A breach is expensive. Averages suggest the cost represents 10% of your annual revenue with the average reported breach now costing US$1.6m (source: Radware) and rising fast. Add to this any regulatory fines, lost time, brand impact, lost customers and headache. The impact can run from a week to a couple of months, event dependent.
Your annual budget will be impacted, enterprises pay an average of US$200k to external parties to troubleshoot the crisis and your life in the boardroom will be forever changed. A lack of visibility will no longer be tolerated as an acceptable response.
Both the UK National Cyber Security Centre and World Economic Forum forecast 74% of businesses can expect a hack this year. Not surprising when 150 criminal groups are known to be making more than US$100,000 per week from their illicit operations (source: Checkpoint).
To avoid your chance of ending up in this situation, in this white paper, we will look at:
- Part 1: The most common mistakes that lead to most business and payment data hacks;
- Part 2: : 15 tips your business can take to stay cyber safer and reduce the risk of a data breach;
- Part 3: What are the top security trends for 2019 and in payment security;
- Part 4: Next Steps. How Stanchion can help you.
This is a broad subject, hence the slightly longer length of this briefing. Criminals make a lot from weak defences. We hope a decision you will feel motivated to take, is to call us at Stanchion Payments to book a free discussion where we can both engage around areas you may wish to explore more. We work with experts in their niches to ensure we can provide the best match to your questions or needs.