Have you ever been hacked? Do you remember what a pain it was to cancel your credit card, order a new one, and then re-set up all of your auto pay accounts?
Imagine what it is like for a small business to experience a cyber attack that involves theft of private client information.
It is generally the responsibility of the business owner to notify all affected consumers of a breach of data. While consumers might be grateful for the notification, there is a chance that clients will be lost. There is also a chance that the company reputation is permanently damaged. The best protection is to arm yourself with knowledge and create a plan.
Facts about Cyber Crime
- 95% of breached records come from 3 industries: government, retail and technology.
- There is a hacker every 39 seconds.
- Since COVID-19, the US FBI has reported a 300% increase in reported cyber crimes.
- More than77% of organizations have no cyber security plan.
- Share prices of a company fall 7.27% on average after a cyber breach.
Check with your insurance company to add cyber liability insurance to your plan! Set up training with your employees to make sure they know how to handle phishing scams. Review and make changes to your plan as necessary.