Cybercrime Stats Show Major Concerns for Board Members and Business

It’s not just major corporations and enterprises that need to worry about cybercrime and other types of digital threats; even the small businesses and local shops of the world have to contend with cyberattacks that could potentially strike at any moment. Let’s examine some statistics concerning one of the fastest growing threat vectors out there.

The Three Biggest Concerns Related to Cyberattacks

A survey asked board directors to determine their largest threats in relation to cybersecurity. Here are the results:

36% Thought Operations Impact Was the Biggest Concern

People tend to go immediately to the data security issues related to cybercrime, but there is one facet of these attacks that often flies under the radar: how they impact operations. Really, you cannot expect operations to proceed as normal when you’re experiencing any issues with cybersecurity, and in some cases, operations might be completely shut down until the issue is resolved.

Around 60% of small businesses that suffer a cyberattack are shut down permanently within six months of the attack. With a number this shockingly high, it’s no wonder that a third of board members have such a concern.

Another 36% Worried Their Internal Data Would Become Public

Data leaks can be costly, and not just because the data winds up in the hands of a criminal. Your business will experience the pain and frustration of someone else holding your data at ransom, but there are also legal ramifications and fines associated with issues related to cybersecurity that can hamper your business long after operations have been restored.

Furthermore, some organizations value their trade secrets so much that the idea of their data falling into the hands of a competitor is terrifying. These leaks can indeed have a significant impact on any business’ ability to survive and thrive.

34% Considered Their Reputation to Be the Most Important

We are willing to bet that even the most laissez-faire individual would be a bit annoyed if they became a victim of a data breach because they signed up for a service, only to find their identity stolen due to a data breach. If a business cannot protect its customers’ data, this is an unfortunate reality, and personal data holds a lot of value for criminals. This is why companies will invest so many resources into protecting their infrastructures.

Small businesses, however, don’t often have the luxury of such high levels of security, and they could very well succumb to the pains of a cyberattack that exposes customer data to potential threats. This is why you need to take action now to prevent this from happening.

Let Us Handle the Stressful Stuff for You

To protect your business from the dangerous attacks of cybersecurity threats, you’ll want to ensure that you work with BNMC. We’ll work to keep your business safe. Call us today at (978) 482-2020 to learn more.