The Hidden Cost of A Cyber Attack

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:

  1. Backup your data at least daily.
  2. Ensure your operating system and applications are up to date.
  3. Implement application whitelisting for your security protection.
  4. 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.

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