Two years ago, two-thirds of all organizations reported some type of incident relating to cyber-crime.
That’s bound to be higher now because of the fraud opportunities created by the rush to Work From Home.
In fact, overall, the world economy loses more than $1 trillion to cyber-crime every year.
That’s a lot of money. And it’s a figure that’s increased by more than 50% since 2018.
In 2019, two-thirds of all organizations reported some type of incident relating to cyber-crime.
You could make a sure bet this figure rose significantly last year, thanks to criminals taking advantage of the pandemic.
It’s easy to look at big figures like these, and not relate them back to your own business. But here’s the thing. The average cost of a data breach to a business is estimated to be around $500,000.
The most common types of crime are ransomware, where your data is locked away until you pay a ransom fee. And phishing, where criminals pretend to be someone else, to get you to click on a bad link. This is how they get access to critical systems.
That huge average breach figure includes:
- Any ransom demanded by criminals who lock your data and remove your access to it
- The cost of recovering your data, and undoing the extensive damage done
- Putting in place additional ongoing security measures after the breach
On top of the financial impact, there’s the reputational one.
Could you imagine picking up the phone to every single client to tell them your data about them had been accessed and stolen? And was it probably for sale on the dark web?
What would happen if the local media or news blogs got hold of this and ran a story about it?
You must ask yourself very carefully: Could your business afford to be hit by a ransomware or phishing attack?
Truth is that many small businesses really couldn’t.
So why do so few businesses have a plan in place to a) prevent and b) respond to cyber-crime?
It’s estimated that more than half of businesses don’t have a plan.
If not, it’s time to do something about it. There’s been an explosion in the number of ransomware and phishing attacks over the past couple of years.
If you’re don’t have an effective plan in place to help keep your business protected – and to minimize damage should the worst happen – you’re leaving yourself vulnerable.
Cyber-criminals are targeting all businesses all the time, using clever automated tools that sniff out vulnerabilities. So, it’s only a matter of time till your business’s defenses are tested.
Fact: Your business needs to be as prepared as it can be against the threat of cyber-crime.
Read and Download our brand new guide now. And you’ll see our recommended 5 step plan to prepare for an attack, and protect your business.
If you don’t have an IT support partner that you can trust to give you the right support and advice, we’d love to help. Give us a call and let’s talk.