The rise in the data breach is threatening trust and confidence across online business. Malicious or criminal attacks are the most expensive cause of data breaches and are on the rise. US figures show that in 2011 37 percent of data breach cases involved malicious attacks and averaged $222 per record. Negligence accounted for 39 percent of reported breaches. According to recent UK figures incidents involving hacking and malware were both up considerably in 2011, with 81 percent utilized some form of hacking and malware incorporated in 69 percent of data breaches.
Global legislators are so concerned that they are discussing the introduction of mandatory reporting mechanisms for when organisations leak data. For example, in Europe the Commission is considering a new data protection regulation that would include reporting.
The past couple of years have also seen an increase in the powers of regulators to fine companies in severe cases of data breach. The UK Information Commissioner alone can impose fines of up to £0.5 million - a significant amount for failing to take simple preventative steps to protect your organisation's personal data.
It's essential that organisations understand the data breach risks and get the right protection. The smart infographic below sets out what's just at stake for all types of businesses, large and small. It doesn't matter in which sector you are operating, the infographic sets out what you can do to save your organisation from complete disaster if a data breach happens.
Why SMEs should be concerned with data breaches