Data breaches cause widespread havoc across an organization. Because a breach’s impact is so significant it’s imperative to implement across-the-board cybersecurity policies for all departments.
Data breaches steal precious time and resources from the day-to-day functions of a business, costing firms a significant amount of money to identify, contain and remedy. Compromising customer’s information also affects your insurance costs and can chip away at a brand’s hard earned reputation and relationships with its customers. A business can spend an inordinate amount of time repairing the damage-both financially and publicly-resulting from a data breach.
Statistics are startling. The Verizon 2018 Data Breach Investigations Report found that healthcare, hospitality and foods services, and the public sector had the highest amount of data breaches in 2017. But all industries – from financial services to education and manufacturing – were adversely affected. And don’t forget the small businesses. Breaches aren’t just a large enterprise problem. In 2017, 58% of data breach victims were small businesses. Large or small, companies of all sizes and in all industries need to be aware of their security risks and vulnerabilities.
Best practices for Financial Executives:
There are several precautions and actions organizations should take to protect their information and prepare their employees and systems for potential cyberattack:
Cyberattacks are unfortunately part of doing business in the digital world and don’t appear to be going away as attackers continuously evolve their methods to evade detection and work around sophisticated security measures. Keep your business and reputation protected.
If you need assistance with cybersecurity give DarkHound a call at 714-463-6145 or contact us at [email protected]