Stephanie Dwilson

Cybersecurity Concerns for 2020

Are you digitally secure? Are you sure about that?

Technological progress has introduced new cybersecurity threats that professionals wouldn’t have predicted just a few years ago. New solutions, however, have provided bulletproof tools for safeguarding sensitive data against theft or tampering.

As more and more of your daily business is conducted digitally, the risk of cyber crime has steadily increased — as have the stakes. A digital security breach can be disastrous for your business. A data breach can be instantaneous and anonymous, leaving you with no recourse to confront those responsible. Never has it been more important to reevaluate your current cybersecurity measures.

So what cyber threats loom large in 2020, and what can you do about it? This infographic is meant to show you what’s at stake, as well as the best practices for securing your business.

An infographic explaining major security breaches and what to look out for in 2020

Major Breaches in the Last 10 Years

Equifax (2017)

  • $575 to $700 million — Equifax will pay in settlements for “failure to take reasonable steps to secure its network.”

Hackers stole:

  • 147 million names and dates of birth
  • 145.5 million Social Security numbers
  • 209,000 payment card numbers and expirations
  • Mostly from consumers who purchased Equifax products, like credit scores or monitoring

Marriott (2018)

According to Marriott, the hackers accessed:

  • Names
  • Addresses
  • Phone numbers
  • Email addresses
  • Passport numbers
  • Dates of birth
  • Gender
  • Starwood loyalty account information
  • Reservation information
  • Payment card numbers and expiration dates (for some)

Yahoo (2013)

Cost to Yahoo:

  • $350 million*.

*Verizon agreed to buy Yahoo for $350 million less after the cyber attacks.

  • 50% of $117.5 million settlement*.

*Under the amended deal, Yahoo and Verizon will each be responsible for 50% of liabilities arising from government investigations and third party litigation.

Hackers obtained

  • Names
  • Email addresses
  • Passwords

Target (2013)

  • 41 million customers affected

Cost to Target:

  • $10 million in class action settlement
  • $18.5 million multistate settlement

Hackers obtained:

  • Full names
  • Phone numbers
  • Email addresses
  • Payment card numbers
  • Credit card verification codes
  • Other sensitive data

The Threat to Your Business is Real

Accenture’s Annual Cost of Cybercrime Study for 2019 found that:

  • Phishing and social engineering attacks are experienced by 85% of organizations.
  • This is an increase of 16% over one year.

Small Business Have a Target on Their Backs

43% of cyber attacks were aimed at small businesses in 2017

The Path to Cybersecurity Peace of Mind

1. Install anti-virus and anti-malware software.

2. Keep up with regularly released software updates..

3. Secure the company network with a firewall and a Wi-Fi password.

4. Train employees to recognize and avoid phising emails and risky websites.

5. Password protect all work computers and mobile devices, and change passwords regularly.

6. Back up key files in the cloud or on physical storage like a portable hard drive (preferably both).

7. Hire an IT security specialist— or at least hire a consultant to review your procedures.