When you hear about cyber security in New York or read about it in the news headlines, it can almost seem like some kind of buzzword or hyped-up phenomenon. If you don’t have first-hand experience with a cyberattack and haven’t followed the details, it’s easy to be unconvinced. Businesses today face incredible risk through their IT systems and network which support their very existence. In this article, you can expect a brief summary of the current state of cyberattacks in the industry, as well as some information on what you can do about it.
The Cost of a Cyberattack
Hackers are targeting businesses with a growing arsenal of tool and weapons. They use everything from malware software such as the infamous ransomware, social engineering schemes, and other targeted attacks. So, what is the cost of a data breach? There are various unquantifiable costs that an attacked business might incur include loss of client confidence and reputation. There are also some very tangible costs that a business may face such as legal costs and the costs of notifying affected parties.
State of the Industry
No industry has been left unaffected by cyberattacks. Some industries are more likely to be affected because of the type of client information they carry. Hackers are particularly interested in financial records, social security numbers, as well as any other valuable information they can exploit. Naturally, the industries that are most affected include the financial sector which has witnessed three times as many breaches in the last five years. In fact, for 2015, the likelihood of this sector facing an attack compared with other industries was 65 times! A surprising part of this is that more than half of these incidents were connected to some kind of employee error.
Other industries that should be on high alert include government and health. Based on research findings, it has also been found that many companies have no plan to deal with possible threats, and this was found to be especially true for non-profits. In this day and age, there should be no excuse not to invest in cyber security in New York.
What Can You Do?
If you aren’t dedicating much of your budget to your IT security, your business is at great risk. At Total Technology Solutions, we help companies across the board with cyber security in New York. We can help you identify any risk and provide a wide array of solutions. Get in touch with us to discuss the options.