With cyber attacks continuing to substantially affect businesses, we look ahead at its potential impact for 2018, both in terms of protection and prevention.

2017 now known as the year of ‘Cyber Geddon’ was notably a year when cyber attacks grew considerably and media coverage on cyber security across many global companies was regularly highlighted.

Businesses will need to improve their levels of cyber security protection against cyber crime for 2018, by following a stricter approach and so that they comply effectively. Cyber attack issues will not go away, they will only grow not addressed. As more and more businesses develop online methods of communication and use social media as an intrinsic part of their daily online activity, so too does the need for greater cyber protection.

2018 is set to become a milestone year in the field of combating against cyber security, we take a look at some of the aspects that will play a crucial part in this.

GDPR Legislation – due to come into force in May 2018, businesses will have to comply with the new EU legislation or alternatively could face fines amounting from thousands to millions of pounds. The legislation aims to protect EU nationals with how their information is generated and shared across companies.  Post Brexit, it is likely that the UK will continue to adopt EU General Data Protection Regulation.

US Security – This year, the U.S Department of Homeland Security will finally appoint its own Cyber Security Leader for its National Protection and Programmes Directorate.

Social Media Responsibility – Global pressure on social media companies to increase their level of responsibility as to how they manage and publish content is mounting. They will need to begin addressing their actions especially as here, the UK government is currently looking at taxing those companies who don’t oblige.

Further Improvements in Security – As more companies take on the responsibility of addressing the security of their systems through education and training, the impact will only be positive. By tightening the simplest of processes and training staff so that they are aware of the implications brought by a cyber attack, will provide a thorough approach in terms of cyber security.

UK’s first Cyber Discover Programme – More than 20,000 students have signed up in just six weeks, to take part in the initial stage of the UK’s Cyber Discover Programme. Backed by Theresa May, the programme aims to encourage more women to play a fundamental part in how the UK approaches cyber security in the future.

For more information on Cyber Security and to find out how we could help your business to combat against a cyber data breach with cyber attack insurance, please contact us today. Here at Crendon insurance we offer the right tools to ensure that your business, new or established, keeps on the right track in terms of cyber security policy.

 

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