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SMEs at risk of information security breaches
Forty-five per cent of SMEs believe their business wouldn’t be affected by a data breach.
mallbizadvisor.ca Staff on October 14, 2016
SMEs are at high risk of information security breaches.
According to the 2016 Shred-it Security Tracker Survey conducted by Ipsos, 45% of SMEs believe their business wouldn’t be affected by a data breach. On the contrary, the Ponemon 2016 Cost of a Data Breach study revealed that the average cost per lost or stolen record is approximately $278 dollars.
This financial loss and reputational harm is overwhelming for any sized organization, but can be especially damaging to SMEs who are not often equipped to absorb severe financial loss. Not only could a breach erode customer trust and drive consumers away, but it could actually put small businesses out of business.
In order to instill a strong information security culture there should be a mindset of shared responsibility among everyone in the organization regardless of job function and level of seniority. For SMEs, fostering a strong information security culture will limit uncertainty when it comes to decision-making and overall reduce data breach risk.
SMEs at risk of information security breaches
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