Cyber Risk: Is it for Me?

October 8, 2019

We live in a very connected world today: IOT, e-wallets, cloud storage, big data, etc.Have you ever wondered, how exposed or potentially exposed we could be in today's day and age?

 

Gone were the days when hacking was done on-site, ala Terminator 2 days:-

 

 

 

You may or may not have heard of the following types of attack methods: malware, DDOS, social engineering, cyber extortion, credential compromise, web attacks, etc. The question is: how exposed are we, both as individuals or as companies or small businesses?

 

Here's some data for you:

 

55% digital netizens are in Asia 

25,080,000 Malaysians are netizens as of Jan 2018. Out of 32,482,119 population in Malaysia.

57% of us send wrong data to the wrong person

89% of cyber attacks are for financial espionage

75% of us use only 3 to 4 passwords for our online accounts

300,000 new malicious files are created daily

 

 Almost everyone we know is on a smart device be it a tablet or a smart phone (all ages).

 Some may say: hey, I'm just a small fry in the sea of potential targets, why would anyone want to target me? Well, with the availability of malware, and automated attacks, ANYONE can be a victim, and this would really suck if it happened to you:

 What are the potential risk areas? It may not necessarily come from "the Web" as if it were an unseen enemy. Cyber threats have been identified as any one of the below:

 As much as we have security set in place, we will always be prone to some sort of threat. Why not insure that risk, and let the insurers help you with:

 

1) Data breach notification costs

2) Public Relations costs

3) Cyber extortion costs

4) Cyber business interruption 

5) Information and communication asset rectification costs 

 

and more.

 

Come by our booth at an upcoming event hosted by Portman College happening this weekend at the Mines called the Entreprenuer Convention 2019. Come say hi and find out more! If you can't make it for this wonderful event, just drop us a line, and one of our friendly financial advisers will be in touch to share with you more about this new scope of cover you should consider. Til next time!

 

 

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