Security breach cost averages $3.8 million
Security breach cost – Cybersecurity threats are on the rise. In 2015 the average cost of a data breach was $3.79 million, and that figure is expected to grow to close to $5 million by the end of this year.
- Cloud Services – danger that they’re bypassing security protocols and systems in the process
- Ransomware – Kits for this software are now readily availalbe. The attack encrypts important files, rendering data inaccessible until you pay the ransom.
- Spear phishing – Phishing attacks are growing more sophisticated all the time, as official-looking messages and websites, or communications that apparently come from trusted sources, are employed to gain access to your systems.
- Known vulnerabilities – Once these are published everyone is exposed
- Internet of Things – As connectivity spreads into every corner of our lives and businesses, it becomes more and more challenging to maintain a clear view of entry points and data flow.
The top 10 drivers of security shortcomings include:
- Insufficient funding for security
- Lack of commitment by senior executive management
- Lack of leadership in the security arena by the CIO
- Belief that the organization will not be targeted
- Lack of internal resources who are “security” experts
- Lack of an effective IT security strategy
- Lack of an action plan on how to implement a solution before an event
- Infrastructure for IT that does not easily lend itself to security implementation including complex and disjointed applications and data
- No central focus with the enterprise that focuses on security
- Lack of a good termination policy for employees and contractors