A Publication of WTVP

Can your business identify a security breach within 24 hours?

Getting hacked is a nightmare scenario that is, unfortunately, becoming more and more commonplace. Furthermore, many small businesses are ill-equipped to deal with such attacks—and the longer a breach goes undetected, the more harm the attacker can do and the costlier the breach can become. Considering that the average cost of a data breach is $3.86 million (according to a 2018 study by IBM Security and Ponemon Institute), such a breach can be devastating and must be caught immediately.

Don’t fall into the line of thinking that you aren’t big enough to be targeted. An alarming 60 percent of all cyber-attacks are centered on small businesses. And with fewer resources to help cushion the blow, setting up a proper line of defense is critical to avoid detrimental damage to your brand—or perhaps even going out of business.

By following the points outlined below, you’ll be prepared to handle a cyber threat quickly, effectively and perhaps most importantly, proactively. Dealing with incidents “as they come,” on the other hand, will leave you unable to effectively deal with a breach before it causes irreparable damage.

In the unfortunate event that your small business data does get hacked, your first step should be to notify your bank or processing partner. Acting quickly may be the difference between surviving and shutting your doors. iBi