Cybercrime continues to pose a real threat to businesses of all sizes, both large and small. Studies have shown that 83% of organisations have experienced more than one breach in the last 12 months. Additionally, there is an attempted ransomware attack every 11 seconds and 53% of small enterprises that fell victim to ransomware attacks did not recover their data.

Email phishing attacks accounted for more than half of all cybercrimes and these types of attacks mostly affected individuals and small businesses.

A significant 90% of the problem can be attributed to human error. As a result, businesses must prioritise employee education regarding the risks posed by cyberattacks and what specific signs to watch out for. Some of these include:

• Grammar and spelling errors
• Poor punctuation
• Emails that have a matter of urgency
• Suspicious links
• Attachments in emails ending in .exe / .scr / .js

To prevent spear phishing attacks, keep your antivirus and software up to date, back-up your files regularly, keep back-ups offsite and never download strange and unsolicited attachments.

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Although all possible care was taken in the drafting of this document, the factual correctness of the information contained herein cannot be guaranteed. This document does not constitute advice and anyone planning on taking any financial action based on this document, is strongly advised to first consult with their personal financial advisor. ProVérte Risk Management is an authorised financial service provider with FSP no. 51584.