Just this month, 143 million people were affected by the Equifax security breach. That is almost half the amount of people living in the United States. This was just one of the 918 breaches that have already occurred this year, affecting almost 2 BILLION data records. The overall number of data breaches occurring each year is increasing at an alarming rate. Many industry professionals are now even considering large cyber attacks to be acts of terrorism.
How many customers does your company currently have in your database? Think about that number….is it thousands? Tens of thousands? Hundreds of thousands? Now take that number and multiply it by $158. That is the current cost incurred from each lost or stolen record containing sensitive or confidential information. For most small-to-mid size businesses, that risk can be well over $1 million.