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CYBER THREATS AND HOW TO AVOID THEM AGENDA 1. Development of the cyber world 2. Threats to small businesses 3. Cyber Recovery Insurance
CYBER THREATS AND HOW TO AVOID THEM
AGENDA1. Development of the cyber
world
2. Threats to small businesses
3. Cyber Recovery Insurance
Your presenters
Anne JacksonSales Director, Lorega
Sarah MortonSales and Marketing Manager, Lorega
Gary HibberdManaging Director, Agenci
Lorega LTD
Increasing global internet use
• 3.7 billion internet users globally
• Devices not limited to desktop and mobiles
• Huge increase in internet connected devices, including thermometers, refrigerators and smart watches.
http://wearesocial.com/uk/blog/2017/01/digital-in-2017-global-overview
Lorega LTD
What happens online in 60 seconds?
http://www.excelacom.com/resources/blog/2016-update-what-happens-in-one-internet-minute
https://iabuk.net/research/library/time-spent-online-july-december-2015Lorega LTD
But what else is happening?
https://www.helpnetsecurity.com/2016/04/08/dark-web-content/
https://darkwebnews.com/help-advice/access-dark-web/Lorega LTD
•Cyber crime and data breaches aren’t always about money
•Other motivations include hacktivism, teenage boredom and training for larger crimes
Motivations for cyber criminals
http://www.hackmageddon.com/2016/02/16/january-2016-cyber-attacks-statistics/Lorega LTD
THREATS TO SMEs
What’s out there?
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Rogue Employee
• Physical theft of
data
• Data could be
sold to
competitors
• Could be used
for extortion
Negligence
• Employee could send data to the wrong place or source
• Physical loss of hardware such as a mobile phone or laptop
• Victims of phishing emails
Outsider Threat
• Hacking
• Hacktivism
• Malware,
ransomware and
viruses
• Leads to theft of
data, unauthorised
access to systems or
total shutdown of
systems and websites
3rd party and vendor threat
• Cloud and other
storage or data
systems
• Network interruption
• Loss of data or theft of
data
• Backdoor intrusions
Types of threats to businesses
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Types of threat: Rogue Employees
• May steal data when leaving to join a competitor
• Could use data for own use
• Could lead to criminal convictions
Avoid the threat
• Ensure robust data security policies and procedures in place
• Only grant access to data or certain technologies if necessary
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Types of threat: Negligence
• PICNIC – Problem In the Chair, Not In the Computer
• Rise of BYOD
Avoid the threat
• Ensure proper disposal of sensitive data
• Password protect devices
• Have backups in place
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Types of threat: Outsider Threats
• This is what most people think about when they think of cyber security and cyber crime
Avoid the threat
• 10 steps to avoid cyber bugs and thugs
• Protect systems
• Invest in cyber security
• Have a cyber insurance policy in place
• Secure WIFI networksLorega LTD
• UK the most targeted nation for phishing attacks and ransomware in 2015
• 85% of organisations reported being the victim of a phishing attack in 2015
• 30% of phishing emails are opened• 9 out of 10 phishing emails carry ransomware
or malware
Avoid the threat• If it looks dodgy, impersonal, it probably is• Don’t click on attachments or links from
unknown senders• Don’t email personal or financial information• Never go to banking websites from emails• Turn on two factor authentication
Types of threat: Phishing emails
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Sophisticated Google Drive phishing
• Tom Scott received an email that looked like a google drive attachment
• The sending address was disguised as a friend’s email
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Look familiar?
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Types of threat: CEO Fraud
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Types of threat: CEO Fraud
• 1 in 3 companies have been victims of CEO fraud email
• Over 80% of security professionals believe executives in their organisation could fall for targeted phishing scams
• Often ask for bank details, but employee records have also been targeted
• Can happen on the phone
Avoid the threat• Would your CEO normally ask you to make
that payment or send those details? • Ring to check• Be vigilant and look out for spelling mistakes,
different ways of speaking or anything unusual• Always check bank statements
Lorega LTD
Types of threat: Ransomware• 54% of UK companies hit by ransomware attacks
last year• 37% of organisations affected have paid the
ransom• 32% of UK have lost files or data• 34% of companies globally have lost money• Average of 9 hours spent on remediation• Only 4% of businesses confident in dealing with
ransomware
Avoid the threat• Never pay the fine• Always backup data• Don’t download .exe or other program files from
unknown sources• Don’t allow macros in Excel documents downloaded
from the Internet• Always keep anti-virus software up to dateLorega LTD
What do they look like?
