Malicious Cyber-attacks On Small To Midsize Canadian Business Are On The Rise.
Unfortunately, most business owners don’t consider their client data worthy of theft, ransom or other interference and they underestimate the ramifications of a breach.
Sadly, they are in for a rude and costly awakening when an attack or breach occurs.
What business owners don’t realize is that hackers are often after customer data – billing and email addresses, personal information, health records, education records, and credit card information. This data all has a resale value on the black market. The rates fluctuate based on supply and demand, but according to Bankrate, prices are on the rise.
The chart below from SecureWorks highlights the value of some typical data on the black market in May 2016.
- DDOS attacks for as low as $5 USD an hour
- Banking credentials from 1% to 5% of the account balance
- 300,000 airline points for $90 USD
- American Express Cards for $30 USD
- A physical counterfeit French driver’s license for $238 or German, U.S., Israeli, U.K. and international driver’s licenses for about $173
And, to make things worse, Canadian and European financial data commands a premium price over data from our US counterparts.
Many, if not most, small to mid-sized businesses store these items, especially if they have repeated interactions with their clients. Even companies that do not store this information can be used as pawns in an attack against one of their suppliers or customers, resulting in damage to their own reputation and a significant hit to both their top and bottom line.
The attacks are increasing, and the cost to business owners is continuing to rise. In too many cases – a whopping 60% – the attacks diminish consumer trust, and the company’s reputation is publically tarnished.
Many companies never recover, and some will go out of business. Those that do survive will, at a minimum, take a significant financial hit.
The infographic below has some of the facts.
These are facts, not scare tactics. Cyber criminals are a reality. We have to take proven steps to protect ourselves, and our clients’ data against being compromised.
There are safeguards against cyber-attacks. Things you can and should do to keep your business, and the data it depends on, safe.
Be proactive. Prevention, protection, knowledge and taking early action are key.
Ask us how. Netcetera.ca