A presentation on the current threats to businesses and individuals in the form of cyber-attacks and GDPR one year on from its enforcement.

1. C Y B E R S E C U R I T Y B R E A K F A S T
B R I E F I N G F O R S M E S

2. HOUSEKEEPING
@pkfFrancisClark
#CyberSecurity19

3. INTRODUCTION
 25 May 2018 – A sigh of relief…
 A changing landscape
 The cost to business

4. PROGRAMME
 8.20 - Current threats to SMEs – Grahame Mace, Devon & Cornwall Police
 8.40 – The GDPR landscape – Thomas Chartres-Moore, Stephens Scown
 9.00 – Examples of recent breaches – Peter Lannon, PKF Francis Clark
 9.20 - Questions
 10.00 - Close

5. EXAMPLES OF
RECENT BREACHES
Peter Lannon, Cyber Protection Adviser

6. CYBER SECURITY - THE FIGURES 2019
Of the businesses
that reported
breaches
48%
identified at least one
breach or attack per
month.
31%
of UK businesses
have done a cyber
risk assessment in
the last 12 months.
Just
33%
of UK
businesses have
a cyber security
policy.
98%
of UK businesses
rely on some form of
digital
communication or
service.
32%
of UK businesses
have identified
and reported
cyber security
breaches in the
last 12 months.
78%
of businesses
say that cyber
security is a high
priority for them.
Statistics taken from the Office of National Statistics Cyber Security Breaches Survey 2019

7. CASE 1
A client was defrauded of £5,000 by a cyber criminal.
What happened
By gaining access to the client’s email and duplicating a
legitimate email requesting that funds be paid to a
certain account. The money requested in the original
email was still owed.
Create strong passwords.
Use different passwords.
Keep them secret.
Restrict access to devices that are logged in.
How was it done
How to prevent it

8. WHO IS AT RISK OF THIS?

9. CASE 2
A large company had the personal details of over 145 million
individuals stolen costing the company approximately £336 million
so far.
What happened
How was it done
A vulnerability in an outdated piece of software was
targeted and exploited by hackers. This gave them
access to the company’s databases largely
unchallenged. The attackers remained undetected in
the system for over 2 months.
Efficient patch management.
Clear structure and responsibilities within the IT
department.
Regular audits and assessments.
How to prevent it

10. WHO IS AT RISK OF THIS?

11. THE VISIBLE COST AND THE UNSEEN COST
Time lost dealing with breaches or attacks.
Staff prevented from carrying out daily tasks.
Damage to reputation or loss of trust.
Small business - £4,180
Medium business - £9,270
Large business - £22,700
Visible costs in 2019
Unseen costs
Statistics taken from the Office of National Statistics Cyber Security Breaches Survey 2019

12. THE WIDER WORLD
Average losses to firms from breaches in the last 12 months
Netherlands - £294,000
Belgium - £376,000
Germany - £701,000
UK - £188,000
Reported attacks on SMEs have increased significantly.
Overall cyber-readiness has stalled.
Nearly 2/3rds of firms have experienced cyber related issues
with their supply chains.
Statistics taken from Hiscox Cyber Readiness Report 2019

13. PREVENTION IS BETTER THAN CURE

14. ANY QUESTIONS?

15. NEXT…
Q&A and/ or discussion
• With opportunity for Q&A with presenters (and discussion
amongst yourselves)
• Slides and feedback
Future breakfasts – 1st Tuesday of the month
• CIOSIF update
• Green Cornwall #2
• Property update and tax
• September – annual Food and Drink breakfast
Other dates for the diary
• Finance in Cornwall – 25th June 2019
• ROC5k – 25th June 2019, 6pm Lemon Quay Truro
And do not forget our blog, which contains details of new funds/
sources of SME funding that come to our attention, and our Finance in
Cornwall factsheet

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