Are You Prepared For a Cyber-attack And Its Costs?
Posted by Len Diana on Tue, Oct 25, 2011 @ 10:05 AM
Are you prepared for a cyber-attack and its costs?
I saw this article yesterday on how the US government is making it easier for small businesses to protect themselves against cyber criminals. Here’s the link: http://www.cnbc.com/id/45019786
Statistic from the article that should make you think a bit about your business:
- 40% of all targeted attacks are directed at businesses with less than 500 employees
- Only 52% of small businesses had a BASIC cyber security strategy or plan
- 85% of owners said they were safe but 77% had no formal written internet security plan and 49% didn’t have an informal policy
- Downtime can cost some firms $12,500/day
- The average annual cost of a cyber attack is $188,242 for small & medium businesses
The Small Business Cyber planner will allow business owners to create a cyber security plan by answering basic questions about their company and its online presence. It’s data that these criminals want and it’s not just credit card information. According to the article, 25% of small businesses have their own intellectual property like patents and design documents. “Not to consider cyber security is a little bit like leaving your money around on the table and thinking that that’s not going to be a problem,” said Michael Chertoff, former Homeland Security Secretary.
Interestingly, the Senate is considering a bill that imitates Massachusetts’ own WISP law(Written Information Security Plan). A bill being drafted by Senate Democratic leader Harry Reid would require companies to notify consumers when breaches put personal data at risk and ensure that minimum standards are met in monitoring for possible attacks.
Go to our WISP page for more information.
