Can You Survive a Cyber Attack?
There is a lot at stake with more cyber attacks targeting businesses and organisations.
As the new Data Breach Notification Legislation, or The Privacy Amendment Act of 2017, takes full effect tomorrow — 22 February 2018, stakeholders have been made more accountable with hefty fines for failure to report a data breach.
It’s worth noting that a widely-publicised data breach can not only lead to significant financial loss, it can devaluate trade names and lead to lost trust and customer relationships, which can be impossible to recover from.
With millions in both financial and non-financial loss at stake, organisations need to take a closer look at their existing systems to ensure they have the means to survive a cyber attack when it happens.
If you’d like more information about how to best protect your business against cyber attacks, or if you’d just like to discuss the topic of cybersecurity in a little more detail, take the next step — contact VITG today.
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Is your business preprared for a Cyber Attack?
- 70% of attacks target SMEs
- 71% of them still admit not being ready to address the attacks
Financial Loss
A$6,600 is lost per attack
Related News
In 2017, a QLD company lost approximately AUD$1.9 million due to a cyber attack that was the result of unauthorised access to sensitive data.
Non-Financial Loss
Financial loss is just as dramatic as loss of reputation from both customers and employees, with both agents becoming untrustworthy with providing any personal information to the company.
Loss Breakdown
- 40% Downtime
- 26% Redoing work
- 24% Inconvenience
- 16% Financial loss
- 15% Data loss
Of those that had lost data, almost two-thirds (63%) had not been able to recover it.
Percentage of hacked companies go out of business after just six months: 60%
