Cybersecurity Needs to Be Top Priority
Threat actors have become more prevalent and more sophisticated. As software developers have reacted to evolving threats, cybercriminals have managed to stay one step ahead. You need to take proactive steps to minimize the threats.
The Threat is Growing Rapidly
In just the first nine months of 2019, there were some 7.9 billion records exposed and more than 5,000 reported breaches. They ranged across all sectors of industry:
- 66% Business
- 14% Medical
- 12% Government
- 8% Education
Nobody, it seems, is immune. The threat is real and it’s increasing in frequency. Cyber attacks grew by 33% in 2019. Data loss, as reported by U.S. companies, has increased by 50% since 2016.
Are You Prepared to Face Cyber Threats or Attacks?
A study of 4,000 companies found a major lack of preparedness. 73% of organizations are not prepared to deal with a cyber threat or attack. Another study reported that half of the companies surveyed self-described their security procedures as ineffective.
That’s a particularly frightening statistics when you consider that 76% of U.S. companies came under some form of cyber-attack in the last 12 months.
How Much Does A Cyber Attack Cost Companies?
Just like anything else in life, you get what you pay for. Less expensive security options may save you money at the time of purchase but can cost you down the line when something goes wrong. For big companies, the costs can be astronomical. IBM estimates the average cost of a data breach to large companies if $3.86 billion.
For small businesses, the dollars are less but the impact may be greater. The target of nearly half of all cyber-attacks, it can cost the average small business as much as $200,000 to repair the damage. For many, that means shutting the doors for good.
The Risk Are Greater Than Ever
The risks for organizations are greater than ever. As public attention has grown on privacy and security, the number of lawsuits and class action suits over the exposure of personal or sensitive data have also increased.
New legislation, such as the California Consumer Privacy Act, has put new requirements on data acquisition, storage, and use. It’s just the start. There are more than 25 states that have introduced or filed privacy legislation recently. The penalties for non-compliance with privacy and data security are growing almost daily. Even if you manage to avoid a data breach, many organizations still must comply with regulations, procedures, and audits to prove they are proactively protecting data.
When it comes to security, the risk is simply too high not to deploy robust security solutions and ensure your company is complying with this dizzying array of rules and regulations.
Your Current Security Measures May Not Be Enough
Traditional security infrastructure alone, such as firewalls and web gateways, are becoming increasingly ineffective at detecting and preventing intrusions. We use the cloud more every day and the web of applications, third-party data, and the rise of BYOD (Bring Your Own Device) to work has escalated potential entry points for cybercriminals.
As data and apps migrate to the cloud, it’s opened new portals for access. Remote teams, partner companies, third-party vendors, and contractors get instant access to data to make your business more efficient. However, it’s given new potential targets for threat actors.
Without the proper security infrastructure, your data is at risk from every one of these connections. For example, if a vendor or third-party contractor has its systems breached, you may be at risk through your connection. Even if you have protected your own data, this pipeline may send threats down the line.
You may take proactive steps to safeguard your apps, but what happens when one of your employees accesses company resources on their personal device that’s been breached because of a non-company app they installed?
Secure Your Data with Rea & Associates
When it comes to securing your data, Rea & Associates provides comprehensive cybersecurity services, including a platform of security products to keep your data safe. This includes military-grade encryption for your on-site data and cloud storage, advanced email security to mitigate phishing, and double-layered anti-virus protection.
In addition, a dedicated and expert team of IT security professionals monitor and manage your systems as part of our managed IT solutions.
Rea & Associates can provide your total IT infrastructure and work as your external IT department. We can also work with your internal IT team to augment resources.
Contact the experts at Rea & Associates today and let us show you how we do cybersecurity.
