Reduce Risk Around Regulatory Compliance

Implementing a robust cybersecurity program can help risk management officers ensure peace of mind for the C-suite.

There is no magic wand or silver bullet when it comes to cybersecurity and regulatory compliance. It requires effort, focus and most importantly, people to manage it all. Unfortunately, the human being is the weakest element in the cybersecurity ecosystem. It is critical to complement your cybersecurity technology infrastructure with engaged and well educated people to maximize the effectiveness of your cybersecurity program. Implementing a formal cybersecurity program can have a significant impact on your risk profile, exposure to possible fines for non-compliance, the cost of a data breach, the ability to respond to an incident and other high impact issues for your business.

1,579

DATA BREACHES
IN THE U.S.

COST OF A
DATA BREACH

$3.6M

In 2017, there were 1,579 data breaches in the U.S. Financial services firms are 300 times more likely to fall victim than non-financial businesses.

In average, it took companies 197 days to identify a data breach and 69 days to contain it.

197

DAYS TO

IDENTIFY A BREACH

DAYS TO

CONTAIN A BREACH

61%
55%

CYBER ATTACKS
IN 2016 & 2017

According to the Ponemon Institute, the percentage of small businesses that have experienced a cyberattack was up from 55% in 2016 to 61% in 2017.

According to the U.S. Securities and Exchange Commission, six out of ten small businesses close six months after a cyberattack.

In a study by Accenture in 2017, 48% of the companies polled indicated that their
cybersecurity programs have either not been planned or deployed or only partially deployed.

OF SMALL BUSINESSES
WILL CLOSE AFTER
A CYBERATTACK

60%

48%

OF COMPANIES
HAVEN’T PLANNED
OR DEPLOYED THEIR
CYBERSECURITY PROGRAMS

$148

FOR ONE

RECORD

$350M

FOR

50M

RECORDS

$350,000,000
FOR A BREACH OF
50 MILLION RECORDS

On average, each record costs $148, and a breach of one million records cost $40M while a breach of fifty million records costs $350M.

Average Cost
of Cybercrime
by the Year 2021

$6 TRILLION

Industry experts Cybersecurity Ventures have predicted
that cybercrime will cost $6 trillion a year by 2021.