According to a survey commissioned by the HM Government and produced by the international consultancy PwC, 90% of large organisations and 74% of small businesses experienced a security breach in 2015.
The 2014 figures were 81% and 60% respectively, which for the small businesses represents an increase of 23%.
What is even more concerning, is that the average costs of a security breach is climbing, the range moved for large organisation to £1.46m – £3.14m (2014 £600k – £1.15m) and for small businesses to £75k – £311k (2014 £65k – £115k).
A security breach is clearly a risk factor for any organisation. Company directors in particular have responsibilities which include identifying and mitigating risks to their business.
Could a security breach threaten the existence of your business?
Even if your core business may be unaffected, could you survive the reputational damage?
Could your customers or suppliers sue you for failing to protect their data or systems?