According to a report compiled in September 2015, the third sector generated a combined income of £39billion!* When you consider figures such as this, it becomes clear why charities are valid cyber security targets.
With threats including ‘ransomware’ where systems and data can be held hostage by hackers until a ransom fee is paid, it is vital to protect the hard earned income raised to benefit your worthy cause. Cyber attacks can be costly in both financial terms and also when it comes to disruption and reputational damage.
Here are some tips to help you ensure your systems and data remain safe and secure…
Step 1 – Understand the risks
By acknowledging potential challenges, you will be better prepared to protect your virtual assets. Many charities collect and store vast amounts of sensitive data – safeguarding this data and other confidential information is of great importance. Our experience working with charitable organisations means we understand the budgetary restraints many admirable causes face. Therefore, could you partner with a local IT company that would provide advice and assistance in return for some great PR? Many commercial organisations opt to support charities – finding one that could provide technical knowhow would be a bonus!
Step 2 – Educate your staff
Sometimes the people working within your organisation can unknowingly open the door to cyber risks. Train and advise people not to open unknown attachments or click on links that look suspicious. There are many ways to protect against the attempts of hackers and educating those with access to your IT systems is essential.
Step 3 – Protection is key
Cyber liability insurance is a form of cover that many businesses are now making a priority, as it covers personal losses as well as legal, IT security and regulatory costs that may occur to contain a data breach before a claim arises. This can provide added peace of mind and safeguards organisations should the worst happen.
Step 4 – Review, review, review
Sadly cyber criminals have become more and more sophisticated in their online hacking techniques. With this in mind, thinking that you’ve taken the appropriate actions and protected your organisation against future threats isn’t necessarily the case. Your IT security will need to be reviewed and assessed on a regular basis to ensure it remains as robust as possible.
If you would like to find out more about how WRS Insurance can support your charitable organisation with charity cyber liability insurance provision, please contact our specialist team today.
Infographic provided by Markel International