Think Your Business Is Too Small for a Cyber Attack? Think Again.
Cybercrime is escalating rapidly in Ireland, with businesses facing an increasing number of attacks that can cause severe financial and reputational damage. Damian Smith, Head of Commercial Lines, Campion Insurance, says: “With the average Irish business experiencing a cyber-attack every 6 days, there are two key questions any business needs to constantly ask itself. One, do I know my cyber vulnerabilities and two, how am I protected if the attack impacts my ability to trade.”
Why Small to Medium Businesses Are Prime Targets for Cybercriminals?
Many Irish SMEs believe they are too small to be targeted by cybercriminals, but this misconception leaves them vulnerable. Hackers see SMEs as “low-hanging fruit” due to weaker security measures and lower cybersecurity awareness.
Top Reasons Hackers Target Businesses:
-
- Weaker Cybersecurity Defences – Many SMEs lack dedicated cybersecurity teams or advanced security tools.
-
- Valuable Data – Customer and financial data can be sold on the dark web or used for fraud.
-
- Access to Larger Organisations – SMEs working with larger firms can be exploited as entry points for bigger cyberattacks.
-
- High Ransom Payment Likelihood – Many businesses opt to pay ransom demands to avoid operational downtime.
The Financial & Reputational Impact of Cyber Attacks
Cyber incidents can be financially crippling and cause lasting reputational damage. The costs associated with an attack may include:
-
- Operational Downtime – Many businesses cannot function while systems are locked or data is compromised.
-
- Regulatory Fines – The Data Protection Commission (DPC) has increased enforcement of GDPR violations, imposing heavy penalties for breaches.
-
- Legal & Compliance Costs – Businesses may face lawsuits from customers or partners affected by data breaches.
-
- Ransom Payments – Paying cybercriminals to restore access can be costly and does not guarantee recovery.
-
- Reputational Damage – A cyber incident can lead to a loss of customer trust, which is difficult to rebuild.
Cyber Prepare by Campion Insurance: Assess & Strengthen Your Cyber Resilience
The first step in protecting your business is understanding your cybersecurity vulnerabilities. Cyber Prepare is an assessment tool designed to help Irish businesses evaluate their cyber risk exposure and implement stronger security measures.
-
- Interactive Cyber Risk Assessment – A structured questionnaire helps businesses identify weaknesses in their cybersecurity practices.
-
- Attackers’ Eye View Scan – A non-invasive scan analyses a business’s online presence to detect vulnerabilities from a hacker’s perspective.
-
- Comprehensive Dashboard & Reporting – Businesses receive a detailed cyber risk report with recommendations for improving security.
With Cyber Prepare, businesses can gain a clear understanding of their risk profile and take proactive steps to mitigate threats before an attack occurs.
Take action today. Don’t wait until your business becomes a victim. Ring John Mernagh on 090 6665139 or email jmernagh@campion.com to book a Cyber Prepare Assessment to evaluate your business cyber risk exposure.
Campion Insurances Limited trading as Campion Insurance, PIB Global and Bestquote.ie is regulated by the Central Bank of Ireland.
