A cyber attack can hurt your bottom line for two years after the incident occurs…
It’s easy to understand the front end costs of a cyber attack. They may include the credit monitoring costs covered for consumers, the payout after a ransomware attack, or even the downtime associated with getting your systems back up and running. But what about the dip in sales because you lost almost 20% of your consumer base? Or what about the time it takes to recreate the lost information? How about the reputational damage your brand has to recover from?
The behind-the-scenes impact is far greater than the upfront costs many are able to easily identify. Research from CSO suggests the hidden costs total 90% of the overall costs of a cyber attack.
This means that executives who only foresee the upfront costs of a cyber attack, are underestimating the financial impact of the incident by 90%. Perhaps this accounts for why security infrastructures are lacking.
It is time to be proactive. Too often individuals have the “it won’t happen to me” or “there’s nothing more I can do” mentality. They couldn’t be more wrong. If you aren’t being proactive and doing everything you can to prevent a cyber attack, it isn’t if it happens to you, it’s when.
PC Matic Pro encourages users to take the following proactive measures:
- Backup your data at least daily.
- Ensure your operating system and applications are up to date.
- Implement application whitelisting for your security protection.
- Train employees on modern cyber security threats.
If you aren’t being proactive and properly protecting your company’s data, than you’re merely a sitting duck. Nobody likes a sitting duck…except the hunter of course.