Data Breach Statistics That Stand out
71% of security breaches target small businesses -
While small business cyber attacks are seldom news worthy, the majority of cyber attacks affect small businesses. The underlying issue is that small businesses are usually the least equipped to protect against an attack and most hackers will take advantage of the weakness. With the use of technology in the workplace becoming so extensive in business, you cannot afford to let your guard down and must do whatever you can to protect your business and its assets.
69% of cyber attacks target retailers and restaurants -
Retailers and restaurants experience the most breaches, as many are small businesses.
These businesses are ripe targets for cyber criminals given the relatively large traffic volume and sensitive nature of the customer and credit card data that flows through their networks. While most of these retailers and restaurants view robust cybersecurity as an unnecessary expense, one significant attack could easily wipe out their business.
28,765 records are stolen on average per data breach -
When you consider that most breaches occur within a small business environment, 28,765 records being stolen per breach is an astounding number, given the fact that most businesses breached have fewer than 100 employees. Typically the attack occurs weeks or months prior to owner discovery allowing the cyber criminal ample time to siphon critical information.
$188 is the average cost per record stolen in a data breach -
When looking at the previous statistic, you soon realize the cost associated with a data breach averages well over $5 million. Few small or medium sized businesses could afford to absorb such an unexpected cost without filing for bankruptcy or at a minimum taking on large amounts of debt.
Source information provided by:
1. 2013 Global Security Report by Trustwave
2. 2013 Cost of Data Breach Study: Global Analysis by Ponemon Institute
Latest Cyber Security News
The financial risk to your small and medium sized businesses and its data becoming compromised continues to climb, and the threat should not be taken lightly. Several government entities have some simple planning guides that will provide some level of security for your small business. Please follow the links for more information.
2. Ten Cyber Security Tips for Small Businesses - DHS and FCC
Crow River Financial understands the needs of your business when it comes to Cyber Security. We will provide data security support for your business and facilitate a best practices plan for your organization.
In 2012 the average cost per security breach reached more than $5,000,000 per incident. Protecting your business can no longer wait, your financial security depends on it.