Cost of Cybercrime

Focusing on prevention
Australian governments recognise that it is better to prevent cybercrime from happening than to respond to it after it has occurred. In many cases, effective preventative measures are relatively low-cost and easy to implement.

Source: Attorney-General’s Department  – National Plan to Combat Cybercrime

No organisation is immune from the risk of compromise. While the upfront costs of implementing robust cyber security mitigation may seem high, small and medium business should consider the associated costs that will be incurred if a serious compromise occurs on their network. In the event of a network compromise, not only will organisations be faced with the cost of implementing these cyber security strategies to prevent further compromise, they will also incur both higher direct and indirect costs associated with remediation.

The diagram below illustrates the costs associated with a cyber compromise. It is far more cost effective for business to invest in risk mitigation before an intrusion occurs; thus, reducing the risk of other greater costs associated with cyber compromise. The average cost incurred by small business for a single cyber compromise is $23,000 (large enterprise over $200,000).

By investing in cyber security Digital Force One will significantly mitigate the risk of cyber compromise.

Please view the video below. See the ongoing costly impact a tourism business experienced last year from cyber crime. Digital Force One will help you prepare for cyber crime.

 

Specialising in Small Businesses

We make sure your computers and your entire life doesn't get hacked!