By Amos Aesoph, Xigent CISO
Cybersecurity is a concern that has become increasingly important for business leaders and IT professionals. Organizations must pay close attention as their digital landscape evolves and cyberattacks escalate.
Understanding the potential cyberattack costs to your organization is vital. A recent report by KnowBe4 highlights this issue, indicating an alarming estimation of 3x growth in cyber insurance rates over the next four years.
As shocking as the tripling costs of cybercrime are, it should act as a wake-up call for businesses of every size. The impact of a single cyberattack could have a crippling effect on day-to-day business, cause significant monetary losses, and negatively impact the reputation of your organization.
To help combat cyberattacks and their corresponding costs, it is important for businesses to:
Understanding the costs of a cyberattack and preparing accordingly protects your employees, clients, and organization. The security of your business is only as strong as its weakest link. Plan ahead, understand potential cyberattack costs, and stay secure.