Securing the company before the holidays: A question of millions

When the Swedes put away their work tools to enjoy their vacation, the cybercriminals don’t take time off. Rather, their activity increases, with large costs for the companies that have not holiday-insured their business. The police and the National Fraud Center recently raised the alarm about an increase in telephone scams targeting businesses. – Having been exposed to an IT breach is not something you want to talk about out loud as a business owner. It is hugely sensitive, for obvious reasons. But we who work with these issues see how incredibly expensive it can be if you don’t secure the business properly. And not least during the holidays, many companies and operations are even more vulnerable, says Alec Särnholm, strategic IT expert and partner at ECIT.

Holiday periods pose an increased risk for businesses

During the holidays, companies are especially vulnerable. On the one hand, summer temps usually do not have full control of the security routines, and on the other hand, the vacationing employees, engrossed in their well-deserved time off, can be more vulnerable to fraud attempts. Over half of all hacking attempts take place via social media and e-services, which are platforms that employees often use during vacation periods.

A question of millions of kroner

Alec Särnholm emphasizes that the financial consequences of data breaches can be catastrophic. Companies can lose, or risk losing, millions of kroner if they are not properly protected. – There are examples of companies that have managed everything in the right way, and then still came a hair’s breadth away from losing huge sums of money – often because a single employee did not follow the safety procedures, says Alec Särnholm.

To secure the business during the holidays

To avoid unpleasant surprises during the holidays, it is important that companies take measures to secure their business during the holidays. Särnholm emphasizes, among other things, the importance of: Ensuring that employees on leave do not work during the holidays, which reduces vulnerability. Ensure that everyone, especially summer temporary workers, is well informed about the company’s security procedures and programs used. Ensure that regular staff do not connect to unsecured networks during the holidays. Improve security immediately, if deficiencies are known, instead of waiting until after the holidays.

A growing trend: data breaches and fraud

Statistics from the Crime Prevention Council (BRÅ) and the Theft Protection Association SSF show that data breaches in Sweden increased by 19% in April 2023 compared to April 2022, with 55% of breaches occurring via social media or e-services. The number of reported frauds has also increased, with a 10% increase in April 2023 compared to the same period last year. Card fraud was most common, accounting for 49% of all reported fraud.