Data Security is serious business and can shut the doors to companies that are not properly prepared against cyber attacks. Each year more and more companies are hacked, phished and breached causing hundreds of thousands if not millions of dollars in notification costs, litigation and possible regulatory fines and penalties. The cost for just one breached record in 2014 was $217 with the average cost of lost business reaching $1.57 million dollars.* The highest cost for lost business was recorded to be $4.59 million in 2009.* The average number of records stolen per breach in the U.S. is approximately 28,070.* Now imagine the records that you keep on file and believed secure have been heisted by a cyber criminal. What would you do? Are you prepared?
On average, a malicious attack can take 256 days to identify.* Nothing is foolproof for certain, but there are steps you can take to tighten your security and put processes in place that will help mitigate such events should they happen to you.
Here are 10 tips to help lower your risk and attraction to cyber thieves:
- Have a vulnerability assessment performed to find internal and external gaps
- Have a written and tested Breach Incident Response Plan
- Employ anti-virus software on ALL devices/update daily
- Employ intrusion protection and detection software-update and test regularly
- Have a tested Disaster Recovery Plan in place
- Encrypt ALL hard drives, servers, back-up tapes and portable devices
- Have scans and filters for ALL email attachments
- Limit remote access to your systems
- Employ two-factor authentication
- Employ and enforce continuous employee training for those who collect, use, transmit and dispose of confidential data
To download a copy of the FBinsure Cyber & Privacy Risk Profile sheet and other useful resources, visit our Cyber Liability page.
*Source: Ponemon Institute, LLC – “2015 Cost of Data Breach Study: Global Analysis”