Hackers, whether they’re external or internal actors, steal money and information and disrupt operations. Data breaches, viruses, and ransomware can have devastating effects on businesses of all sizes and types, often causing loss of reputation, clients, and revenue that ultimately force the company to close. As computer networks and infrastructures become increasingly complex and more vulnerable to physical and internet-based attacks, cybercrime becomes harder to police — making prevention the best way to stop a cyberattack.
Cybersecurity is the overall protection of computer networks and data from theft and damage. Cybersecurity can be broken down into three components: network security, information (data) security, and end user education and awareness.
Network security is an integration of multiple layers of defense within a network, at the network level. This security allows only authorized users into the network and blocks those with malicious intent from executing any threats or other exploits to your network.
Information security is being responsible for protecting usable data, which encompasses numerous business practices and security tools, each dedicated to protecting sensitive business and user information from unauthorized access, modification, disruption, destruction, and inspection.
User education and awareness will familiarize your employees with your company’s cybersecurity policy. Ongoing cybersecurity training and awareness will provide employees with general knowledge of common security concerns and empower them to make smart decisions about personal and company data.
The financial impact of a data breach can cripple your company’s ability to operate. Data loss could lead to extended downtimes during which clients aren’t being served and may lose trust in your business. Additionally, your company could face steep fines depending on your industry’s compliance requirements.
Cybersecurity isn’t just about protecting your company’s data — it’s also about protecting your business’s other assets such as cash, trade secrets, intellectual property, and your reputation. The average cost of losing a single record is $242. On average, $7.91 million is lost due to data breaches in the United States.*
SMBs often believe that because they have fewer assets, they’re less likely to be targeted by cybercriminals. However, SMBs are easy targets because they have fewer resources — and less protection — than large corporations. A recent study by IBM shows that the possibility of a data breach in the next two years is at 29.6% if you have already been breached in the past.*
Cybercriminals use a variety of methods, such as malware, hacking and social engineering, to gain access to your network. About 51% of the root cause of a data breach is a malicious or criminal attack, and 49% is either old software having holes from not being patched and human error.*
Cybercriminals use malware to exploit network vulnerabilities. More than half of all data breaches feature malware attacks. Ransomware is one of the most common types of malware — it gives hackers the ability to encrypt your company’s data in exchange for a ransom. The ransomware industry grows by 350% each year.*
*Source: IBM Security
WDIT can create and implement a comprehensive cybersecurity strategy and a security awareness training program for your business. We will regularly monitor your network for threats, maintain compliance standards, and implement policies such as multiple security technology and identity management.