When you hear about hackers, cyberattacks and cybercrime, it’s easy to fall into the dangerous mindset of thinking it couldn’t possibly happen to your organization. However, according to a study by Clario, 1 in 5 people have been a victim of cybercrime. In fact, the same study pointed out that Illinois has the highest number of cybercrime victims per 1000 people, totaling 14. 6 people out of 1000. The financial toll this takes on the state amounted to $107.15 million in 2019. People perpetuating cybercrime show no signs of slowing down, which means protecting your Chicagoland organization from potential threats takes priority.
The Costly Consequences of Security Breaches
It’s a Matter of Trust
When your organization experiences a cyberattack, whether from phishing, malware, ransomware or other forms of cybercrime, you risk losing customers, vendors, and employees. Research conducted by RSA in 2019 found that 64% of Americans would blame the company, not the hacker, for the loss of personal data. A breach of trust caused by compromised security has lasting effects on an organization’s reputation. The responsibility falls not just on the leader, but on the employees, too. Training employees in cybersecurity can better protect your organization and increase trust among your clients and coworkers. If the whole team has an understanding of what cybercrime looks like and the security measures you’ve put in place to prevent it, everyone feels more confident.
Playing the Financial Long Game
Upgrading your cybersecurity systems to match advancing technology will save you money in the long run. At the end of the day, you want to focus on achieving your goals and growing your organization. Cyberattacks stall your progress and, just like athletes have to heal from an injury, your organization has to heal from security violations. The downtime after a data breach can put your work on hold for days, which could cost you clients and cause worry among your employees about job security. Ransomware attacks demand their victims pay a steep price, and as Forbes points out, this includes factors like “hardware replacement and repair costs, lost revenues, and, in some incidents, damage to the victim’s brand.” In this case, improving your security measures saves you from potential losses.
First Steps to Fortifying Your Technology
First Things First: Start by Reviewing the Basics
There are many ways your organization can take a proactive stance on cybersecurity solutions. Features like two-factor authentication provide stronger protection than a regular password. Even this simple security measure reinforces the defenses around confidential data, since the second step required in two-factor authentication can stop potential hackers from accessing accounts. Flexible work schedules and remote working present your organization with the perfect opportunity to invest in a virtual private network (VPN) and secure cloud system. These will enable your employees to work effectively through the office network even if they’re at home or finishing a project at odd hours. You should also consider what backups and data recovery plans your organization has in place. As an essential element to cybersecurity, they mitigate the dangers of data breach downtime and needing to pay a ransom to recover stolen data.
Collaborate With a Trusted Company for Optimal IT Support
Whatever your company’s size, you deserve comprehensive cybersecurity that suits your unique needs. That’s where our team at LeadingIT comes in. Since 2010, we have provided quality managed services and IT support to Chicagoland businesses. We offer 24/7, all-inclusive, fast and friendly technology and cybersecurity solutions to a wide range of organizations, including nonprofits, manufacturers, schools, accounting firms, religious organizations, government organizations and law offices with 10 - 200 employees across the Chicagoland area. We want to see your business be more capable, efficient and profitable through proactive IT solutions. We look forward to discussing your ideal security solutions when you reach out through our website or call 312-500-2674.