The Importance of Cyber Liability During the Holidays

Posted on 2 December, 2022

The importance of cyber liability is substantial, and businesses must proceed with caution, especially during the holidays. The holiday season is typically when employees have their minds elsewhere: family, friends, and festivities. Work is often not the top priority once the weather chills and the merry-making begins. Unfortunately, these very reasons result in an increase in cybercrime during the holiday season.

The Importance Cyber Liability and Various Concerns

A survey of 1,206 cybersecurity professionals whose organizations experienced cyber crime during the last holiday indicated that 89% are concerned about a repeat attack during the upcoming holiday. However, only 53% reported having a contingency plan to stop it. Healthcare and manufacturing organizations were among the least likely to have a defensive strategy, and those sectors are two of the most significant worldwide ransomware targets.

Why Cyber Criminals Love the Holidays

The holiday season typically sees a significant uptick in cybercrime. Here are some issues that surface at this time of year, highlighting why cyber liability is essential in the holiday season.

Shopping Season

The increase in online holiday shopping and the many deals that surface during this time encourage criminals to launch phishing attacks with malicious links disguised as bargain consumer offers. Fraud also occurs with sniffing and inserting malicious scripts into online payment pages to steal credit card data.

Time Off

When the office is closed for an extended time, as in specific industries during the holidays, cybercriminals encounter fewer obstacles when they launch an attack. They can hack systems and go undetected for more extended periods.

Remote Workers

Some companies allow employees to work remotely as they travel for the holidays. The result is unsecured internet access that creates an additional risk to confidential data and resources.

Office Parties

Corporate social events are more numerous during the holiday season. While parties can be suitable for company culture, they can also create the perfect scenario for cybercrime. When your office doors are opened to outsiders, ensure that your computer systems and related hardware are secured and inaccessible.

Gift Cards and Rewards

The volume of cyber gifts and well-wishes sent and received during the holiday creates an abundance of vulnerability. When you receive a gift card, reward, raffle entry, or other enticing holiday offers, be wary of clicking on the link or entering information. Verify the identity and authenticity of these offers to ensure a malicious party does not back them. Failure to use caution could compromise password security or open a “trojan horse” to hack your system.

While no company wants to be seen as a Grinch and put a stop to holiday merriment, the wise executive will provide additional cyber awareness training and create a plan for safe digital health during this vulnerable season.

About Byrnes Agency

At Byrnes Agency, we offer insurance solutions that can be tailored to meet your specific needs. Whether you’re looking for personal policies or commercial coverage, we have the right coverage for you. To learn more about our products, contact us today at one of our two locations.

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