Businesses are feeling more vulnerable to cyber crime now, compared with before the pandemic, according to research commissioned by the Institute of Directors.
In a poll of just under 800 directors, one in three indicated that their organisation is now more vulnerable to cyber crime, thanks to the sharp rise in home working.
The most common breaches during the pandemic were ransomware and phishing emails aimed at getting home workers to allow access to business systems, through to hacking.
A previous poll of IoD members showed that nearly three quarters will be maintaining increased home-working arrangements after coronavirus, with more than one in five reporting their usage of the workplace will be significantly lower.
This more permanent role for remote and digital operations raises the long-term vulnerability of business to cyber-attacks after the pandemic.
Minimising the risk of cyber crime will continue to be a front-of-mind priority for business leaders
“Many organisations have suffered cyber-attacks over the course of the pandemic, causing significant disruption, loss of revenue and in many cases data theft. The potential for reputational damage can result in long-lasting consequences,” said Joe Fitzsimons, Senior Policy Advisor.
“Increased home working has made navigating cyber security all the more challenging. The rise of home working will last long beyond the pandemic, with its various benefits for both employers and employees. Minimising the risk of cyber crime will continue to be a front of mind priority for business leaders.
“Directors will continue to need support in developing a better understanding of cyber crime and the steps that can be taken to secure their digital operations. Further support in the form of access to training and tailored guidance will be key as organisations seek to minimise their risk of cyber threat.”
The cost of cyber crime here