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Types of threat: DDOS
• Frequency of distributed denial-of-service (DDoS) attacks has increased more than 2.5 times over the last 3 years.
• The average size of DDoS attacks is increasing steadily and approaching 1 Gbps, enough to take most organizations completely offline.
• Globally the number of DDoS attacks grew 25 percent in 2015 and will increase 2.6-fold to 17 million by 2020.
Avoid the threat• Server scripts can alert you if a DDoS attack is
suspected• Overprovision site bandwidth to
accommodate more traffic• Have a plan to communicate with customers
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An introduction to Cyber Recovery Insurance
What can be done?
Lorega LTD
• Incidence of cyber attacks is rising
•Any loss of personal information can be complex and time-consuming to deal with
• Trading impact of loss of confidence in the business and brand
•New EU regulations could mean heavy fines for your customers - businesses are currently
exposed to fines up to £500K, but this could go up to $20m or 4% of annual turnover
• Cost of restoring IT systems
• Risk of third party claims
• Threat of business failure
Impact of a data breach on small businesses
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•Businesses have a responsibility to ensure appropriate and proportionate security of personal data held
• Sensitive personal data is of particular concern
•Data subjects must give consent for their data to be held
•Businesses must report to the ICO within 72 hours of becoming aware of the data breach
•New legislation comes into play on 25th May 2018 – businesses need to be ready now
GDPR
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• Cyber Recovery is an insurance policy which provides and pays for the cost of a Cyber Emergency Response Team (CERT) to deal with the crisis when a system has been breached
• Administered by Lorega, who have many years of experience helping customers when they need it most
• Payment of certain fines, penalties, awards, damages and the cost of credit monitoring
• Helps businesses recover from a covered data security breach
Cyber Recovery Insurance
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• Occurs where ‘Personal information’ is copied, transmitted, viewed or stolen by anyone unauthorised to do so
• This could include the loss or theft of a laptop, hacking or unauthorisedaccess to computer systems or data files
• Personal data which identifies an individual - even without a name associated with it
• Includes exposure to identity theft or aspects of a person’s life
What is a data security breach?
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Crisis Response
• Emergency l ine
available 24/7,
365 days a year
• Initial incident
notification and
full assessment
• Advice on
immediate
actions
Incident Management
• Advice to ensure compliance with Data Security Law
• Investigation and IT advice in respect of third party claims
• Legal and PR advice in respect of third party claims and protection of business reputation
Investigation & Restoration
• Investigation and IT
advice in respect of
Regulatory
Investigation
• Legal advice in respect
of Regulatory
Investigation
• Assisting with the
restoration of emails,
online and other
software systems
Awards, fines & monitoring
• In the event of a
Regulatory
investigation:
• Payment of Regulatory
costs and damages
• Payment of Regulatory
fines and penalties
• Payment of credit
monitoring costs
Limit£300
Limit£5000
Limit£25000
Limit£100,000
Lorega LTD
• Underwritten by Hiscox
• 24/7, 365 days a year claims helpline, with nationwide response
• Provides cover for first covered data breach
• Breaches must be notified within 12 hours of discovery within the period of insurance
Policy details
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• Excludes certain sectors – local and central government and government agencies, health service and housing associations
• Any subsequent data breach, a data breach discovered outside period of insurance, or occurring outside of UK
• Other exclusions, set out in Section 5 of the policy schedule, apply
Exclusions
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• Cover starts from £50 net, with banded rates based on turnover up to £5m
• Broker commission rates up to 30%
• Simple quote process via Lorega Online, our online quote and buy system
• Reporting of claims – within 12 hours of discovery
Selling Cyber Recovery
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• UK law places responsibility on businesses for the security of the data they hold
• Incidence of cyber attack is rising, with significant impact on SMEs, their brand, and possible heavy fines
• Cyber Recovery is designed to help SMEs manage the risk and cost of a data security breach
Summary
Lorega LTD
• A cyber consultancy service, to help SMEs survive a loss of personal information following a cyber attack, or to help them to test and prepare their systems to prevent a data breach.
• Support and assistance for other cyber policies
• IT and cyber security risk assessments• Plan of attack to provide insights into internal networks• Creation of information security policies and procedures• Virtual security officers• Vulnerability and pen testing
After the event
