A report from McAfee found almost 90% of small- and medium-sized business in the US do not use data protection for company and customer information, and less than half secured company email to prevent phishing scams.
According to PwC, the average cost of a firm’s worst security breach is rising significantly. For small businesses, the worst breaches cost between £65,000 and £115,000 on average; for large firms, the damage is between £600,000 and £1.15m.
WASHINGTON and MOUNTAIN VIEW, Calif. – U.S. small business owners or operators have a false sense of cybersecurity as more than three-fourths (77 percent) say their company is safe from cyber threats such as hackers, viruses, malware or a cybersecurity breach, yet 83 percent have no formal cybersecurity plan.
Rob McAdam, CEO of security consultancy Pure Hacking in Australia, said every business could now expect to be targeted by hackers in its lifetime.
“It no longer matters whether you are a major corporation, a not-for-profit, government department or small business in the suburbs, every business is a target for hackers and this is not going to change in our lifetime,” he said.
Forbes wrote When companies like Home Depot, Target, Sony and JPMorgan Chase are successfully attacked, smaller companies and local government agencies have no hope of defending themselves without education and low-cost security resources.