Cyber protection can be something that is easily overlooked, but doing so can be the result of your downfall. Here is why you need to take this seriously.

The average amount of money a company will lose in response to a data breach is 3.6 million dollars.This statistic shows the importance of cybersecurity in today’s rapidly expanding online world.

The internet has given us a central resource to exchange information. But as with any central resource, the level of importance the internet carries paints a massive target on its back that is often exploited by hackers.

Even the U.S. government had a budget of 19 billion dollars in 2017 to protect themselves from breaches. That amount represented a 35% increase from the previous year.

The purpose of this post is to give you a quick overview of what inadequate cyber protection can cost your business. We will then let you know how our team at Immersion Security can help.

The Effects of Cyber Attacks on Physical Assets

Protecting your physical assets may not seem like a concern in regard to cyber attacks. After all, most businesses are worried about data leaks.

Data leaks are massive liability companies who are not employing proper security measures face (and one we will talk more about in a moment). Still, it’s important also to know that every device on your company’s network could be damaged due to a cyber attack.

Many times hackers will deploy trojans, viruses and other harmful tools to render devices inoperable. This can represent not only the loss of needing to replace systems but a disruption in business operations which can also be costly.

The Liability of Identity Theft

Big companies like Best Buy and Delta regularly experience data breaches in which their customer’s vital information gets stolen. Names, addresses, credit card numbers and even social security numbers.

Just one or two pieces of information could allow a hacker to assume a customer’s identity. The hardship customers incur as a result of such a breach will likely cost the company at fault whatever it takes to resecure their customer’s identity. It could also cost a company their customer’s business.

Loss of Trade Secrets

For most businesses, your trade secrets are what set you apart from your competition. Hackers are aware of that and will use tools aimed at scraping critical internal communications. They may then hold vital information ransom.

In situations like this, companies face the hard decision of having information released or paying hackers. Having an experienced cyber protection team at your disposal can help immensely in keeping your company abreast of the latest tactics being used by hackers. It will also help you understand what you can do to keep from falling prey.

Summarizing the Importance of Cyber Protection

As the way consumers and businesses interact with the internet becomes advanced, tools used by hackers are evolving to keep pace.

Every day your company runs the risk of having its customer’s data stolen. It also runs the risk of having its hardware dismantled and its trade secrets released to the public.

To protect against those things, it’s important to have a comprehensive online security solution in place. Immersion Security can help you with that.

Immersion Security offers a wide range of virtual services that replace the need for your company to hire a costly Chief Information Security Officer.

With Immersion Security, you get a turnkey cybersecurity team made up of experts. We will ensure your security standards are compliant with state and federal regulations. We will also help you be proactive in protecting your company and customer data.

If you’d like to secure your company at a reasonable cost, be sure to contact us for a consultation.

For more general information on cybersecurity, read more on our blog.