Enterprise-Level Cyber Security for Small Business
About Blackall Financial
Blackall Financial is a bespoke pension and wealth management brokerage based in Malahide, Co. Dublin. The brokerage specialises in advice for professional clients, including doctors, medical consultants, business owners, and self-employed professionals. It is owned and managed by Ciaran Blackall QFA, RPA, SIA, who has over 30 years of experience in financial services. His background includes roles in insurance companies, accountancy firms, and stock-brokerages. Ciaran is also the President of Brokers Ireland.
“The personal touch means everything to my clients. I am in constant contact with them, and they rely on my advice for their current and future financial well-being,” says Ciaran.
The Cyber Security Challenge
Ciaran describes himself as a self-proclaimed Luddite when it comes to IT. However, he has built a solid IT infrastructure, including regular cloud backups, cloud office functionality via Microsoft 365, SaaS ERP, and basic cyber security protections such as anti-virus and malware protection.
However, following the high-profile HSE cyber attack and a ransomware incident involving an acquaintance, Ciaran realised he needed to do more.
“A local accountancy firm was hit with ransomware and decided to pay up – that cost them €30,000. Now more than ever, I think the risk of cyber security is at an all-time high. When it hits someone you know, it makes the threat even more real,” he explains.
Cyber attacks on SMEs are increasing. According to the 2023 Hiscox Cyber Readiness Report, 36% of small businesses in Ireland experienced a cyber attack in the past year. Additionally, ransomware remains a persistent threat, with 61% of SMEs globally reporting ransomware incidents in 2023 (Source: Sophos State of Ransomware Report 2023).
Ciaran also notes the rising risks of business email compromise, invoice redirections, and man-in-the-middle attacks. Given that financial firms are heavily targeted, he recognised the need to implement stronger cyber security controls to meet regulatory expectations from the Central Bank of Ireland.
The Solution: A Comprehensive Security Package for SMEs
Ciaran engaged with CommSec to explore additional protection for his business. He discovered Business Secure, an all-in-one cyber protection package designed for SMEs with 50 users or fewer.
“For brokerages like mine, which may have as few as one user, it provides fit-and-forget security protection for a small monthly fee. Everything is managed for me, and all my devices are protected,” says Ciaran.
Business Secure provides security across up to three devices per user, ensuring complete coverage for laptops, tablets, and smartphones. This fully managed service eliminates the burden of security management while maintaining compliance with regulatory requirements.
David McNamara, CEO of CommSec, highlights the importance of cyber security for SMEs:
“Just because small businesses are smaller than enterprise clients does not mean their data is any less valuable. Business Secure provides a high level of protection, including device encryption, automated patch management, multi-factor authentication (MFA), and endpoint security. This is a game-changer in our industry, as smaller companies are often overlooked by managed service providers due to the lower number of users.”
Why Endpoint Monitoring and Patch Management Matter for SMEs
One of the key advantages of Business Secure is its robust endpoint monitoring and automated patch management. These features are critical for SMEs as:
- 90% of successful cyber attacks exploit unpatched vulnerabilities (Source: Ponemon Institute).
- SMEs are three times more likely than larger enterprises to experience a data breach due to outdated software (Source: Verizon Data Breach Investigations Report 2023).
- Endpoint protection reduces malware incidents by up to 85% when combined with regular software updates (Source: IBM X-Force Threat Intelligence Index 2023).
By implementing automated patching and real-time endpoint monitoring, Business Secure significantly reduces the risk of ransomware infections and data breaches.
The Outcome: Enhanced Security and Peace of Mind
With CommSec’s Business Secure, Blackall Financial has significantly strengthened its cyber defences. Ciaran is confident that his business and client data are now better protected against cyber threats.
“The deployment was fast and easy—everything was configured over a remote connection. It requires no management from me. Most importantly, I know the cyber security experts have my back 24/7,” says Ciaran.
Key Benefits of Business Secure for SMEs:
- Comprehensive cyber security protection against evolving threats, including ransomware, phishing, and business email compromise.
- Fully managed service with access to CommSec’s Security Operations Helpdesk for expert guidance.
- Endpoint security for all devices – up to three devices per user, including PCs, tablets, and smartphones.
- Automated patch management and device encryption to prevent exploitation of vulnerabilities.
- Quick deployment – full protection within two working days via remote connection.
- Mitigates risks not covered by cyber insurance – protects against revenue loss due to cyber incidents.
- Excellent return on investment – significantly lower costs compared to the financial and reputational impact of a cyber attack.
Final Thoughts
SMEs like Blackall Financial are prime targets for cyber criminals, yet many businesses underestimate the risks. Business Secure provides enterprise-level security in an affordable and manageable way, ensuring peace of mind for business owners who need to focus on running their companies, not managing cyber threats.
For Ciaran, this solution has made all the difference:
“I can demonstrate that I am doing all I can to protect my business and my clients. That peace of mind is invaluable.”