No matter how good your IT security is, your business is at risk for having both company and client information stolen. Most recently apple Google, Facebook, Citibank, and even the federal government have all fallen prey to cyber-attacks in the past year.
It’s not just the big name companies that are at risk either – more smaller and mid-sized companies are becoming the targets of online data theft and fraud. Cybercrime has become organized and is now over a trillion dollar a year business. While large-scale security breaches tend to get more attention from the media, it makes more sense for hackers to find easier targets which are smaller and more vulnerable companies. According to the Ponemon Institute the average cyber attack can cost companies 3.8 million per year, but can range from $1 million to $52 million per year per company.
The good news about cyber is that most data and privacy breaches are preventable. Only 3% of the 1,700 incidents that occurred in 2010 were considered unavoidable. By carefully identifying your exposures and proactively planning for incidents, you can do a great deal to ensure your company isn’t the next cyber victim.
Find out how much a Cyber Breach could cost you. Try the Ponemon Institutes Data Break Risk Calculator!
For further information on Cyber Liability please do not hesitate to call SCS Agency Inc at 516-466-6007.
