Business View Magazine | August 2020

6 BUSINESS VIEW MAGAZINE AUGUST 2020 In second position is the United Kingdom. The UK has seen 47 cyber attacks categorized as significant since May 2006 to June 2020. One of the 47 incidents was the large-scale cyber attack deployed across the Labour Party’s digital platforms during the 2019 general election. Falling prey to 23 significant cyber attacks, rising powerhouse India ranks in third place. Meanwhile, Germany is in fourth spot, having faced 21 substantial cyber attacks during May 2006 – June 2020. Australia is in sixth place with 16 momentous cyber attacks recorded. The most recent compromise was announced last month (June 2020) by Prime Minister Scott Morrison, who said Australia’s government agencies and essential businesses/services were being targeted by large-scale sophisticated cyber attacks. Interestingly, China, Iran and Saudi Arabia have each experienced the same number (15) of significant cyber attacks between May 2006 and June 2020. On the other end, North Korea has only been hit by five significant cyber attacks. Faring much better than neighboring South Korea, who have suffered from 18 major cyber attacks. Specops Software’s top three tips for achieving high cyber security standards: • Stay Up to Date - Keep anti-virus software up-to-date, apply the latest security patches and periodically change passwords (i.e. at least once a month) across your IT estate. • Assess IT Ecosystem - If you have the knowledge and capabilities to do so, and then carry out a regular diagnostic of your IT systems to identify any vulnerabilities that could be targeted and exposed. • Provide Guidance - If you own a business or are a key decision maker in a company, then take the initiative to create a formal document which firmly states the company’s policies on cyber security. Clearly establishing what individuals can and cannot do with the company’s IT systems/ networks/devices. Statistics from Cybersecurity Ventures estimate that cybercrime will cost the global economy a colossal $6 trillion per year by 2021