In the global digitalized age, cyber security incidents have increased dramatically, and network risk has become a key concern for many Hong Kong enterprises.
Cyber risk is not limited to technology companies or large businesses. According to Chubb's Hong Kong SME Cyber Preparedness Report 2019, more than three-quarters of surveyed SMEs had experienced cyber incidents in the past year.
The survey also revealed that enterprises in Hong Kong have a low level of confidence in their employees' ability to manage this risk. The most commonly experienced types of cyber incidents were data loss through system malfunction and technical fault, human error, and business interruption from system malfunction and technical fault.
SME employees, and even business owners, are often not aware of the seriousness of the network risks, and there is no consistent understanding of the meaning of network risk among companies.
To address misconceptions about cyber risk and to help SMEs protect their businesses, Cherrie Wong, Cyber and Crime Senior Underwriter from Chubb, will share more findings from the report and discuss the solutions that SMEs can use to mitigate cyber risks. She will also introduce some of the incident response plans available.