Posted by Jim Wayman on Sep 25, 2018
Brian Dennis, Director of Cyber Security for the Kansas Small Business Development Companies, provided an interesting overview of the devastating impact of cyber threats to small businesses. Cyber crime is growing to epic proportions.
  • 60% of small businesses that suffer a cyber breach close within one year.
  • $117,000 average cost of a cyber breach.
  • $60 billion cost last year for cyber breaches.
  • $80 billion per year is being spent to protect businesses from cyber crime - most by large businesses.
There are soon to be two types of businesses: Those that have been breached, and those that don't know that they have been breached. 
What are cyber criminals looking for? Private information that can be used in identity theft. 80% of the time this information is stolen because of human error. Employee education is a huge factor in protecting private customer data. 
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