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Cyber crime: can you hack it? Contact Us
IT systems and the internet are an integral part of running a business, but could you cope with the effects of a cyber crime or systems failure?
Healthcare is the most breached industry- with Personal Health Information (PHI) being more valuable on the black market than credit card credentials¹. According to the Information Commissioner’s Office (ICO) recent report, there were more data breaches across the health sector during 2019-20 than in any of the other public, private and charitable sectors it examined.²
Cyber crime increased 15 times over at the start of the pandemic with a huge increase in Coronavirus and NHS-themed scams according to recent press reports.
As practices and businesses continue to use online tools such as websites, social media accounts to payment systems and email newsletters, the risk of attack will continue.
Conducting any activity online is a risk, especially when relying on so many providers to ensure their service is operational at all times and security features are one step ahead of cyber criminals.
The healthcare sector is a particular target for cyber criminals. According to IBM’s 2020 Cyber Security Intelligence Index report, for the tenth consecutive year, the healthcare sector has continued to incur the highest average breach costs at $6.45 million.
Without a doubt, remote working during the pandemic has added to the risks and as the IMB report highlights, it makes responding to a potential data breach a much more difficult ordeal.
Beyond data breaches committed by hackers, health data is frequently exposed through accidental loss, device theft and employee negligence.
The 2020 Information Commissioner’s Office (ICO) report shows that 3,557 personal data breaches were reported across the health sector. Between April 2019 and March 2021 there were 866 instances in which personal data was emailed or physically posted to the wrong person. Other errors included losing paperwork or devices such as laptops.²
The 2019 Cyber Security Breaches Survey showed that around a third (32%) of businesses and two in ten charities (22%) reported having cyber security breaches or attacks in the last 12 months after breaches. 67% of UK healthcare organisations experienced some kind of cybersecurity incident during 2019 alone.
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To discuss cyber risks your practice may face, and how Cyber Liability and Data Insurance can help pro your business, please contact us for a confidential, no-obligation discussion.Contact Us