security systems;
- ensure regulatory compliance;
- track threats 24/7;
- maintain strong data protection.
An internal IT team oversees many areas, but the MSP focuses on continuous monitoring. It keeps up to date on the global threat landscape and any industry vulnerabilities.
Still not convinced that paying an MSP is worth it? The average cost of a lost or stolen record was £116 per record in 2018. You might view working with an MSP as paying for insurance. With ongoing monitoring an MSP helps your business avoid security breaches. And their devastating costs (including to productivity, compliance, revenues, and brand reputation).
This extension of your security staff helps maximise resource efficiency. And their day-to-day focus is on reducing risk and minimising damage from cyber threats. With an MSP you add dedicated security experts to your team. Secure your technology while gaining advanced threat intelligence and customised security strategies.