Security: a word that you’re likely extremely tired of hearing. Here at FrameWork, we’re passionate not only about the concept of cybersecurity, but more importantly, we’re passionate about maintaining YOUR security. One of the reasons we care so much is because – in the event of an attack – we want you to have the highest chance of a rapid and full recovery, outcomes that are certainly not the norm for any small-to-medium sized business.
That being said, it is important to understand how astronomically high the costs of a cyberattack are, in turn illuminating the risk that they can pose to those who are not adequately prepared. According to a Forbes article that cites a study by RiskIQ, a well known cybersecurity firm, cyberattacks cost the global economy $2.9 million per minute, which is around $174 million per hour and $4.1 billion per day. In the United States alone, it is estimated that these attacks cost anywhere between $50 billion to $100 billion per year. Clearly, the costs are staggering, and as the world becomes ever more connected, that cost will only continue to go up. It is essential for a business operating in the modern age to make cybersecurity one of their top priorities.
The main article from Forbes talks about these numbers, as well as breaks down some of the most commonly used and prevalent attack vectors. It’s a great read, and if you’re interested, check it out HERE.