What Is Cyber Security & Why Is It Important?

Cyber security is something individuals and businesses can practice in their everyday lives to keep their data safe and secure. This could be anything from securing your computers, smart devices, servers and networks to being cautious about where and how you share your data.

Cyber security is becoming increasingly important as data and processes move into a digital space. As the reward for digital hackers to extract valuable information increases, so does the need to protect the very data they’re targeting.

Why is cyber security important?

According to the GOV cyber security breaches survey 2024, 50% of businesses and 32% of charities have experienced some form of cyber breach in the previous 12 months. The data on individual attacks aren’t as commonly reported, but AAG reports that 1 in 5 internet users have had their email leaked online.

These stats highlight just how commonplace cyber attacks are and, in turn, why cyber security is important for individuals and businesses. Cyber attacks come in various forms, such as phishing, malware and impersonation and can lead to various consequences, such as:
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• Financial loss: Cyber attacks can cause direct financial losses through theft, fraud, or ransomware, where attackers demand payment to restore access to data.
• Data theft: Personal details, financial data, and intellectual property can be stolen and misused, leading to identity theft, financial fraud, and other crimes.
• Reputational damage: A cyber attack can result in a loss of customer trust. Customers expect their data to be secure, and any breach can damage a company's reputation and affect customer relationships or contracts.
• Operational disruption: Attacks can disrupt business operations, leading to downtime, loss of productivity, and additional costs for recovery and system repairs.

Importance of cyber security for businesses

Cyber security is an important consideration for businesses of all sizes to protect themselves, employees and their customers. Procedures are essential for safeguarding customer data, protecting intellectual property, and keeping access to internal systems and files.  Some examples of what to consider include:
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• Customer data protection: Businesses collect and store vast amounts of customer information. A data breach can lead to severe reputational damage and loss of customer confidence, as well as putting them at risk.
• Intellectual property security: Companies often hold proprietary data and trade secrets that, if exposed, could damage their competitive advantage. Effective cyber security measures help protect these valuable assets.
• Regulatory compliance: Many industries are subject to strict data protection regulations, and businesses must comply with these rules to avoid legal consequences and fines. For example, we’re regulated under the London Local Authorities Act 2007 (section 75), and the Money Laundering and Terrorist Financing (Amendment) Regulations 2023.
• Operational continuity: A cyber attack can disrupt operations leading to downtime and lost revenue. By investing in strong cyber security, businesses can minimise the risk of such disruptions and ensure that they can continue to operate even when faced with cyber threats.
• Disaster recovery and business continuity: Cyber security involves planning for how a business will respond to an incident, ensuring it can recover quickly and minimise disruption. Disaster recovery plans help restore systems and data, while business continuity strategies enable companies to keep operating despite challenges.

Importance of cyber security for individuals

Cyber security isn't just a concern for businesses; it’s equally important for individuals who have personal data that’s valuable in cyber scams. With more personal activities taking place online—such as banking, shopping, and social networking—individuals face various risks that can lead to financial loss, identity theft, and privacy breaches. Here’s what to bear in mind:
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• Protection against identity theft: Personal information, such as passwords, credit card details and your personal address are valuable to cyber criminals. Effective cyber security practices help protect individuals from having their identities stolen and misused.
• Safeguarding personal data: From photos to private conversations, people store a lot of personal data online. Without adequate security measures, this data can be exposed to unauthorised access.
• Preventing financial fraud: Online transactions are convenient but can be vulnerable to fraud. Phishing scams, malicious websites, and insecure networks can lead to financial theft.
• Avoiding device compromise: Malware can infect personal devices, leading to system damage, data loss, and unauthorised access.

Cyber threats: What to be aware of

Being aware of common cyber threats may help you spot them before falling victim. Some examples include:
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• Malware: Malicious software, or malware, refers to harmful viruses, ransomware, and spyware. Malware can damage systems, steal data, or disrupt operations. Ransomware, for instance, locks users out of their systems until a ransom is paid. Other forms of malware include Trojans, spyware, and adware.
• Phishing: Phishing attacks deceive individuals into revealing sensitive information such as login credentials or financial details. This is often done via emails or SMS messages that appear to be from trusted sources, tricking users into clicking malicious links or downloading harmful attachments.
• Denial-of-service (DoS) attacks: These attacks aim to overwhelm a system, service, or network with excessive traffic, rendering it unavailable to users. A recent example of this is the DDos attack on Microsoft Azure and 365 services which led to widespread outages across the globe.
• Data breaches: Cyber criminals often target databases containing confidential information. Data breaches can result in unauthorised access to sensitive data, including personal details, passwords, and financial information which may then be sold on the dark web or used for fraudulent activities.
• Man-in-the-middle attacks: These attacks occur when an attacker intercepts communication between two parties, often to steal data. One example of this risk is on unsecured WiFi networks.
• SQL injection: This type of attack involves inserting malicious code into a database query, allowing attackers to manipulate or steal data.

Areas of cyber security to consider

Effective cyber security encompasses various areas, each focusing on a different aspect of protection. Key areas include:
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• Network security: This involves protecting data as it travels across networks, ensuring that only authorised users can access and share information. Techniques such as firewalls, encryption, and intrusion detection systems are commonly used to secure networks.
• information security: Often referred to as InfoSec, this area focuses on safeguarding data integrity, confidentiality, and availability. It ensures that sensitive information is protected from unauthorised access, both when stored and in transit.
• Application security: Application security aims to protect software and applications from potential threats. This includes coding practices to prevent vulnerabilities, such as SQL injection and cross-site scripting.k
• Operational security: This area covers the procedures and decisions related to managing and protecting data assets. It includes practices for controlling how and where data is stored, who can access it, and how it's processed, ensuring that the right protocols are in place for system security.
• Disaster recovery and business continuity: Preparing for incidents is a crucial part of cyber security. Disaster recovery plans help organisations restore data and systems after an attack, while business continuity strategies enable them to keep operating even when faced with disruptions.

Useful cyber security resources

To understand more about cyber security and how to report incidents, the below websites are trusted resources in the cyber security space:

• National Cyber Security Centre (NCSC): The NCSC provides comprehensive resources, guides, and best practices to help individuals and businesses improve their cyber security. Visit their website at www.ncsc.gov.uk.
• Action Fraud: If you’ve been a victim of cyber crime or fraud, you can report it to Action Fraud. They are the UK’s national reporting centre for fraud and cyber crime. Learn more at www.actionfraud.police.uk/reporting-fraud-and-cyber-crime.
• Report Suspicious Emails and Websites: The UK Government provides a service to report phishing emails and websites, helping to combat internet scams. You can report suspicious activity at www.gov.uk/report-suspicious-emails-websites-phishing.

Our solution to secure address and mail management

One area of security to consider is your address and physical mail. Regardless of whether you’re a business or an individual, having your mail intercepted or your personal address leaked can make you more susceptible to cyber threats and fraudulent activities.

We offer a solution that adds an additional layer of security to your address and mail. Here’s how it works:
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• Virtual addresses - You can use a virtual address instead of your home location any time you’re required to provide a correspondence address, such as receiving mail as your company’s registered office address. This allows you to protect your home location by using an alternative address.
• Online mail management - Any mail sent to your virtual address will be securely received and processed before being made available to view on our platform. We undertake strict security measures to ensure your mail is secure and encrypted in our system and out of reach for digital fraudsters.
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We are committed to your security and publicly list the ways in which we handle and protect your data: https://www.ukpostbox.com/security/digital-security-statement

To start protecting your address and mail, choose one of our flexible plans.