One of the most prevalent types of cyber-crimes comes from malicious software, more commonly known as malware. Malware can exist in many forms, such as ransomware, spyware and viruses. Once malware infiltrates a device or system, cyber-criminals can gain access to critical information. For instance, Royal Mail fell victim to a ransomware attack in January 2023 after hackers encrypted Royal Mail’s international export systems and demanded a huge ransom payment in exchange for the decryption key. The attack resulted in severe disruption to international export services and significant consumer delays.

To avoid a similar fate, protecting your organisation against malware is vital. Consider the following tips for doing so:

• Frequently back up data and devices.
• Utilise antivirus, anti-malware and anti-phishing software.
• Use a firewall on company devices.
• Keep company software up to date.
• Train employees to be cautious about downloading any files or attachments.
• Use an ad blocker.
• Try to avoid using public Wi-Fi when travelling.
• Turn off Wi-Fi, GPS and Bluetooth settings when they are not being used.
• Be wary of emails and text messages containing links.
• Never share personal information, such as any security question answers, that hackers could use to access accounts.
• Purchase robust cyber-liability insurance to cover the cost of malware attacks or other losses incurred from breaches.

Although malware and other cyber-attacks are a constant threat, by ensuring you have sufficient cover and the necessary risk-mitigation tools, you can go a long way in protecting your organisation from these and other perils.

Contact us today for further guidance and insurance solutions.