The internet is not a secure communication network and it is highly possible a major company will be the target of sophisticated attacks aimed at breaching their private data. Companies should not only consider the likelihood of a data breach attack but also the magnitude. In order to weigh the costs of a data breach compared to the cost of prevention, a company must understand the true costs of a data breach. The hidden costs include: decreased productivity resulting in lost revenue and customers, loss of customer trust and reputational harm, national security risks to a nation’s critical infrastructure, and loss of human life. The costs of a data breach far outweigh the costs of prevention.
If you run an enterprise business, discover how you can invest more in preventative cyber security; schedule a Cyber Health Checkup today.