What type of data do you collect and store about customers, employees, and businesses? Do you rely on an online presence and use e-commerce? Do you store data on cloud storage? Or have employees who use their personal devices for work? These are only a few examples of losses that can occur with businesses today.
Cyber risks are relatively new, but quickly growing to be a substantial exposure to all businesses, big and small. The possibility of cyber liability lawsuits is a reality that every business owner should consider, especially small business owners. Small businesses feel the effects of cyber attacks stronger due to limited resources. Thus, are more vulnerable.
The negative effects and risks include:
- Identity theft & personal information of you and your clients released (credit card numbers, passwords, address, email address, social insurance number, etc.)
- The significant loss of time and money to resolve the situation
- The loss of trust and credibility with your stakeholders.
- Loss of intellectual property
of businesses affected say they've lost customers due to a privacy breach.
In 60% of cases, attackers are able to compromise an organization within minutes
of users open emails and click on phishing links within the 1st hour