Every organisation no matter how small these days has data flowing through it and some of that data must represent a reputational risk if it was compromised. Even if you think you are a minnow in the data stakes it’s worth considering what you have that could be a risk and how you make sure that you look after it.
The cost of a data breach is damaging. 696 million records were compromised last year with an average cost 1,000 records of breach between estimated $52,000 and $87,000. The total cost has risen a whopping 11% from 2014 to 2015. It has been concluded that breaches were caused by human error, system glitches, and malicious or criminal attacks. In 60% of cases, it only takes minutes for attackers to compromise an organisation, while 38% of these cases took several days to contain.
Half of small businesses claimed to had been victims of cyber attack and the percent of cyber attacks aimed at small companies has doubled since 2011. It is alarming that 63% of SMEs are not prepared to counter cyber threats and it is definitely worth looking into the latest technological advances to protect your data.
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