Cyber criminals are becoming more advanced and malicious, which means that businesses are at an increasing larger risk of being attacked. Out of 400 cyber security decision-makers surveyed 45% reported a serious cyber security breach within the last 12 months.
Companies are most concerned about malware, viruses and worms, with 50% reporting these as their greatest security concern. However data tampering is another huge concern for businesses coming in at 48%.
Cyber attacks cost businesses time, money and often even their reputation. In fact, 20% of businesses who experienced a data breach reported a significant outage as a result of the breach. Money is another huge issue for companies, with 19% reporting financial loss as a result of the incident, and 17% reporting legal consequences. Nearly 18% of businesses even reported damage to their reputation as a result of a data breach.
After an attack, 21% increased their security budget and appointed a discrete security function. Of the 400 surveyed, 53% of businesses currently have a well established backup plan and 51% have a fully implemented protection plan.
It can be difficult for organization to keep up with the latest security systems, however it is well worth the effort if it means reducing your business’s risk for attack. Hackers are targeting businesses randomly and at a much higher rate than previously seen. This means that every organization, big or small, is at risk. Taking the right security measures could be the deciding factor in your company’s fate.