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Cyber Breaches – A real threat for all businesses

Hear our response to the most recent Ransomware attack from Bob Grantham, Business Development Manager with vCloud.ie

 

The fallout from the Ransomware attacks which hit over 100 countries last week has firmly brought the issue of cyber security and data integrity into the spotlight.

Ransomware is not a new viral phenomenon, it first started rearing its head in the early 2000’s targeting the everyday home PC user.

It was not an intelligent piece of software at that point, but with human intervention it evolved and became more sophisticated in its abilities.

While this particular attack mainly threatened government agencies and organisations, it created a real concern for businesses of all sizes.

It is a clear example of how viral attacks are continuously morphing and becoming more sophisticated. The ransomware attack is only the tip of the iceberg and a taste of what is to come.

This could possibly be the only opportunity for companies to re-consider their own IT security functions and practices.

Cyber Attacks in Ireland

Most recent survey figures indicate that 81 per cent of Irish businesses have experienced a cyber breach. From payment card fraud, to identity theft, the serious threat facing businesses is very real.

In January 2017, it was revealed that cyber-attacks which impacted just 20 Irish companies cost the state €22 million throughout 2016.

From international blue chip companies to indigenous Irish SME’s who depend on external connectivity to the online world from email to e-commerce, it is time to start ensuring the correct security systems are in place to protect and save operational online functions in the event of a cyber-incident.

Currently, Irish businesses are not required to report any cyber-attacks or data breaches. However, new legislation which will be introduced in June 2018 will require all businesses to report cyber-attacks. Businesses found in breach of this legislation will face significant penalties and fines.

Introducing vCloud’s Time Machine

Richard Meehan, CEO of vCloud.ie, Ireland’s only dedicated company providing business continuity solutions, says “The impact of a cyber breach for companies can be detrimental. These breaches hurt not only financially but can also lay reputations on the line.  Companies need to start taking the threat of cyber breaches very seriously.

With a 100 % up-time record for their clients since 2008, vCloud.ie offer a suite of business continuity solutions and work with a range of clients. Some of their largest clients turn over in excess of €1 billion annually.

We recently introduced a new product which will transform how businesses react to cyber breaches. In development since 2012, ‘Time Machine’ protects businesses against any data loss or down time.

With billions lost globally every year to cyber-attacks and the repairing of systems, ‘Time Machine’ will counteract all actions taken in the lead up to the system compromise. In just five clicks and three minutes, it will restore systems back to its original pre-attack settings.

For businesses that need zero data loss and downtime or to use technical terms an RPO and RTO of zero seconds, they need to start seriously reviewing and updating their online business continuity systems. Implementation can happen within a very short time frame and with minimum disruption.

Compared to the devastating impact an online security breach can cause, implementing and working with a company like vCloud.ie can future proof businesses.” Says Mr. Meehan.

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