Costs of Data Breaches Up 23% from Last Year

A new report from the Ponemon Institute, an organization that publishes the annual “Global Report on the Cost of Cyber Crime,” recently announced that the cost of a data breach has jumped 23% from last year. Here’s what your small to medium sized business needs to know about being prepared in case of a data breach. The Data Breach by the Numbers The report revealed that a data breach will cost a large company about $640,000. This price tag includes hefty costs, such as business disruption, information loss, and detection. The report also revealed that it takes a company an average of 31 days to recover, yet experts advise that the time to remediate from a breach should only be less than one week. Interestingly, small organizations have a higher per-capita cost than large organizations. So, what can your business do to be more prepared? Have a Data Breach Incident Response Plan An Incident Response is an organized approach to responding to and managing the aftermath of a security breach or attack. The goal of such a plan is to limit damage and reduce recovery time and costs. An Incident Recovery plan should include a clear-cut definition of what your company constitutes as an incident and a subsequent step-by-step process that should be followed carefully after an incident occurs. Consider Hiring an Information Security Firm If you contact an Information Security firm after a data breach occurs, your organization will have to pay more money and wait longer to recover. You may not be prepared to remediate and respond in time. Knowing who to call helps your organization avoid...

Cyber Security Awareness

Did you know October is Cyber Security Awareness month?  This tradition was established ten years ago in the United States by the Department of Homeland Security in cooperation with the National Cyber Security Alliance and the Multi-State Information Sharing and Analysis Center.  This is a great opportunity for the public and private sectors to establish  secure and vigilant infrastructure and to protect IT Assets from Cyber Security Threats. This initiative places emphasis on the following areas of Cyber Security throughout the month: Mobile Security The importance of cyber security in a mobile setting is highly important, no matter where you are or what device you are using.  Business owners should take time to evaluate Mobile Security Policies including Bring Your Own Device (BYOD), Acceptable Use Policies for access to corporate systems and their data from a mobile device.  Mobile data protection including Antivirus, Anti Malware and Mobile Device Management to track, monitor, protect and enforce IT security policy on a Mobile Device. Cyber Security Workforce Cyber Security in the workforce highlights the importance of fostering the next generation of workers through education and training.  Cyber attack can come from anywhere in the world, at any time.  As a result, the Cybersecurity workforce is on the defense against elusive Cyber Criminals.  Having a well staffed, well trained Cybersecurity workforce is critical to the fight against Cyber Crime. Cyber Crime Cyber Crime prevention focuses on national and local efforts to prevent traditional crimes like theft, fraud, and abuse that can also take place online.  Many of these attacks go unnoticed and unreported.  Malicious software or Malware may be downloaded and undetected.  Phishing schemes...
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