SMBs face costs of up to $2.5 million after a data breach

There is no shortage of cyber security experts who evaluate large scale attacks on organizations.

Regardless of their size, each entity is at risk from IT attacks due to supply chain security barriers, phishing scams, internal attacks and security weaknesses. Its own network.

However, SMEs are promising and attractive prospects for cyber criminals. These organizations often have low cyber security budgets and can not afford to hire or hire a security officer (CSO) or internal security team that can perform quick response actions.

I heard that security is stronger than a weak link. Often it is an employee to fill this niche, but in a global threat situation, SMEs also become a foothold for attacks against large companies.

According to the Cisco Small Business Cyber ​​security Report released on Wednesday, 53% of medium-sized businesses suffered data breach.

Restoring from these attacks can be costly and expensive. Third-party cyber forensic teams are frequently hired, regulators need to be alerted, need to impose fines, staff training may be necessary, victims' organization also has reputation terms You can pay. Future business outlook.

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This report included 1816 respondents from 26 countries and was created based on the results of the 2018 Security Capability Baseline Study, with 29% of small and medium-sized enterprises reporting less than $ 100,000 You will pay.

However, 20% of the surveyed people say that the same case costs between 1 million and 2,499,999 dollars.

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In total, 40% of small and medium enterprises experience an average of more than 8 hours of system downtime due to data breach. It is a similar period for large enterprises.

However, according to Cisco senior manager, large companies tend to be more elastic than small businesses after the attack.

The central system of SMEs is more likely to be interconnected and interrelated, as SMEs do not necessarily need more than one.

Hope you like the news SMBs face costs of up to $2.5 million after a data breach. Stay Tuned For More Updates 🙂

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