As society becomes more connected with technology in all aspects of life, it means that more attention needs to be focused on cybersecurity. The threat is no longer just a concern for large corporations or financial institutions. Small businesses and individuals need to remain vigilant to protect themselves and their information.
1. There is a Hacker Attack Every 39 Seconds.
Studies have just begun to quantify the rate of hacker attacks on internet-connected devices. The average is every 39 seconds, affecting one out of every three Americans each year. It is estimated that there are twenty-five connected devices for every one hundred people in the United States.
2. Almost Half of Cyber-Attacks Target Small Businesses.
Technology, retail, and government industries are attacked most often because of the high level of personal identifying information in their records. The most well-known and largest security breaches are often major industries with large numbers of records. However, small businesses are not immune to cyber threats. In fact, criminals know small businesses lack the resources big companies have and therefore become a target more often than you may realize.
3. The Average Cost of a Data Breach is Growing Rapidly.
As businesses get more connected, cybercrime will have a larger financial impact. The average cost globally per record is $150, and the average size of a breach is 25,000 records. In the United States the cost can be closer to $242 per record, with healthcare coming in at $429 per record. Much of this cost comes from lost customers stemming from a loss of trust in the business once a breach has occurred.
4. Human Error is Responsible for Nearly 95% of Data Breaches.
Hackers and cyber-criminals will look for the easiest point of entry, which is typically weak usernames and passwords, or other human error like employees accessing sensitive data over unsecured networks. Very rarely does a data breach come through the cyber security measures you have in place.
5. Companies Take an Average of Six Months to Detect a Data Breach.
The average time to identify a breach is 206 days, and the time needed to contain it is 73 days. The sooner a breach is contained, the less it costs the company, both financially and in reputation. To find and remedy these breaches more quickly, it is essential to maintain rigorous control and diligently monitor all data.
6. The Majority of Organizations Do Not Have a Cyber Security Response Plan.
Over 50% of companies have experienced at least one attack, but the majority of organizations are not prepared. Another factor that can drastically reduce the cost of a data breach is to have an incident response team with a well-tested incident response plan. This factor can reduce the cost of a data breach by nearly one-third of the potential amount.
7. It is Estimated That There Are Over 200 Billion Connected Devices Right Now.
The more devices that are connected, the greater probability for a cyber-attack.
You can take measures to keep your data, information, and organization safe. Simple steps are often the strongest first line of defense against hackers and cyber-attacks.
Trust AccuShred with your data protection needs to further secure your company’s sensitive data. Our trusted services, combined with the CSR Readiness Pro Suite, can help you assess your current data security processes and suggest ways to strengthen your practices. Contact us today to learn more.