COST OF A CYBER ATTACK
A cyberattack can have a devastating impact on small organizations, both financially and reputational. According to the IBM Cost of a Data Breach Report (2021) the cost of a data breach is an average of $161 per affected individual.
The costs of a cyberattack can include:
Incident Response: This includes the cost of hiring help to investigate and remediate the attack.
Legal and Compliance: You may need to hire a law firm to provide legal counsel and to help navigate compliance issues arising from a cyberattack.
Public Relations: The cost of managing your organization's reputation after a cyberattack can be significant. You may need to hire consultants to handle media inquiries and communicate with stakeholders.
Notification and Credit Monitoring: Organizations are required by law to notify affected individuals of a data breach. The cost of notification can include postage, printing, call center services, and credit monitoring for affected individuals.
Overall, the costs associated with a cyberattack can be significant, and it's crucial your organization approach cybersecurity proactively to reduce the impact of cyberattacks. If you need assistance protecting your organization from cyber criminals, contact us.