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What Are the Potential Costs of a Data Breach?

By Nextrio on September 29th, 2017 Facebooktwittergoogle_plusredditlinkedinmailby feather

A data breach can be devastating for any type of business. By creating a secure network and server with the help of an experienced IT company, you can help to make sure that your business is protected from data breaches and other forms of cyber crime. Since one in four businesses are attacked by cyber criminals each year, you will be glad that your business is safe from data breaches and other types of crime. Let’s review the potential costs of a data breach for a business.

Lost Information

During a data breach, hackers may gain access to your company’s financial records, client accounts, bank statements, and other sensitive data. When your private information is hacked and made public, you may end up paying major fines and fees. If hackers are able to gain information about your banking accounts, you may also lose significant funds as a result of the breach.

Damaged Trust

When a client hires your company, he will trust you to protect his private information. In the aftermath of a data breach, your client’s sensitive records and data will have been compromised. As a result, you may damage the trust of your client and lose out on future business.

Higher Insurance Rates

Insurance companies recognize the dangers that cyber crime poses to today’s businesses. After you are subjected to a data breach, you may find that your business insurance rates are elevated significantly. To keep your insurance rates low and avoid the costs of a data breach, invest in IT protection for your company’s important information.

At Nextrio, our Tucson IT company offers managed services that will help to keep your business protected against data breaches and other cyber security issues. If you are seeking a reputable IT company to help you create a secure server for your company, look no further than our team. Call us at (520) 545-7100 to schedule a consultation with a member of our IT team.