Revealed: How much you should spend to prevent data loss

Here’s an interesting statistic: Cyber Crime costs organisations 2.7% of turnover.

The Irish Times have reported this statistic following the annual Deloitte Information Security and Cybercrime Survey.

In our recent Boardroom Cyber Watch 2013 survey, we revealed that nearly half of organisations admit they don’t make the right level of investment in information security – or don’t know.

So how much should organisations spend in order to prevent a data loss?

If cyber crime costs organisations 2.7% of turnover then consider the numbers:

  • If your turnover is £10m – the cost of a data breach is £270k.
  • If your turnover is £100m – the cost of a data breach is £2.7m.

Do the maths based on your own organisation’s turnover and there lie your answer. You probably want to spend up to that amount. Afterall, you should only have to invest once in order to avoid an annual loss.

No matter what size your organisation is, you are very likely to fall victim to a cyber attack at some point – if not already. In 2012, 87% of small businesses and 93% of large businesses experienced a cyber security breach [Source]. What makes your organisation different?

80% of these breaches could have been prevented through basic security hygiene.

Are you Cyber-secure? Does your cyber-risk management match minimum UK government guidelines?

Find out before you join the 90% of firms who have already suffered a cyber breach.

Call 0845 070 1750 or email servicecentre@itgovernance.co.uk today to see how quickly we can get an experienced consultant to come and assess your exposures and take the first steps to a more cyber secure business future.

Find out more about the 10 steps to cyber security today >>