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Data Breaches – The Rising Threat

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Data is one of the most valued assets of any business and yet breaches are increasing at an alarming rate, with threats often closer to home than employers might think. This, coupled with an underestimation of breach cost and the remedies available, can spell disaster for companies of all sizes.

The scope of IT strategies and policies within companies, to guard against data theft, misuse of systems, and human error, which are at the root of the majority of data vulnerabilities,  needs to be widened to become part of the business plan; an integral core element of business success and in many cases, survival.

Not protecting your business against cyber criminals and error-prone employees is the same as putting your most treasured assets on the pavement in the morning, and expecting them to be there at the end of the day…

A Rising Threat

Surely, we are winning the war against cybercrime with all the cutting-edge technology, you may ask? The reality is far bleaker and businesses need to wake up to the rising threat of data breaches.

As technology advances, so too do the number of vulnerabilities and the complexity of threats.In 2014, data theft was the highest it has ever been before with over 740 million cases.

According to the Verizon Data Breach Investigation Report 2015, internal threats alone rose over 200 percent between 2011 and 2014.

The sad truth is that whilst the landscape of cyber crime is vast, the Top 10 vulnerabilities and exploits, making up to 97% of compromises, have remedies that are readily available!

Data Breach Damage Costs

Data theft and leakage can lead to complex and expensive compliance and liability issues. While performance and productivity levels are stalled or hindered, the blow to corporate image and reputation can be astronomical, and in many cases fatal.

The average cost of each data breach record is $145 according to the Ponemon Institute, setting some companies back millions of dollars.

Quite a big amount to pay for an easily avoidable cost…

Size Doesn’t Matter

Big organization cases involving massive data breaches involving personally identifiable information (PII) could lead SMBs down a yellow brick road to believing only big businesses need to pull up the ramparts with a solid data protection plan, but not so.

Cyber-attacks do not only target the big players but are pointing their aim at SMBs with increasing force. This makes perfect sense – With larger companies putting up defences criminals are opting to go after easier prey – namely companies who aren’t yet  investing resources to protect themselves…

Are you a sitting duck?

Digital Endpoint™ created KnowIT, a Cloud Based Employee Monitoring Software to provide companies with critical information regarding the digital behavior of their employees across Mobile Devices, Macs & PCs.

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