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Cybersharks can smell blood in the water

At least two Bermuda institutions have been hit by cyber incidents recently (File photograph)

The volume of cyberattacks in Bermuda could intensify “like blood in the water” as news spreads of our tech weaknesses.

This assessment came from tech security expert Taheera Lovell in the wake of a “cybersecurity incident” at Lindo’s last week, that came hard on the heels of an “IT security incident” at the Bermuda College.

“They target small businesses precisely because they often lack the robust cybersecurity defences of larger companies,” said Taheera Lovell, of the TLC Group.

The Bermudian-run company, based in Britain, runs tech training workshops and seminars for businesses in Bermuda and overseas.

“A few years ago, most of our cybersecurity conversations stemmed from organisations wanting to comply with data protection legislation,” Ms Lovell said.

In the last year, she has seen a shift in the conversation.

“Businesses are now focused on resilience,” she said. “We have been advising on preparing for threats, having robust defences in place and a clear action plan for when things go wrong.”

She said for small businesses, which often operate with tight margins and limited resources, a single cybersecurity breach could be the difference between profitability and financial ruin.

There is some good news, however.

“There are many cost-effective solutions available now specifically for small businesses, which can improve their overall cybersecurity resilience,” Ms Lovell said.

She encouraged all organisations, no matter the size, to include cybersecurity management in their business plans and strategy and, at a minimum, review their cybersecurity protocol annually.

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Published April 02, 2024 at 8:08 am (Updated April 03, 2024 at 8:10 am)

Cybersharks can smell blood in the water

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