Small Medium Enterprises (SMEs) in Hong Kong believe that they are less vulnerable to cyber risks than their larger competitors. According to Chubb's SME Cyber Preparedness Report “Too Small to Fail?”, 52% of the 300 respondents agreed with that statement. They also think that they can overcome cyber breaches quickly and easily, with more than half (65%) believing that they can contain a breach within 12 hours.
However, nothing could be further from the truth.
While SMEs may be at risk of external cyber attacks, our research shows that the majority of the cyber incidents are actually caused by internal factors. The top three incidents are business interruption or data loss through human error, system malfunction or technical fault.
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