In an increasingly digital world where motor dealers are facing growth in online/web enquiries driving physical footfall, there is more risk than ever of cyber security breaches.
This was ‘brought home’ to many by the recent global WannaCry cyber attack.
WannaCry was particularly damaging because it was also a worm looking for other computers to spread to, not just a ransomware programme. Many of you will recall the news that WannaCry ransomware utilised a ‘Windows’ vulnerability that was exposed as part of the leaked NSA (National Security Agency in the US) hacker tools.; this sounds like the plot of a ‘Hollywood movie’ but without the hero/heroine to save the day.
Cybercrime Security Advisors have commented that, from a technical perspective, WannaCry was not a sophisticated bit of software; had it been executed with a little more finesse, its impact could have been significantly worse.
The cybercriminals are clearly working on the next series of cyber attacks – so what realistically can and should you, the motor dealer be doing?
This is a question (quite properly) posed by motor dealers to their lawyers, IT team, external service providers and insurers. It is also a topic that Lee Cohen of Hamilton Leigh Insurance Brokers (motor dealer sector specialists) has presented on at our Motor Dealer Forums, and written articles previously for Motor Matters. Hamilton Leigh Insurance Brokers has teamed up with RDS (Cyber Security Specialists) to offer a full Cyber Security package, from audit through to insurance, to guide you through the process of properly protecting your business. In Lee’s words: “Just as we have insurance for our cars and assets, we must also insure against cyber-attack and properly protect our businesses for cyber liabilities. This market is growing rapidly, however, the variance in cover offered by insurers’ can be huge. It is essential that you work with a specialist cyber broker that fully understands the retail automotive sector and can recommend the appropriate policy coverage”.