Did you know that RM67.6 million was lost to cybercrimes in Q1 2019? Cyber criminals are aggressive and the disastrous tactics employed can often leave business owners in a state of distressed.
How much damage can a cyberattack impose to small and medium-sized businesses?
- Direct: Financial losses caused by cybersecurity incident – this includes loss of productivity, fines, remediation cost, etc;
- Indirect: The opportunity cost to the organization thanks to damaged reputation and loss of customers
- Induced: The impact of cyber breach to the broader ecosystem, such as the decrease in consumer spending
While small and medium-sized businesses key decision makers may feel they are less at risk, cyber criminals turn to larger businesses to make a strike. This is not true as they are equally vulnerable. Where the are opportunties, cyber criminals will seek to exploit.
Small and medium-sized businesses need to fortify their defenses against cyberthreats as any unwanted incidents can result in regrettable outcomes. Get the current state of security for businesses and ideas on how to execute good cybersecurity measures with a FREE e-book.