Small businesses seem to be an easy target for the hackers. Not much long ago, hackers used to target the large scale companies as they thought that these companies can reward them big. But, the companies having well established businesses have become well aware of the fact that they have been targeted by the hackers and now they have some strong security barriers to tackle the mal attacks from the cyber criminals. Hackers are also clever enough to turn their faces to small organizations having less than 250 employees. Hackers actually made the right decision as the small companies do not pay much of the attention towards data security.
Within the small span of time of one year, the rate of targeting small businesses become twice. In 2011, small organizations contribute merely 18 percent in gross data breach, but, till the first quarter of 2012, the percentage jumped to 36 percent. There was an attack on the database of a minute organization in every 58 days. These companies use the orthodox methods to secure data by using anti malware software, firewall apps and some other measures. Investing a little in software that can act as File Lock and cyber insurance is also an idea to be considered.
Small scale companies should go for cyber insurance, but, the majority of them have a perception that cyber insurance does not worth a go. Actually, they underestimate the threat of data breach and its outcomes. In a research conducted by Ponemon institute, two years back, the total cost of a data breach was $5.5 million in the US. This is not it yet, as a fair estimate, the company might have to spend almost $200 to $300 for consultation fee and for other procedures. The cost per record breach that year was $194; information leakage can be really horrifying.
These data breaches are extremely expansive can make you suffer loss for days, weeks, months or even years. One of the drawbacks of these data breaches is that, the company not only loses sensitive data that hackers exploit against the company, it also stains the goodwill of that company. The business loses the trust of its customer if any case of data breach is occurred. Customers are very much concern about their security, when a record about costumer is leaked, it may contain social security number, contact number, address and other similar data that can push them in some kind of trouble.
An incident of information leakage of costumers may end in more than 120,000 cases of fraud. In terms of money, a customer whose records have been compromised may suffer a loss of $3,300. There are some losses further than the loss of money such as loss of time as the person would likely to spend almost 20 hours and $770 on an average on a lawyer to get himself out of trouble. It is anticipated by the data security experts that the way this trend of data breach is increasing, it is likely to have a rise of about 10 percent within the next three years.
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