Data Breach, The High Cost of Data Breach

The High Cost of Data Breach

It’s time to stop worrying and start preventing cyber hackers and criminals from damaging your business operations and sense of well being. Proactive cyber security is a ‘must’, no longer an afterthought in today’s digital era.

According to the Ponemon Institute’s 12th annual “Cost of Data Breach Study,” the global average for a data breach is $3.62 million, but the average cost of a data breach in the United States has hit an all-time high of $7.35 million.

That is quite a hit, for companies trying to turn a profit. But even more to the point- Without proactive cybersecurity, what happens to your peace of mind? Do you want to always be on edge, by failing to fully understand how your reputation and information and then proactively doing something about it? You don’t have to.

Let’s dig deeper.

On average, 1 out of 4 organizations experience a data breach in the United States and, globally, the average is 28%. Unfortunately, the likelihood of a breach increases every year. Criminals stole two billion records through breaches in the first half of 2017 compared to 721 million records in the last six months of 2016 (a 164% increase).

The main costs of a data breach:

  • Remediation
  • Loss of customers
  • Business disruption
  • Regulatory fines
  • Legal costs
  • Public relations costs
  • Breached client records
  • Direct financial loss
  • Notification costs
  • Credit card reissues, identity repair, and credit monitoring

What is a Data Breach?

A data breach is an attack on a secure database that results in unauthorized access to financial, personal, and other private data.

What data is commonly stolen?

  • Corporate Information
  • Software Source Code
  • Personal Health Information (PHI)
  • Personally Identifiable Information (PII)
  • Credit Care Information
  • Social Security Numbers
  • Trade Secrets and Information

It’s time to ACT

At LA Creative, we have learned over the years that the secret to protecting businesses and their reputations is to follow the same systematic approach we employ when protecting our homes. Why should we treat our businesses any differently than we treat our homes? Our businesses deserve and need the same level of precautions and deterrence.

With proactive and stealth cyber security strategy and implementation, cyber criminals can be stopped from having access to our most vital data and possibly your whole identity.  Here is the LA Creative Cyber security approach and process:

IDENTIFY – First we explore—What data is important to your business? What level of tolerance do you have to lose any (all) of that data? How much downtime is acceptable?

PROTECT – We add traditional Anti -Virus Protections and Firewalls

DETECT –   We add a 24×7 Security Operatons team and advanced endpoint protection

RESPOND – Every solution has 24/7 Security Team and Remediation procedure in place

RECOVER –  Finally, here we create a customized recovery system in case we need it. Do you have a tested business continuity plan (disaster recovery) plan? What department (or data) must be restored first? Do you have a communications plan? With this information, your downtime will be reduced if not eliminated.

SO ARE YOU READY to get proactive cybersecurity that will save you money and peace of mind?  Is there anything more important than your peace of mind and a real sense of security…We think not. Tired of thinking that your business isn’t thriving the way it should be because you are too concerned with security and not sales? Let the experts at LA Creative help. Contact us NOW.

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