In this climate of escalating cyber attacks, free antivirus solutions flourish. But do you want to rely on free stuff to protect your business from cyber criminals? Isn’t it rather like putting a bandaid on a gunshot wound?
Think about the endless threats facing your business: malware, ransomware, zero-day exploits, phishing and social engineering attacks, distributed denial of service (DDoS), password or brute force attacks—to name some, but not all methods of attack. In its 2018 Internet Crime Report, the FBI stated that an organization receives an average of 300,000 cybercrime-related complaints per year—an average of 900 complaints per day (FBI, 2019).
Take a look at these chilling cyber crime statistics:
- More than 28 million Canadians were impacted by a data breach in the past year (as cited in Shah, 2019),
- In a 2017 survey, the average cost of a breach to Canadian companies was $6.11 million, up 5.6% from those surveyed in the 2016 report (as cited in Solomon, 2018).
- According to the 2019 Cost of Cybercrime Study, malware and malicious insider attacks now make up one-third of a company’s cyber security costs. In 2018, the study found that they jumped 11% and 15%, respectively.
- Malware now costs US companies on average $2.6 million each year, while malicious insider attacks cost $1.6 million each year. When you combine these, they equal one-third of the $13 million average cyber security cost to companies—and that represents $1.3 million more than in 2017 (Accenture & Ponemon, 2019).