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Mon, December 18, 2017 Twitter LinkedIn

Compliance Training Blog

Security is everyone's responsibility

Security Breaches in UK Could cost $45k-$85k for small biz and $700k-$1.3million for big biz

The UK Department for Business, Innovation & Skills (BIS) recently did a study which shows you the following items for the victims of 2013 information security breaches:

  • Types of breaches respondents suffered
  • The number of malicious software infections that the affected organizations suffered in the last year
  • Number of incidents the affected organizations had in the last year
  • Number of staff related incidents and the types of these incidents

Via Resource recently calculated the worst case scenario security breach costs based on the BIS survey. For small businesses, the total cost can be about £35k-£65k which is about $54k-$100k. For large businesses total cost is about £450k-£850k which is about $700k-$1.3 million.

Additional Resources for information:

  • Via Resource posted this infographic to give you a visual of what this means for organizations.
  • This BIS & PricewaterhouseCoopers survey will allow you to navigate the findings further.

What does this mean for you? Educate your team

A recent study by Symantec and Ponemon Institute found that 64 percent of data breaches in 2012 were the result of human mistakes and system problems. Be sure your employees understand information security risks and know how to stay protected. We have an entire suite of security awareness courses that highlight security threats and provide interaction to ensure your team retains the course information. Check them out here.

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