Cybersecurity and Regulations

Maintaining a program is essential.
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.

Data Breaches & Cybersecurity

The statistics below highlight the critical need for policies and solutions to be in place to support you cybersecurity hygiene.
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
69
DAYS TO
CONTAIN A BREACH
cyberattacks infographic
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
close-ratio60%
close-ratio48%

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.