Cyber threats update August 2019

 

Cyber threats come in all shapes and sizes however they all have something in common, they can cause damage to you and your business. Neutralizing these threats are important. This week we are going to review the latest IBM Security study. This study covers the latest malicious attacks and the consequences of a data breach.

According to (IBM, James Anderson, 2019) the average data breach cost has risen by 14% as a result of the harder resolution process and new regulations. This can be seen by examining the loss of surveyed SMBs. The latest data shows that SMBs are currently losing $2.5 million dollars per attack on average. Furthermore, American companies on average are losing more than double at $8.4 million dollars per attack. Analyzing this it can be concluded that there is a huge threat.

Nevertheless, there is still a way to protect your business. By using data encryption software and secure deletion software for unwanted files, the chance of your company losing data decreases dramatically. This can be proven by companies with data safeguard measures, the data shows that these companies lose on average half of the global cost per attack, with an average breach cycle of about 9 months. This is a massive improvement compared to not having vital data security.

While the study focused on US companies the threat level to Australia business would be similar. Contact About Networks for a review of your IT security and increase your preparedness.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

https://www.channelfutures.com/author/james-anderson (2019). IBM Security Data Breach Study: Malicious Attacks Increase. [online] Channel Futures. Available at: https://www.channelfutures.com/mssp-insider/ibm-security-data-breach-study-malicious-attacks-increase?NL=NL-003&Issue=NL-003_20190725_NL-003_364&sfvc4enews=42&cl=article_1&utm_rid=CPNET000016870790&utm_campaign=17059&utm_medium=email&elq2=f7b8541969b74245a86dea13dd75eb40 [Accessed 28 Jul. 2019].

 

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