Wipfli Alerts & Updates: Hackers Now Targeting More Small Businesses
August 15, 2011
The bad guys have changed their game: Smaller companies are now the new preferred target for cyber crimes.
Verizon and the U.S. Secret Service reported their investigations of attacks on small companies increased by 63% in just one year. Visa estimates that 95% of the credit card security breaches it uncovers come from its smallest business customers.*
No small company is immune, and any company that keeps credit card information is now under greater threat—newsstands and clothing retailers, body shops and manufacturers, salons and spas, pizza and burger joints.
Recovery is costly. Remediation, lost revenue, and productivity can often be insurmountable. One recent survey found the average cost to small, victimized businesses was $188,242**. Even lesser losses of four to five figures can be enough to cripple a small business.
But there’s good news: Most breaches are avoidable by simply following the fundamentals of data management and security. Read The Top 10 Hacker-Defense Strategies for Small Businesses.
For help shoring up your digital data against cyber attacks, contact Paul Johnson or your Wipfli relationship executive.
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*The Wall Street Journal, July 21, 2011.
**2010 Symantec survey.