December 17, 2018
Courtesy of Moore Colson
Are data breaches the new normal? It certainly seems that the frequency and severity of cyberattacks have increased in the past few years. Just this year, Facebook, Marriott, and Google+ had their data compromised – and with that data breach comes a hefty cost – not only monetary – but also to an organization’s brand and overall consumer trust.
IBM’s 13th annual Cost of a Data Breach study, the industry’s gold-standard benchmark research independently conducted by Ponemon Institute, reports the global average cost of a data breach is now $3.86 million, up 6.4 percent over the previous year. The average cost for each lost or stolen record containing sensitive and confidential information is now $148, which has increased by 4.8 percent year over year.
This is a good time to think about your own business. How secure is your data? What security policies do you have in place to prevent data leaks? Do you know all of the endpoints on your company’s network? These are some – but certainly not all – of the questions you should ask yourself.
You should consider working with an expert you trust to provide guidance in this complex and shifting environment. What you may not know is that Moore Colson, your trusted advisor, can help you ensure your cybersecurity program has been adequately implemented to address and minimize your organization’s cyber risks.
Our Risk Advisory and Compliance Services team can help you achieve the following:
*Identify the factors contributing to your company’s overall cyber risk.
*Assess your company’s cybersecurity risk and preparedness.
*Evaluate whether your company’s cybersecurity preparedness is aligned with its risks.
*Determine risk management practices and controls that are needed or need enhancement, in addition to actions that should be taken to achieve the desired state.
*Outline risk management strategies.