You want to be able to better protect your business, your employees, and your customers when you’re attacked. In terms of key results, the estimated average cost of cyberattacks over the last 12 months is £4,200. However, within the group of medium-sized and large companies, this figure rises to £19,400. Cybercrime is increasing rapidly and companies are increasingly under attack.
Given the nature of cybercrime and the difficulty of detecting it, it is difficult to understand the direct and indirect costs of many security breaches. This does not mean that the reputational damage of even a small data breach or other security event is not great. If anything, consumers expect increasingly sophisticated cybersecurity measures over time. Attackers are constantly attempting a variety of cyber attacks on their targets with the determination that one of them would lead to a security breach. Therefore, security breaches also underscore another important part of a comprehensive cybersecurity strategy.
Many of us have heard of the scams of British Airways, Target and Equifax, which resulted in heavy fines and made customers doubt their trust in the companies. It’s no wonder that companies start with the intention of making PCI compliance profits. However, when a business is shut down, business owners have to worry about sudden losses. In some cases, when a business owner takes out a loan from a financial institution, they need to repay it on time.
Don’t deal with sensitive data that requires immediate updating, but in today’s world where cybersecurity is becoming increasingly important, it’s no longer recommended. Use these links to find all the information you need to create cybersecurity policies and practices for your business. From setting up strong passwords to protecting your multifunction printers, these resources and tools give you the guidance you need to get started. Cybersecurity is necessary to run your business efficiently, but it’s also critical to protecting your customers’ information. Following IT best practices goes beyond using the latest technology in your organization.
No matter where you go, you’ll eventually come across business owners investing in the cybersecurity space. Not to mention that with ubiquitous ransomware and phishing attacks, it’s difficult to maintain the security of corporate data. Even before it’s necessary, Chubb helps companies proactively defend themselves against cyberattacks, rather than sitting back and cleaning up after the fact. Cybersecurity is important because it protects all categories of data from theft and damage. This includes sensitive data, personally identifiable information, protected health information, personal information, intellectual property, government and industry data, and information systems. Without a cybersecurity program, your business can’t defend itself against privacy breach campaigns, making it an irresistible target for cybercriminals.