The cyber-security industry is rapidly growing in response to the number of cyber-crimes that continue to plague businesses large and small. It is clear that no organization, regardless of its size or vertical, is safe from a data breach.
According to “The State of Cybersecurity in Small and Medium- Sized Businesses” conducted by Ponemon Institute, “Cyber attacks, ransomware and disruptive technologies, such as the Internet of Things (IoT), challenge the ability of small businesses to safeguard their information assets.” Their survey showed that 61 percent of respondents experienced some type of cyber attack in the past 12 months, and 54 percent of those data breaches involved customer and employee information. These attacks cost organizations an average of $1,027,053 each year, due to damage or theft.
Cyber-crime continues to be a real threat. Consider some of these pressing cyber-security statistics as you plan for the New Year:
- 54 percent of businesses state negligent employees were the root cause of data breaches, an increase from 48 percent from last year. (State of Cybersecurity in Small and Medium Sized Businesses)
- Only 29 percent of respondents say they have confidence in their ability to contain or minimize the risk of an insecure Internet of Things. (State of Cybersecurity in Small and Medium Sized Businesses)
- It is evident that strong passwords are an essential part of maintaining data security. However, 59 percent of businesses say password policies are not strictly enforced. (State of Cybersecurity in Small and Medium Sized Businesses)
- 62 percent of breaches were the result of cyber-crime. (2017 Data Breach Institute Report)
- 81 percent of hacking-related breaches leveraged stolen or weak passwords. (State of Cybersecurity in Small and Medium Sized Businesses)
- 66 percent of malware was installed via malicious email attachments. (2017 Data Breach Institute Report)
- From 2016 to 2017 the average cost of damage or theft of IT assets and infrastructure increased from $879,582 to $1,027,053. The average cost due to disruption to normal operations increased from $955,429 to $1,207,965. (2017 Data Breach Institute Report)
- Businesses are losing more records in a data breach. Companies represented in this research lost an average of more than 9,350 individual records as a result of the data breach. (2017 Data Breach Institute Report)
As you prepare for the New Year, keep your organization’s security at the top of your concerns. Contact ITSecureNow to learn how we make your security our top priority.