A Data Breach Can Cost You Everything

Articles & Publications

Built In Chicago
November 19, 2015

Imagine you’re preparing for your second round of funding and Brian Krebs calls you asking if you were aware your company had been hacked. Your first question, inevitably, is “what do I do?” and your next thought, “what could I have done to prevent this?” 

The news that yet another company has been victimized by a cyber-attack comes almost daily.  While hacks against large companies such as Sony, Home Depot, Target and the like are the cyber-attacks that capture headlines, the reality is that hackers more frequently target smaller businesses.  According to industry data, a staggering 60% of targeted cyber-attacks are against small or mid-sized companies.  A more sobering fact is that, due to the significant expenses incurred by a business following a cyber-attack, almost 60% of small businesses that suffer such an attack are forced to shut down.

Small tech companies and start-ups simply cannot ignore the reality of this impending threat, especially those companies that handle high-value data. Best practices dictate that, to best prepare for a breach, there are several steps that a company can and should proactively take now to minimize the risk of a cyber-event later and, at the same time, strengthen your case for funding.

Read the entire article here.