data security risks and the cost of business continuity (slideshare) tmcs q3 july 2016

Data Security Risks And The

Cost of Business Continuity

The state of data security isn’t

healthy.

The number of security breaches has increased.

The scale and cost has nearly

doubled.

But 59% of businesses still expect more security incidents to occur in the

next year.

So what does this all mean?

?

It means your business operations will need to

change.

Why?

Because the average data security breach

costs:Large Businesses

£1.5mSmall & Medium Size

Businesses

£75k

Loss of business continuitybrings more costs.

Data breaches createdowntime

Downtime means loss ofbusiness continuity

The nature of the breach will determine the length of downtime and ultimately the

business continuity cost.

So let’s imagine theworst case scenarios.

14 breaches a year£3.1m cost per breach Annual cost = £43.4m

Large business

4 breaches a year£311k cost per breach Annual cost = £1.24m

Small business

What do thesecosts consist of?

?

In Kapersky Labs’ global study, they found the

following:SMB Enterprise

Proposition of business incurring

this expense

Typicallosses

Proportion of business incurring this expense

Typicallosses

Professionalservices

Lose businessopportunities

Down time

Total expected typical damage $384K $551K

88% £11K 88% $84K

32% $16K 29% $203K

34% $66K 36% $1.4M

What sort of breaches are causing so much disruption and costly

payouts?

According to Kapersky Lab, the top 3

most expensive security breaches

are:

EmployeeFraud

CyberEspionag

e

ThirdParty

Failure

The ICO found that the most prevalent security incidents for businesses

, from January - March 2016, were insecure web pages being targeted

by hackers. (42%)

However it’s not just IT business costs you should

worry about.

Other big consequences include:

● Damage to company reputation.● Temporary loss of access to

information critical tobusiness continuity.

● Loss of ability to do business.

This isn’t anythingto take lightly.

11% of organisations changed the nature of their business as a result of their

worst breach.

But what if you weren’t aware of your business’ IT security threats?

?

14% of IT management admitted they have never

communicated data security threats to their board.

? ?

?

For an infrastructure that can recover from a data

protection breach, standardisation is

required across 3 main areas of your business...

Staffing Training Systems

But this means you must stretch your IT budget

even further.

These costs are indirect to the recovery, yet 75% of security breaches led to unexpected expenses.

SMBs - $8kLarge business -

$69k

Make sure you….

Educate the workforce around your data protection plan and what everybody is to do in the event of one.

Make sure you….

Provide adequate training on hosted and cloud based systems.

Make sure you….

Choose the right technology for your business and ensure your IT strategy is centric to the wider needs of the business.

Discover how to reduce the downtime and maintain steady output in times of a breach in

our guideData Protection: A Modern Threat to Modern Business