The headline reads: Adobe Breached By Cyber Attack.
The story reads: Attackers accessed approximately 2.9 million Adobe customers ID’s encrypted passwords; plus gained illegal access of its source code for Adobe Acrobat, Cold Fusion and other software.
In the age of digital technology, this ‘news’ is as common as a report on a natural disaster or war raging in another part of the world; and sadly, often met with the same indifference.
The key is ‘perception’ and while major hacking scandals in large corporations make for great headlines, they are not representative of how many small and medium businesses incur security breaches.
Data is vital to day-to-day operations for any company, so a laid back approach in security can be disastrous … and as a small or medium sized business with limited procedures in place, you’re more likely to be targeted for an attack or breach because it is ‘perceived’ you’re vulnerable.
So how much does a breach or attack actually cost? …. Simply, it costs a company approximately $117 for every breached record and it is estimated the economic value of a company’s reputation declines approximately 21% as a result.
Before you start frantically calculating the numbers in your head, I’ve provided this link www.databreachcalculator.com to help you calculate the monetary outlay your company would need after a security breach or attack. It will only take a few minutes of your time to complete.
… Now that you have some insight about the costs involved, the fact of the matter is: No-one can protect everything all the time. More importantly, with today’s racing technological advances: it’s no longer a question of “if” you’ll be breached, but “when”.
So take heed of the warnings by the experts: protect your data!
With the right procedures in place, the ability to withstand and recover becomes the ultimate competitive advantage because you’re able to survive the disruptions your competitors cannot.
Let me explain how a majority of security breaches occur …
In Australia, according to the ‘2013 Cost of Data Breach Study’ issued by the Ponemon Institute, approximately:
- 43% – occur due to malicious/criminal attacks
- 33% – occur due to employee negligence
- 24% – occur due to system glitches
This means that approximately 57% of data breaches occur due to variables such as employees mishandling information, lax operating procedures, violations of industry and government regulations, inadvertent data dumps, stolen or lost laptops/hardware and wrongful access.
This data is further highlighted by Symantec, who reported in February 2013, that Employees not only think it is acceptable to take and use information when they leave a company, but also believe their companies do not care.
Furthermore, only 47 percent say their organisation takes action when employees take sensitive information contrary to company policy and 68 percent say their organisation does not take steps to ensure employees do not use confidential competitive information from third-parties.
Suffice to say, protecting content should always be the first priority in every company’s Data Security Plan.
But you may be thinking, “I’m only a small or medium business owner with a limited budget, what can I do?”
If you’re not sure about the right steps to take … speak to a professional Managed IT Services company who can assist you in preventing attacks and security breaches.
You will find that by comparing the costs of implementing safeguards to the costs of an attack, the monetary benefits of the former outweigh the latter; especially now you’ve discovered that data breaches can occur in the most simplistic of ways.
For example, Nortec IT offers affordable solutions to small or medium sized business owners who are struggling to manage an internal IT staff with:
- Increased knowledge: Nortec IT are in the business of technology. With trained staff who are able to prevent security breaches and spot any activity that could be perceived as a threat, we have the expertise to stop threats and prevent the loss of sensitive and private information that can lead to costly recovery measures.
- Being less expensive than in-house IT: by paying a flat monthly fee for security and/or other services, it is actually more cost effective than paying internal IT staff or outsourcing based on an incident. Just ask us how!
- An understanding that being proactive is better than reactive: The benefit of having a Managed IT Services company in your corner means your systems are managed properly. Rather than waiting for something bad to happen and then reacting, you’ll rest easier knowing that you’re doing something proactive to protect your interests.
Small to medium size companies are what keep this country moving. Unfortunately, for many of these business owners, budgetary needs force them to make cuts that mammoth corporations do not have to consider. These budget cuts can often result in reduced security and sub-par IT services that, in the long run, end up costing the company even more money.
It’s important to remember … reacting to and recovery from a security breach or attack always costs more after it has happened than what it would have cost to prevent it.
So take a positive step in protecting your livelihood!
Your business can only benefit from the Managed IT Services provided by Nortec. We understand that not all businesses are the same and can provide services to suit any budget – alleviating your fear and the unnecessary costs of recovering from a data breach.