Picture the scene: it’s a regular morning in your practice - but when the front desk team switches their computers on, a hostile message appears on screen, informing them of a ransomware attack on your system. You now have no access to any of the software that you not only rely on for day-to-day operations, but that also contains sensitive data, including financial information. Panic turns to distress – could this have been prevented? What are the next steps? Will there be any long-term impact?
Or imagine another scenario: you’re checking your banking app and see a flurry of transactions you don’t recognise. You get a sinking feeling and know a speedy response is necessary for damage limitation. You’re also trying to think how this could have happened and are worrying if any of your personal details are in the wrong hands.
A cyber-attack can be devastating and, in this digitised world we live in, everyone is at risk. Large scale corporate data breaches may make the headlines, but even small businesses get targeted as well as individuals.
Digital technology has become integrated into almost every aspect of our lives. The term ‘App Economy’ refers to how there’s a mobile application for pretty much everything. Alongside smartphones we also own smartwatches, smart thermostats and even smart doorbells. Over 50 per cent of internet households in the UK own a ‘voice control assistant’ that we interact with by asking it to perform tasks, from waking us up to turning the lights on and off. These devices become more intuitive over time, using artificial intelligence to make suggestions based on the commands we give it (“here’s a radio station I think you might like!”).
Online banking has grown steadily in the UK, and many of us would admit that we manage our day-to-day financial affairs almost entirely from our phones, checking our balance, paying bills and transferring money in a few taps. On one hand, this gives us the level of convenience and flexibility that we have come to expect. But is the counterpoint that, because these technologies are now so ubiquitous, we’ve become too complacent, too accepting of the risks?
With digitisation accelerating at a rapid pace, cyber-attacks are going to become more frequent so the need for risk awareness, protection and mitigation is greater than ever. So why do so many people underestimate the likelihood of a cyber event? If you broadly practise online vigilance and consider yourself tech-savvy, there could certainly be an element of “that could never happen to me”. Yet scams and scammers are becoming so sophisticated that more and more of us are being caught out.
It is only when it does happen to us that we understand the deep psychological impact of cybercrime, particularly when it affects our personal digital security and – in the worst-case scenario – leads to identify theft. As well lasting emotional consequences, there will be practical implications – cancelling cards, contacting payees etc. – that can be stressful and time consuming to sort out. If your dental practice experiences a cyber attack, you may have worries about losing revenue, as well as your reputation, if patient data has been compromised, for example. With criminals willing to pay for this kind of information, this could ultimately lead to patients taking legal action against you.
Digital self-care
There are plenty of things we can do to protect ourselves, such as changing passwords frequently, keeping security software up-to-date and never opening an unsolicited email or text. Recommendations for businesses include reviewing data back-ups and having a robust, tested business continuing plan (BCP) in the event of a cyber-attack.
Consider cyber insurance, too, for peace of mind that you’ll have someone to give practical help and essential emotional support. Alongside their wide range of high-quality and tailored insurance options for business and individuals, leading insurance and indemnity provider Howden has a number of cyber specialists who will be able to talk you through the extent of cover available under your policy, including potential compensation to mitigate any financial loss. Although not every cyber-attack can be prevented, cyber insurance will ease some of the stress, knowing you have the right people on your side, who will do everything they can to ensure that the process does not take its toll on your mental health. With competitive premiums for all its products, you, your loved ones and your business will be more prepared to deal with cybercrime, on a number of scales.
In this digital age, it is entirely appropriate that insurance providers offer high quality and comprehensive policies to protect against the impact of a cyber-attack. A stressful event for anyone, but with more technology in our homes and at work, good preparation is key to stop the digital world affecting ‘real’ life.
For more information visit www.howdengroup.co.uk