AWAD’s partners, the specialist art insurers, Hallett Independent, have provided the following update on how to keep your business safe from cyberattacks.
Given the recent cyber attacks on the British Library and other cultural institutions (The Met Opera, Toronto Public Library, Museum für Naturkunde Berlin) are we seeing a worrying new trend? Or, are they just some of a huge number of ‘marks’ which landed for cyber criminals?
The explanation by UK journalist Rupert Goodwin that the British Library attack was ‘largely symbolic’ because ‘as one of the world’s largest lending libraries, with 170 million items, the library is “emblematic” of public knowledge’, may be comforting for smaller institutions, but it is clear that attacks are on the increase.
So what can institutions do to guard against attacks? Especially when already resource challenged?
Firstly, your insurance broker should be talking to you about cyber risks and the options available to you. Informed brokers should be a conduit of knowledge about what the main risks are, what you can do about them and if you want to pass these these risks onto an insurer or not. Hallett Independent’s recent Instagram post highlighted some top tips:
*Speak to us or your insurance broker about cyber insurance as these policies will give you a wrap around 24/7/365 response to any incident. It will provide access to IT forensics to get systems back online plus lawyers and PR experts to help with the fall out and advise you.
* Staff training and procedures. Human error still accounts for the vast majorly of incidents. Ensure your staff are properly trained. Also, companies should have strict rules around who can move money and change bank account details. A huge red flag is bank details changing mid deal/transaction.
*Passwords. Use 3 random words which are much harder to guess and different ones for all different systems.
*Back up your data and update your devices.
* Multi Factor authentication. Use it on everything!
* Look at the UK National Cyber Security website or the US Office of the Director of National Intelligence website for extensive advice on cyber risks and protection.
