How Much Do You Stand to Lose From a Cyber Security Breach?

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Have you ever waited until the last minute to get something done? While that may work when buying gourmet ingredients for your dinner party, it’s not the best practice when you’re running a business. Especially when we’re talking about cyber security.

Recently, we’ve been so preoccupied with Hurricane Irma, that a lot of us didn’t even find out about Equifax’s hacking until much later from when it happened. And we’re not talking about someone applying for a credit card under your name if you were one of the victims. A hacker could potentially steal your entire identity. This is why, no matter what is going on in your life, you should always prioritize cyber security. And this is not a once in a blue moon occurrence. This summer alone, we had Ransoware and Wannacry, impacting some of the world’s most secure networks.

The threat is so significant, that in order to keep up with the current cyber crime rates, the number of cyber security experts would have to triple in the next four years. Yes, Houston; we definitely have a problem.

It’s a costly business

In addition to the panic and lost data, keep in mind the costs of these security breaches. It is estimated that by 2019, businesses will spend 2 trillion dollars trying to keep their information safe from hackers. And that’s just the tip of the iceberg. You may lose clients, expose yourself to legal liability, and if you own a small business, may even have to close it down after costs, any regulatory penalties, and lawsuits. This past June, Anthem settled a cyber security breach lawsuit for $115 million. That had to hurt.

Cybercrime is here to stay. Don’t gamble with your business. Source 1 Solutions can help you ensure your business security. Our entire staff is comprised of sophisticated IT engineers, and we assist clients in over 90 countries. That’s how good we are.  Give us a call.

 


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