The annual Chubb SME Cyber Preparedness Report - ‘Ignorance is Risk’, revealed 84% of Small and Medium Enterprises (SMEs) in Malaysia were affected by cyber incidents in the past year. At the same time, 67% of SMEs incorrectly believe that large corporations are more at risk than SMEs.
The report showed that human and administrative error leading to loss of personal or corporate information was the largest cause of cyber incidents at 48%. It also examined SMEs’ cyber preparedness, common concerns among SMEs post-breach, as well as the incident response plans.
Other key findings from the report include:
|61% of respondents said that the cyber incidents they suffered stemmed from a previously identified risk.|
60% of respondents were unaware of all the cyber threats they face.
41% of SMEs believe that employees are neglecting their responsibilities around data protection
|Customer records are the most commonly breached data – with 40% of businesses facing a breach of customer files in the past 12 months, followed by R&D data, IP data and financial performance data, all at 31%.|