Cyber Criminals Cost the Global Economy Millions Every Year. If You’re Not Careful, They Could Attack Your Business Next.
Cyber-crime has been on the rise since we made the first websites back in the 1990s. As soon as we started putting important information online, hackers started to learn how to retrieve that information. As if our vital information were some sort of competition, they will fight their hardest to get to the good stuff. Information can be bought and sold on Internet for high prices. The savvy business person will therefore make sure none of that illegally obtained information comes from their business.
Worse than the buying and selling of personal information is the scandal that a data breach causes for your business. Once your reputation has been damaged by a data breach, it is almost irreparable. Think about Cambridge Analytica and how they have never reached the power they had before the scandal.
If you don’t want this to happen to your business, then you should start listening to what we have to say. Staying safe online is of vital importance to your business. If you don’t want to risk a data breach, we suggest you buckle up and follow our advice.
How Much Data Scandals Cost Businesses Each Year?
Data scandals follow the same pattern of the Scandal Effect, which sees an escalation of detrimental reputation until it destroys the business. Computing giant IBM put out a 2021 report recently which detailed the average cost of data breaches per business. This is their 17th such report, making them the frontrunner in this kind of information retrieval.
The report found that data breaches had cost more in the last year than they had in each of the previous 17 years. It found that remote working due to covid pushed that price up. This is understandable and could be attributed to the risks of using a home computer to do your business work. As employers, we have little way to ensure the safety of data handled on computers outside of office buildings, which is all the more reason why we should be careful.
IBM found that data breach costs rose from 3.86 million USD to 4.24 million USD in 2021.
How to Protect Your Business from A Data Breach?
There are a few things you can do to protect your business. Here are our recommendations on securing your data.
1 – Hire a Cyber Security Expert
If you have been thinking of making a career change to cyber security, there has never been a better time. The rise in home working has increased the rise in data scandals, meaning more businesses need cyber security professionals than ever before. You can have your pick of roles in Cyber Security over on the Hays website.
2 – Keep Software Updated
Both hardware and software improve over time. You can bet money that the hackers trying to break into your systems have state of the art technology. If you don’t match them in what they do, you are at a disadvantage. Keep tech and software up to date.
3 – Install Cyber Security Systems
Coming up with a full strategy for cyber-security in your organisation prepares you for the best and the worst. Installing cyber security software systems will give you the best chance at avoiding a data breach of your own.