No business is entirely immune to cyber attacks in this era of digitalization. At least 30,000 websites are hacked daily worldwide, with over half of cyber crimes committed against small to midsize businesses. While 51% of SMEs do not have cyber security measures in place, thinking they are "too small" to get hacked, the average ransom paid by mid-sized organisations in 2021 was $170,404.

1. Cyber Security compliance: a necessity for your business

2. • No business is entirely immune to cyber attacks in this era of
digitalization. At least 30,000 websites are hacked daily worldwide,
with over half of cyber crimes committed against small to midsize
businesses. While 51% of SMEs do not have cyber security measures
in place, thinking they are "too small" to get hacked, the average
ransom paid by mid-sized organisations in 2021 was $170,404.

3. • The COVID-19 pandemic-related remote work witnessed a 75% spike
in daily cyber crime. The pandemic affected 35% of ransomware
attacks, 51% of phishing emails, and 55% of data exfiltration

4. Cybersecurity Compliance Benefits for Your Business.
• To apply a systematic risk governance strategy and rule out any vulnerabilities
that could harm the business, consumers, and stakeholders, cyber security
compliance entails aligning an organisational risk management framework with
predefined security measures in the business analysis.

5. Advantages
• Increases the capacity for data management
• To protect customer privacy, businesses today should
prepare to store sensitive data on secure digital platforms. Only
authorised administrators should have access to data stored on the
organisation's existing software infrastructure or in cloud-based
solutions.

6. Promotes operational efficiency.
• By removing noise and concentrating on the essential, organisations utilising security
technologies can manage surplus data, reveal privacy flaws, uncover wasted resources, apply new
resources to increase operational efficiency, and reduce wasteful data usage

7. Enables best practises in the industry
• The IT team, compliance officials, and supervisors in your company
can identify risks, reduce process errors, prevent misunderstandings,
and make pertinent decisions with a streamlined and efficient
workflow by adopting security practice guidelines in the business
world.

8. Avoids charges and penalties.
• Businesses risk significant financial penalties for failing to adhere to
adequate security laws. Almost all regulatory authorities charge costly
compensation for organisations that do not strategize strict corporate
governance and consumer protection policies.

9. Develops consumer trust and brand reputation.
• The cost of the threat posed by cyber attacks and data breaches is not
limited to business interruption and financial loss.