“Exposed: Shocking Truth Revealed as One-Third of Companies Confess to Concealing Data Breaches”
One-third of organizations acknowledge trying to conceal data breaches from customers and business partners, according to a new report from cybersecurity firm Keeper Security. This alarming statistic indicates that rather than taking a proactive approach to tackle data breaches, businesses are more focused on damage control and concealing the issue from their stakeholders.
The report, titled “The 2019 Global State of Cybersecurity in Small and Medium-Sized Businesses,” also highlighted that the number of data breaches experienced by small and medium enterprises (SMEs) has been increasing year-on-year. Nearly two-thirds of SMEs report experiencing a cyber-attack in the past year, up from 50% in 2018.
The most common types of cyber threats SMEs face are phishing attacks, malware, employee negligence, weak passwords, and ransomware. Furthermore, the cost of a data breach has also increased over the past year, with the average cost of an attack now standing at $200,000.
Keeper Security’s report shows that businesses need to invest more in cybersecurity measures to address the increasing number of data breaches. SMEs, in particular, need to recognize that they are just as vulnerable to cyber threats as larger organizations and allocate adequate resources towards protecting their data.
The report also highlights the importance of transparency in dealing with data breaches. Covering up data breaches has long-term consequences and can severely damage a company’s reputation, leading to a loss in customer trust and potential legal ramifications. Instead, businesses should prioritize being honest and transparent with their stakeholders to build trust and mitigate the effects of a data breach.
In conclusion, cybercrime is an increasingly pressing threat facing businesses of all sizes, and it is essential to prioritize cybersecurity measures to prevent data breaches. Companies should act proactively to detect and address cyber threats and be transparent when a breach does occur to preserve their reputation and rebuild customer trust.
Key Takeaway:
– One-third of organizations attempt to hide data breaches from customers and business partners.
– Small and medium-sized businesses (SMEs) are experiencing an increasing number of data breaches year-on-year.
– The most common types of cyber threats SMEs face are phishing attacks, malware, employee negligence, weak passwords, and ransomware.
– Investing in cybersecurity measures is essential to prevent cybercrime.
– Transparency in dealing with data breaches is vital to build trust and mitigate the long-term implications of a breach.
