The World Economic Forum published its annual Global Risks Report. In 2018, the top five most likely risks contained two technological risks—Data Fraud or Theft and Cyber-attacks, placing third and fourth, respectively, behind Extreme Weather Events and Natural Disasters. Data Fraud or Theft and Cyber-attacks continue in the top five this year.
These predictions are not surprising given the exponential increases in malware reports, but the more shocking revelation is the time it takes to identify a data breach. In 2018, Marriott International reported a breach in its Starwood guest reservation database that exposed personal information of maybe 500 million people. It began in 2014 and continued to September 10, 2018.
For small businesses, cyber-attacks prove catastrophic due to the cost of recovery efforts and loss of business. Investing in a proactive approach will save time and guard your organization’s business reputation. In the end, proactive prevention is much kinder to the budget than reactive cleanup. Please contact us for a no-cost security review.
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