The good news is, you can protect your business with enterprise cybersecurity solutions. Doing so will lessen the chances of a disastrous cyber attack causing you to go out of business. This article will discuss how to predict cyber attacks and 3 ways cyber attacks can put you out of business.
Being proactive rather than reactive is your solution.
How to predict cyber attacks – Where do you start?
When it comes to how to predict cyber attacks, start by assessing your organization for risks. A captain must know the condition of his ship. Find out exactly where you are left vulnerable to cybercriminals and make sure those vulnerabilities are filled.
By doing so, you will be able to sleep at night knowing you and your customers are safe from malicious cyber attacks.
How can we prevent cyber attacks
Want to know where your business is vulnerable to cybercriminals? IronTech Security provides security and risk assessments to businesses around the country.
The goal of this assessment is to arrive at a quick sense of your strengths and weaknesses and to provide advice as to what improvements you should be considering.
Results are measured against the National Institute of Standards and Technology (NIST) model regarding their cybersecurity for small businesses. This standard is referred to as the NIST CSF and is considered a best practice in the Security Industry
Walk away from your security and risk assessment knowing exactly where your business is left vulnerable to cybercriminals.
Can a cyber attack really put you out of business?
Can a cyber attack put you out of business? Unfortunately, yes. That’s why cybersecurity protection is so critical in the operations of any small to medium-sized business.
According to Verizon’s Data Breach Investigations Report, 43% of breaches impacted small to medium-sized businesses. There is no such thing as being ‘too small’ to be hit with a cyber attack. Small to medium-sized businesses often underestimate their cybersecurity risk leaving them vulnerable to malicious actors.
Cybercriminals hack at scale in hopes of attacking as many victims as possible, not caring who or where they are.
A report by the U.S. National Cyber Security Alliance estimated that 60% of all SMBs fail within six months of a cyberattack and never reopen for business. What cybersecurity protection do you have in place to prevent a catastrophic cyber attack?
Top 3 ways a cyber attack can put your company out of business
1. Cyber attacks can be expensive
Cyber attacks can be extremely expensive, as of Q2 2021, the average ransom payment is $136,576. The global average cost of cybercrime is expected to peak at US $6 trillion annually by the end of 2021, driven by the escalation of ransomware attacks.
Cyber crime costs organizations $2.9 million every minute, and major businesses lose $25 per minute as a result of data breaches, according to RiskIQ research.
Downtime is another costly factor when being hit with a cyber attack. Downtime is the inability to be productive due to a cyber attack. Some examples include being unable to accept payments for days or even weeks, or the inability to access email or files.
Can you imagine not being able to accept payments or use your email for a week? How much damage would a week of being unable to operate do?
3. Loss of reputation
When you’re hit with a cyber attack, your reputation is hit too. If your client or customer data ends up on the dark web, you are going to have some very unhappy customers.
In conclusion – How to predict cyber attacks
Future customers want to do business with someone they know they can trust, you must do everything you can to not only keep your data safe but theirs as well. Hiring a professional who can monitor your data 24/7 and detect risks before they ever happen is the best way to predict and prevent a cyber attack. You can also help your employees with cyber security training.
Contact us today to schedule your Security & Risk Assessment