If you’re not prepared for a cyberattack, you’re already behind.
The threat today is real, and organizations across the globe are scrambling after attacks leave them without critical business functions and hemorrhaging revenue. The issue is not every organization is taking this seriously – but maybe these 5 startling facts will help you see that a budget for cybersecurity is no longer optional, but vital, in 2019.
Cyber Attacks Went Up 424% in 2018
In the past few years cyberattacks have skyrocketed. Since the Morris Worm first hit networks in 1988, the threat of malicious software affecting computers across the internet has been real for all users. However, in the past few years, the technology available to cybercriminals and their grit has risen exponentially, and today the threats facing consumers and enterprises alike across the web couldn’t have been dreamed of in 1988.
In 2018 we saw a 350% increase in ransomware attacks and a 250% increase in business email compromise attacks – and 2019 is only poised to get worse.
The Cost of an Attack? About $1.7 million
Yes, you heard that correctly – the average cyber-attack carries an overall price tag of around $1.7 million for a business – which is far from petty pocket change for most small-and-medium-sized organizations.
These costs aren’t a single up-front payment either – it’s a culmination of the loss of revenue during downtime, potential ransoms paid if for ransomware, lost customers, and the potential for new hardware if bricked by an attack. Attacks that may not seem that serious or threatening can quickly climb up in costs, leaving unprepared organizations offline and searching for cash to get things back to normal.
Could your organization live through a cyberattack and loss of almost $2 million?
Ransomware Has Its Sight on Business
A recent study conducted for 2019 found an alarming trend for ransomware attacks – the attackers are shifting their focus from their original targets, consumers, and aiming at enterprises, where attacks went up 12%.
This is an alarming trend because of the grand scale a ransomware attack can have over an enterprise. A single user or consumer may be attacked, have their computer taken down, and be ransomed a few hundred to a few thousand dollars to get things back online – if an entire enterprise network is compromised and the system itself is infected with ransomware, or every computer in the organization infected – the cost of ransom and damage raises tenfold.
Cybercriminals are getting smarter and better at their craft – and the shift of focus for ransomware from consumers to enterprises is an example of how they’re learning how to target more lucrative victims – and poses a serious threat to business leaders across the globe.
Only 11% of Business Are “Cyber Experts”
With the dangers poised every day by cybercrime, you’d think businesses would be jumping at the bit to prepare their systems. Sadly, that’s not true. A recent study found that only 11% of businesses were “Cyber Experts” and fully prepared to deal with the onslaught of a potential high-risk cyber-attack.
The danger of this cyber apathy is real – with so many attacks occurring, and with the potential for catastrophe higher than ever, businesses that don’t prepare are playing with fire. The same report found that 53% of respondents suffered an attack in the last year – which means the odds of an attack are over 50% for organizations, and the “it won’t happen here” defense isn’t going to last.
The Easiest Way to Prevent Attacks Is with A Partner
For large, multinational corporations, allocating a budget to bring in an expert cybersecurity team may be as simple as calling a board meeting – but for the rest of businesses, medium-and-small, across the country, that’s not so easy.
Creating an in-house cybersecurity team isn’t cheap nor is it easy – that’s why we’ve gone ahead and done it for you. Managed IT is one of the most common outsourced services in business, and in 2019, cybersecurity is a top IT prerogative.
Our team at NENS is prepared to take on every cybersecurity threat your organization faces and help you create a comprehensive plan to ensure the safety of your data and employees. Give us a call today to learn more about our services and how we can keep you secure in 2019 and beyond.