Intelligent SME.tech Issue 35 | Page 41

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// FEATURE //

Cyber-risk in emails

CAN SPELL CATASTROPHE FOR SMES

Email remains one of the most widely used and invasive business systems , which is why SMEs need to carefully consider their email security . Their email systems are still targets for cybercriminals , regardless of the fact that they are smaller businesses . J2 Software CEO , John Mc Loughlin , explains how SMEs can take steps to protect their emails .
ANY SMALL- AND mediumsized business owners tend

M to dismiss the cyber-risk associated with their email systems , assuming that they lack anything of value for potential attackers to steal . They believe they are insignificant , not big enough and rely on the misconception that having their email in the cloud means their IT provider has everything under control . However , this false sense of security can be a grave mistake .

Email remains one of the most widely used and invasive business systems , particularly with the rapid adoption of cloud email services . These platforms grant access not only to emails but also to sensitive business information and intellectual property . that email security is fully managed by the cloud provider . However , less than 28 % of businesses have even basic security controls like multi-factor authentication ( MFA ) in place , and many fail to register their devices correctly , making it easier for attackers to compromise their environment .
It ’ s not like it ’ s a motor car , it ’ s more valuable than that
Nobody will want to target us , we have nothing to steal . We are not important enough . We are not big enough . All our email is in the cloud , so we are ok . These are some of the excuses we hear from SMEs when we speak to them about the cyber-risk associated with their email systems . Yet they all know how to protect physical company assets , like a motor vehicle .
Research reveals the alarming frequency of ransomware attacks , occurring every 11 seconds , with cybercrime losses surpassing a staggering US $ 6 trillion . Astonishingly , more than 60 % of global cyberattacks target smalland medium-sized businesses , and recovering from such attacks poses disproportionately larger costs for them than for larger enterprises . Email compromise alone accounts for anywhere from 85 % to 92 % of all cyberattacks .
Given these unsettling facts , the lack of action on cyber-risk mitigation can be attributed to a lack of understanding and a false belief
Email continues to be the most used and invasive of all business systems and the rapid adoption of cloud email services has driven this access away from only the mail itself , but these identities have access to all the information and IP of the business . Email has evolved to touch every piece of sensitive and confidential piece of information across the entire business estate .
Do you still think everything is ok ?
I believe the reason that so little is done comes down to a lack of understanding and

THIS FALSE SENSE OF SECURITY CAN BE A GRAVE MISTAKE .
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