2019 on Pace to Set Data Breach Record

Anecdotally, many people realize that data breaches are increasingly prevalent and problematic. 

Those presumptions are being confirmed by hard data as a new data breach report reveals that 2019 is poised to be the most destructive year yet when it comes to data integrity. 

The 2019 Midyear Quickview Data Breach Report found that the number of data breaches that exposed records increased by 54% in the first half of the year. Concurrently, the number of records exposed in these breaches increased 52%.

The business sector is responsible for the vast majority of these compromised records, with nearly 85% originating with companies that collect and store user data.

This reality underscores the challenge of doing business in the digital age. On one hand, big data is the lifeblood of the internet economy, and companies can lose a significant competitive edge if they decline to collect customer information. However, when that data is compromised, it costs companies significant sums that can offset many of the advantages generated by this type of data collection.

Ultimately, it underscores the importance of developing and executing a holistic approach to cybersecurity that adequately accounts for risks and shortcomings to ensure that your business is positioned to flourish, not flounder.

https://www.usatoday.com/story/money/2019/08/18/2019-on-track-to-become-worst-year-ever-for-data-breaches/39963021/ 

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River Legacy Speaker Series October 15th

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More businesses hacked than ever before!

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Cybersecurity Awareness Month

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Brute Force Attacks are the Preferred Method for Spreading Ransomware

Ransomware attacks are on the rise in 2019, making headlines as they afflict local governments and SMBs with frightening regularity. At the same time, the cost of a ransomware attack is rising precipitously, making these attacks one of the most complicated and feared cybersecurity risks this year. 

However, cybersecurity researchers at F-Secure found that brute force attacks are one of the most prevalent methodologies deployed by hackers, occurring in 31% of ransomware attacks. This approach leverages common or weak passwords to access employee email accounts or company networks where malware can be deployed. 

Consequently, companies can reduce their exposure to ransomware threats by ensuring that employees maintain strong, unique passwords for all their accounts. This simple cybersecurity standard is just one best practice that employers can instill in their employees through comprehensive awareness training that can help thwart cyberattacks.
https://www.zdnet.com/article/ransomware-attacks-weak-passwords-are-now-your-biggest-risk/

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What We’re Listening to:

Know Tech Talks
Security NowDefensive Security Podcast Small Business, Big Marketing – Australia’s #1 Marketing Show!IT Provider Network – The Podcast for Growing IT Service
TubbTalk – The Podcast for IT Consultants
Risky Business
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Data Breaches Put Small Businesses at Risk

Data loss events are a huge risk for any company, but the aftermath of a data breach can be especially problematic for SMBs, a recent study by Bank of America Merchant Services concluded. 

The survey, which included 522 small businesses and 409 consumers in the US, questioned consumers and small businesses about the cybersecurity risks underscoring today’s digital environment. In response, one in five SMBs reported a data breach in the past two years, a 17% increase in two years. Moreover, 41% of small businesses endured a data breach that cost the company more than $50,000. 

This financial component is especially troubling for SMBs, which don’t have extravagant resources that large corporations can use to hasten their recovery efforts. Making matters worse, 30% of consumers indicated that they would never return to a small business that endured a data breach, a 20% increase year-over-year.

These trends are taking place as SMBs are increasingly moving online. 51% of SMBs run their own websites, and 70% have some form of e-commerce component to their business.

In total, it’s evident that SMBs have every reason to prioritize data security protocols as a foundational element of a successful, sustainable business model.

https://www.techrepublic.com/article/how-data-breaches-are-hurting-small-businesses/

Bit by bit helps client networks run smooth and secure.. visit our website at www.bitxbit.com