While the financial fallout of a cyberattack can be severe, the hidden costs often prove even more damaging. Operational disruptions can bring customer services, supply chains, and entire business units to a halt. Regulatory and legal consequences can involve investigations, hefty fines, and compliance failures. Perhaps most critically, a breach can inflict deep reputational damage, eroding trust among customers, partners, and investors, and forcing companies to invest heavily in rebuilding confidence.
The Cyber Threats You Need to Watch
Businesses today face an evolving mix of cyber threats. Ransomware attacks continue to dominate headlines, locking companies out of their systems and demanding payment for release. Phishing emails are targeting employees with increasing sophistication, while supply chain breaches are using third-party vendors as a gateway into larger organisations. Credential theft is another growing risk, with attackers using stolen passwords from one breach to gain access across multiple platforms.
What makes these threats especially dangerous is that many attackers are patient and strategic, infiltrating systems quietly and waiting weeks or months before striking. Early detection, prevention, and continuous monitoring are critical to staying ahead.
What Commercial Businesses Should Be Doing Now
There is no silver bullet, but commercial organisations can take meaningful steps to strengthen their cybersecurity posture. That starts with understanding their data, knowing what’s collected, where it’s stored, and who has access to it. Strong access controls, such as multi-factor authentication and robust password policies, are essential.
People also play a crucial role. Regular employee training on how to recognise suspicious activity can be the first line of defence against phishing and social engineering attacks. Companies should also assess third-party risk by reviewing the security practices of their suppliers and partners. And importantly, they need a clear incident response plan so they can act quickly and decisively if something goes wrong.
To build resilience, companies should focus on:
- Understanding their data, what’s collected, where it’s stored, and who can access it
- Strengthening access controls, using multi-factor authentication and robust password policies
- Training staff regularly, ensuring everyone knows how to spot suspicious activity
- Assessing third-party risk, vetting supplier security and contract requirements
- Preparing an incident response plan, knowing how to respond if a breach occurs
- Investing in modern tools, using threat detection, endpoint protection, and automated updates