According to the 2021 Cyber Readiness Report published by Hiscox, the amount that companies are spending on cyber security has doubled since 2019. The survey based on more than 6,000 companies in Europe and the US highlighted that the increased spending was as a result of a growing cyber threat. The study showed that more businesses were targeted by cyber criminals in 2020 than during the previous year, and that 28% had been targeted more than 5 times within that period. Almost half felt that their vulnerability to cyber crime had increased since the start of the Covid-19 pandemic and around one in six believed that a cyber security event would threaten the viability of their business.

The survey also assessed the six different areas required for an effective security system and how the organisations responding to the survey performed in these areas. One key area was “Identify and access management” and interestingly this came second bottom of the list across all companies surveyed. It is simple that access control has not traditionally being at the forefront when it comes to cyber security, however this is changing. It is now being recognised that if an access control system is compromised then the daily operations of the building will halt, risking those within the building. Companies are now starting to prioritise the most urgent threats, including:

These threats pose a cyber and a physical threat, and can cost business millions in regulatory penalties, disruption of core business and reputational damage. With regards to access control, there are some additional measures that could be followed to increase protection:

These measures are neither complex nor costly to implement but the benefits are extensive. With the number of cyber-attacks and data breaches on the rise, increase, can organisations simply ignore them?