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DIG this week's security tip

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.

Cost of a Cyber Attack

The costs of a cyberattack can include:

  1. Incident Response: This includes the cost of hiring help to investigate and remediate the attack.

  2. 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.

  3. 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.

  4. 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.


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